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Cardano's Plowman Hard Fork: Can ADA Reach $13?

Coin WorldThursday, Jan 30, 2025 10:13 am ET

1min read

Cardano's Major Upgrade: Will the Plowman Hard Fork Send ADA to $13?

Cardano, a leading blockchain platform, is gearing up for a significant upgrade with the Plowman hard fork. This event has sparked speculation about the potential impact on the price of its native token, ADA. As the upgrade approaches, investors are wondering if the hard fork could send ADA to new heights, potentially reaching $13.

The Plowman hard fork is expected to bring several improvements to the Cardano network, including increased scalability, faster transaction processing, and enhanced security. These upgrades could attract more users and developers to the platform, driving demand for ADA and potentially boosting its price.

Analysts have been weighing in on the potential impact of the hard fork on ADA's price. Some, like Sssebi, predict a 100-200% gain in the coming weeks, which could push the Cardano price to $1.6-$2.4. Another analyst, Chris, believes the value of the cryptocurrency might pump to $1.7 in the coming weeks.

However, the sentiment surrounding Cardano remains bearish, with its price having dropped by 5.8% on the weekly chart and 7.5% on the biweekly level. Despite this, the relative strength index has dipped below the 50 mark, indicating that there is still room for growth in the case of an uptrend.

Meanwhile, Ripple (XRP) has shown some progress in price movement, remaining above the $3 level after a recent dip to $2.8. While the altcoin is still under bearish pressure, technical indicators suggest that bulls are still leading the market. If the Ripple coin price falls below the current support and breaks below $2.52, the wave four correction is still in progress. However, if the Ripple coin price breaks past the $3.25 level, it could push the value of the altcoin to new levels.

In other news, DTX Exchange (DTX) has made its way into the cryptocurrency market, catching the attention of investors. Its ongoing presale has raised $13.2 million, with the current phase priced at $0.16, an increase of 700%. The platform offers an un

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