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.