thecryptobasic.com
The prospect that Cardano could be the next token to repeat the explosive move seen with $XRP is gaining momentum among proponents.
Remarkably, analyst JD is one of those sharing this narrative. He took to X on December 7 to highlight the similarity between the current Cardano price action and that of $XRP before it mooned a year earlier.
$XRP Non-Logarithm Scale
JD referenced an earlier post from February 8, where he highlighted his accurate prediction of $XRP’s breakout from a six-year descending triangle. According to him, he started making the call to buy $XRP at the bottom when the token traded around $0.28.
#$XRP – Breakout Measured Target HIT w/exact PRECISION using TA!🎯
Glad we knew it was coming! Also glad we loaded up HEAVY w/in 0.28 – 0.43 during the BEAR MARKET! I called bottom using TA, I'm calling TOP next using TA!
Retweet I'll post update on Tradingview and X next week!… pic.twitter.com/DTHCHV3ZqD
— JD 🇵🇭 (@jaydee_757) February 8, 2025
At the time, the analyst predicted a possible $XRP price explosion using a non-logarithmic scale that measures an asset’s true value. Notably, his projections worked out precisely as planned, with $XRP rallying over 12x from the bear market bottom around $0.28 to July’s high of $3.67.
Specifically, $XRP broke out of the January 2018-originated triangle in November 2024 after years of consolidating, rallying over 400% from $0.57 to $2.29 before continuing its upsurge to multi-year highs.
Cardano Shows Similarity
Interestingly, JD has now spotted a similar move for Cardano. In his post yesterday, he suggested that the blue-chip asset could make a similar move upon breaking out of the triangle as $XRP did.
An accompanying chart shows $ADA has been trading in a four-year descending triangle after its 2021 peak of $3.10. Like $XRP, Cardano has consolidated within this structure and is almost at its breakout point.
Meanwhile, he awaits a breakout from the channel to confirm an explosive move in Cardano, similar to that seen in $XRP. While he waits, he has also utilized the non-logarithmic scale for true value to project the possible target for $ADA upon breakout.
The chart identified the $3.50 region as the true value of $ADA upon breakout from the triangle. At the current price of $0.429, this represents a 715.8% rally and a new all-time high for the asset.
Notably, JD is not the only one predicting that Cardano will reclaim $3 in the near future. Analyst Christoper Visser shared a slightly higher target of $3.9 for $ADA in August, suggesting that a breakout from a similar triangle would spark this move.
Additionally, UK Finance analysts at Finder expect a slightly lower target of $3.15. They predicted this could happen by 2030.