The cryptocurrency market continues its slump. Bitcoin (BTC) has fallen to the $95,000 price level. The global crypto market cap has slid 3.3% in the last 24 hours to $3.27 trillion. Cardano (ADA) also follows the downward market trend. ADA’s price has fallen 3.6% in the daily charts, 2.8% in the weekly charts, and 25.8% over the previous month. Despite the dip, the asset’s price has risen by 3.4% in the 14-day charts and 22.2% since February 2024.
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Cryptocurrency Market Continues To Stagnate
The latest market dip is likely due to the controversy around the Libra memecoin. Argentine President Javier Melie is accused of promoting the project. The project is being deemed a pump-and-dump scheme. Many have dubbed the incident “Libragate.” Cardano (ADA) and other assets may have taken a hit due to the Libra coin scandal.
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The cryptocurrency market faced another correction earlier this month due to US tariffs. Macroeconomic factors also present a barrier to the crypto market. Cardano (ADA) and other cryptocurrencies are bearing the brunt of the matter.
What’s Cardano’s Price If Its Market Cap Equals Ripple XRP?
Ripple’s XRP has a market cap of $148.83 billion. Cardano (ADA) has a market cap of $27.74 billion. ADA has to grow by 436.5% to equal XRP.
There are about 35.2 billion ADA tokens in circulation. If ADA’s market cap reaches $148.83 billion, the price of each token could reach $4.23. Reaching this figure would mean a new all-time high for ADA.
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ADA’s maximum supply is 45 billion. If the project is at its maximum supply, while equaling XRP’s market cap, the price of each token would hit $3.31. ADA would hit an all-time high in this scenario as well.