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Sabrina Martins Viera

Find out what could bring altcoins back to $1 and which could be the first to reach that value

XRP and gimbal (ADA) are two alternative cryptocurrencies that have distinct fundamental characteristics. Despite their differences in market capitalization and total supply, these two altcoins share some similarities, such as a dedicated community and the aspiration that their holders experience a resurgence in altcoin value to hit $1.

XRP, developed by Ripple, is a digital token created to be used as a medium of exchange to facilitate global transfers of value and improve the efficiency of international payments. This is achieved by making them faster and more affordable.

Alternatively, Cardano is an open-source cryptocurrency that aims to provide a solid foundation for building decentralized applications that are scalable, secure, and driven by a proof-of-stake consensus mechanism. It benefits from a layered architecture, which allows the separation of the data layer and the smart contract layer, offering a unique and innovative approach to blockchain technology.

What to expect for XRP in 2023?

The XRP community is eagerly awaiting the outcome of the legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) that has been going on since 2020. The SEC has accused the company of illegally selling XRP as an unlicensed investment. ‘save as title. and profit from these sales, with its leaders.

Ripple insists that XRP is a digital currency and not a security. The case is still ongoing, no final decision has been made yet. However, there is a high level of anticipation that the lawsuit will reach its conclusion this year and that the SEC’s analysis will provide greater clarity on what constitutes a security.

Some investors believe in a victory for Ripple or even an agreement between the parties. This result would be crucial for XRP’s ability to maintain its position among the top 10 cryptocurrencies and potentially re-list on Coinbase. The return to the Brian Armstrong-led platform could also serve as a positive catalyst for the price of XRP, as the exchange has managed to push the value of listed cryptocurrencies higher.

What to expect for Cardano in 2023?

Ethereum’s main competitor, Cardano, has faced challenges in improving its user experience and identifying the real demand for its ecosystem in the market. Despite a dedicated community and a large number of active developers, usage of the Cardano ecosystem remains low.

If market demand for the Cardano ecosystem materializes, the platform has the potential to perform well thanks to its robust ecosystem, decentralized architecture, and strong scalability. These strengths put Cardano in a good position to capitalize on any positive development within its network.

Cardano has implemented a number of new features, including stablecoins, decentralized oracles, sidechains and dApps optimized for EUTxO, with the aim of positioning itself as a serious competitor to Ethereum. By doing so, it aims to increase demand and usability compared to other cryptocurrencies, such as Solana.

$1 battle

As of the current date, XRP is trading at $0.39, while ADA is trading at $0.33. Although the price difference between the two altcoins is relatively small, there is a noticeable difference in their capitalization.

The capitalization of XRP has remained relatively stable since the start of 2023, despite increasing by 15%. However, this growth has been slower compared to other top 10 cryptocurrencies. Conversely, ADA has seen a significant 33% increase in capitalization since the start of the year.

The current trend in investor sentiment and capitalization growth suggests that Cardano may have an edge over XRP, assuming the latter’s performance continues to be heavily influenced by the outcome of the SEC’s decision. However, it is important to note that the cryptocurrency market is very volatile and conditions can change quickly.

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