Altcoins

Polkadot and Ripple Buckle Up to Dethrone Cardano! Will ADA Run Out Of Top 10?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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Nov 3, 2021

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The entire crypto market has been running green in the charts, while the ADA price remains inert with no significant gains over the past two months. After a certain correction at around $60k, the Bitcoin price has surged by 2.60% round the clock. Its counterpart Etherum has recorded a new ATH of $4,638 on Wednesday. On the other hand, prime altcoins such as Solana, Polkadot, and Ripple have surged by 17.71%, 17.2%, and 10.51% respectively.

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The latest course of events across the space has led Solana to supervene Cardano’s position. Yet, both are still in a tight fight to take hold of the 5th position. But, woefully, ADA price has been trading around the uptight range below $2. If the altcoin fails to find the pace in the next couple of days or weeks, then it may run out of the top 10.  

Polkadot and Ripple Wrestle to Dump Cardano!

However, the latest paper trail of Polkadot and Ripple have been buckling up to overthrow Cardano (ADA). DOT ecosystem has been awaiting a much anticipated parachain auction scheduled from November to January. The event marks the exploitation of its core goals mentioned in its whitepaper. Besides, Ripple is hopeful of winning its lawsuit against US SEC, and plea for relisting XRP on Coinbas lauds, hence its price would soon reach new highs. 

On the eve of its Parachain auction, DOT price has already surged by more than 20% reaching an ATH of $51.559 on Wednesday. The latest hike in interest has uplifted its market cap to $50.82 billion which is somewhat close to XRP and ADA’s market cap. If the backpack of the auction achieves the set goals like clockwork, eventually its price would explode by another 20 to 25%. By then, its market cap would be more than its rivals, hence it possesses the strong potential to enter the top 5!

However, Ripple (XRP) has been optimistic about winning a lawsuit against US SEC. Despite a pending investigation, the community appears to be quite bullish on this asset, as XRP price has surged by 9.56% in 24 hours.  In addition, bullish pennant in the making, the breakout at the next crucial level of $1.30 could further boost the price momentum by another 12 to 15%. 

Collectively, if the aforementioned facts turn out as a reality, then DOT and XRP price would face neck to neck fight. On the other hand, the Cardano Foundation has recently hit 2 million wallets on Tuesday. Hence, if the ecosystem resolves the existing technical glitches, then it would retain its position among the top 5. On the contrary, if it further delays the upgrades, then the aforementioned coins would easily dethrone ADA out of the top 10!

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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