Is XRP really going to break out like everyone is saying, or is it best just to stick with Cardano?
By: Jay Thompson Researcher and micro- investor
To answer this with any certainty you need to check if either XRP or ADA has decoupled from Bitcoin. Because for there to be a breakout, or in other words a run up in price to some figure that coin gurus have picked out of the sky either one of two things needs to happen.
- Bitcoin (BTC) breaks up from its sideways movement since the crash which started on May 19th. If BTC can get a solid break above 40K and continue up, then pretty much all the major alt coins are going to break out as well. So, there is the first possibility for XRP to break up. This will also move ADA up.
- the second possibility is a decoupling from Bitcoin. For this to occur there needs to be a good reason for folks to think XRP should go up when BTC is staying flat. That might be breaking news that the SEC has dropped the lawsuit. That would decouple XRP from BTC for a few days most likely. Of course, as of lately there has not been a whole of news about XRP and it is probably unlikely there will be much of any news besides something about the lawsuit. If Ripple wins or the SEC decides to drop the legal action, then there is the possibility that Elon Musk might tweet something positive about XRP which would also be bullish for the coin and might help XRP decouple from the BTC train.
Now let us look at the possibilities for ADA. If you compare the chart of ADA to BTC there seems to already be a bit of decoupling going on. After BTC crashed, ADA was the first asset in the top 20 by Market cap to recover. Cardano has been bullish for quite some time in fact. The only thing that had much of an effect on the ADA chart was the BTC crash which pulled every coin down with it.
ADA is about to become smart contract capable when the Alanzo hard fork goes live in August. This will give developers an option to build on the Cardano Ecosystem instead of the Ethereum system. It opens a lot of possibilities and is almost certainly to give a boost to ADA’s price.
ADA is also working toward many other goals like the Africa project which helps poor people validate information like diplomas and GPA records for students, deeds for real estate, and titles for different kinds of assets. This is such a great use for Block Chain technology, and I know of no other Crypto project that is doing stuff like this.
Hoskinson, the founder of Cardano, (ADA) has such a broad vision for the project that it is impossible to mention it all in a short Quora answer.
So bottom line in comparing these two coins is there seems to be several reasons for ADA to continue going up and only the possibility of one or two reasons for XRP to go up. So IMHO it might be a good idea to bet on ADA over XRP.
But if the lawsuit gets dropped and the financial news media make a big deal of the news, then for at least a short time XRP will probably outperform BTC and ADA.
BTW. This is not financial advice. I write these answers because it makes me think more about how I will invest my hard-earned money. Please do your own homework and think hard before you invest in anything, and I hope this helps you think about it. Have a great day! Live long and prosper!