XRP News Today: Cardano ADA Retests $1 As Midnight Airdrop Sparks 16% Price Surge

Cardano (ADA) has once again retested the psychologically significant $1 price level, marking a key moment for the 10th-largest cryptocurrency by market capitalization. Despite a brief pullback to $0.98 following the retest, ADA remains up by 16% over the past 24 hours, reflecting strong buying pressure and bullish momentum [1]. Market analyst Leandrocrypto highlighted that the price has consistently held a key trendline, with repeated bounces from its support level indicating robust buyer interest and a potential for a sharp upward move [1].

This price activity coincides with a major development in the Cardano ecosystem—the launch of the Midnight Network’s Glacier Drop airdrop. Over 1 billion NIGHT tokens have been claimed in just the first week of the airdrop, triggering a surge in on-chain activity and demonstrating the growing engagement of the Cardano community [1]. The airdrop mechanism allowed holders of major cryptocurrencies, including ADA, XRP, BTC, and others, to claim NIGHT tokens based on their holdings, incentivizing widespread participation and boosting network usage [1].

The Midnight Network aims to introduce a privacy-focused vision on the Cardano blockchain, and the airdrop is part of a larger 24 billion NIGHT token rollout. Of these, 12 billion tokens are reserved for Cardano holders, while the remaining are allocated to BTC, ETH, XRP, and SOL holders [1]. This large-scale token distribution has not only increased blockchain activity but also showcased Cardano’s ability to support innovative and large-scale projects.

While ADA remains within a consolidation pattern, the rising on-chain activity and positive price action suggest increasing confidence among investors and developers in Cardano’s long-term potential. The success of the Midnight token airdrop has further emphasized the growing ecosystem around the platform, with potential implications for broader adoption and market traction [1].

Analysts remain cautious, noting that while the retesting of the $1 level and the airdrop success indicate a recovery in momentum, the market may still need time to confirm a sustained bullish trend. The coming days and weeks will be crucial in determining whether the current rally will continue or if ADA may enter a more extended consolidation phase [1].

Sources:

[1] Cardano Retests $1 Milestone While 1 Billion Midnight Token Claims Create On-Chain Activity Explosion (https://zycrypto.com/cardano-retests-1-milestone-while-1-billion-midnight-token-claims-create-on-chain-activity-explosion/)

[2] XRP Bull Flag Fires Up as Technical Breakout Targets Next ... (https://zycrypto.com/xrp-bull-flag-fires-up-as-technical-breakout-targets-next-stop-to-all-time-high/)

[3] Financial News & Top Stories — Market Analysis (https://in.tradingview.com/news/)

[4] Leap Digital Investments (https://leapdigitalinvestments.com.au/)

[5] Midnight (NIGHT) price Prediction (https://www.bitget.com/price/midnight/price-prediction)