ADA hits 5 year lows against Ripple’s XRP.
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I want to share something bullish about ADA. This chart shows cardano when measured in XRP. Cardano has lost 93% of its value relative to XRP since early 2021 as 1 ADA is now equal to less than 0.25 XRP. This isn't a shitpost on ADA. It's bullish because it means ADA is undervalued relative to XRP. Years of underperformance now the create the conditions for a reversal on this chart. I do expect ADA to outperform XRP going forward. The charts is also at a multi-year support level of 0.25 XRP. We have seen big bounces from this level in the past and I expect to see it again as ADA approaches $5+ Some might say this chart has no significance. But I disagree. Remember when everyone on this sub was mega bearish on ETH back in April….well we saw eth/btc hit key support levels and now a rapid v-shape recovery. This wasn't a coincidence: submitted by /u/XRP_SPARTAN |
