Recently, ChatGPT provided insights into which cryptocurrency, XRP or Cardano (ADA), might be the first to reclaim the $1 mark. XRP and ADA are well-known altcoins with substantial market capitalizations and large, engaging communities. Despite their prominence, both assets have underperformed in recent years, with neither able to hold on to gains above $1.
As of today, Cardano (ADA) trades at $0.3055. The last time it reached $1 was in May 2022, two years ago. ADA nearly regained this level earlier this year when its price climbed to $0.801, but bearish market pressure prevented further gains.
Following that, Cardano experienced a steep decline, dropping over 65% to a low of $0.27. Despite this, ADA has recovered somewhat from last year’s price of $0.24, offering about a 19% gain for long-term holders.
XRP’s performance has been similar, though slightly worse. The last time XRP reached $1 was in November 2021. After its legal victory in July 2023, XRP attempted to breach $1 again but fell short, peaking at $0.93.
Earlier in the year, during the global uptrend in Q1, XRP saw another attempt, reaching $0.74, but it quickly lost momentum. After hitting a low of $0.38 in July, XRP rebounded and currently trades at $0.5156, resulting in a 2.96% gain for investors who held over the past year.
While both XRP and ADA have seen substantial advancements in their blockchain technology, these improvements have not been sufficient to push either coin back above the $1 threshold. Both projects have maintained their positions among the top cryptocurrencies, but their price recovery has been slow.
Conducting this analysis with ChatGPT, the chatbot noted that several factors, including market conditions, adoption rates, and regulatory developments, will play a role in determining the timeline for each cryptocurrency.
According to the chatbot, XRP has a better chance of reaching $1 before Cardano, suggesting a 3—to 12-month timeline for XRP to reclaim this level. In contrast, ChatGPT predicted that ADA could take longer—between 6 and 18 months—citing the need for further technological progress before it can reach the $1 threshold.
From a current price perspective, XRP has a less steep climb than Cardano. XRP would need to increase by 93% to reach $1, while ADA would need to rally by 227%, more than double the increase required for XRP. This gives XRP a potential edge in hitting the milestone first, although both assets face significant challenges in their respective recoveries.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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Singapore, Singapore, 18th September 2024, Chainwire