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Home News Altcoins

XRP (XRP) v Cardano (ADA) – Which one has better prospects this quarter?

Nicholas by Nicholas
January 15, 2019
in Altcoins, News
Digibyte
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The entire crypto market is heavily tied to Bitcoin (BTC) at this point. As such, when it gains, the entire market gains too. The reverse also holds true. However, even under these conditions, certain altcoins stand in a better position to gain faster than others. That’s why it makes sense to compare different altcoins, in a bid to find one that could offer the highest gains in the short-term. One such comparison is between XRP (XRP) and Cardano  (ADA).

While the two are strong cryptos, and have good long-term prospects, Cardano (ADA) has better prospects in the short-term, especially in this quarter and possibly in Q2 as well.

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 One of the factors that place Cardano (ADA) in a better position in the short-term is the strength of its news. The biggest Cardano news this quarter is the Shelley release. Already, hype around Shelley is building up, as the IOHK team gives constant updates about the progress they have made so far.

Once it is released, the excitement it will create could give Cardano (ADA) double digit growth for weeks. If it happens at a time when Bitcoin is bullish, the gains could be quite high. There is also the possibility that  Coinbase could list Cardano (ADA) after the mainnet.  Cardano (ADA) is one of the cryptos that Coinbase announced they would be listing. Though there is no specific date, it could possibly come after Shelley due to the decentralization aspect that Shelley brings to Cardano. This could further boost the price of Cardano (ADA) for a good part of 2019.

However, this is not to say that  XRP (XRP) is a bad investment this quarter. If Bitcoin (BTC) gains momentum at some point in this quarter, XRP could deliver strong results as well. Momentum is unlikely to come from XRP specific news. All through 2018, and up to this point, XRP good news have not had much impact on the price. This can be linked to the regulatory uncertiainty around this crypto.

This is a cryptocurrency that is heavily focused on the banking industry through its connection to ripple. While this is a high potential market, it also happens to be one of the most regulated. As such, until there is regulatory clarity around its status (whether it’s a security or not), it is unlikely to be adopted at scale. That’s especially in key markets for the banking industry such as the U.S.  In essence, an investment in XRP (XRP) at this point would be driven more by Bitcoin’s price action.

Long-term, both cryptos offer good growth prospects.  Cardano (ADA) is likely to  grow exponentially as it becomes the platform of choice for launching applications. It’s strong focus on the developing world will also play a role in driving demand, since there is a gap in that market for financial services. On its part, XRP stands in a good position to grow once there is regulatory clarity around it. It has massive potential as a settlement crypto for the banking industry, in cross-border payments.

Tags: ADACardanoCardano (ADA)XRP
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