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XRP News Today: Cardano’s ADA Token Surges 5% on XRP and Bitcoin DeFi Integration

Coin WorldTuesday, Jun 10, 2025 8:48 am ET

1min read

Cardano’s ADA token has surged by 5% following significant announcements made by the network’s founder, Charles Hoskinson. These announcements include the upcoming support for XRP in the Lace wallet and the introduction of a new Bitcoin DeFi protocol, Cardinal. These developments highlight Cardano’s strategic ambition to become a central hub for cross-chain interoperability, aiming to connect disparate blockchain networks and bring together some of the industry’s largest communities, including Bitcoin and XRP.

Hoskinson’s announcements were made during a recent AMA session, where he confirmed that XRP support would soon be integrated into Lace, the light wallet developed by Input Output Global (IOG). Launched in April 2023, Lace has been steadily expanding its multi-chain capabilities, having already integrated Bitcoin testnet support in June 2024. The addition of XRP marks a significant step in Lace’s evolution into a robust, multi-chain gateway, further enhancing its utility and appeal to a broader user base.

In parallel, Hoskinson introduced the Cardinal Protocol, a groundbreaking development that enables Bitcoin-based DeFi on Cardano. Developed by IOHK’s CTO Romain Pellerin, Cardinal allows Bitcoin UTXOs to be “wrapped” into DeFi-enabled assets on Cardano. These assets can be staked, lent, or used as collateral, providing a new avenue for Bitcoin holders to participate in the DeFi ecosystem. Unlike traditional wrapped BTC models that rely on custodians or federated networks, Cardinal uses MuSig2 multisig cryptography and BitVMX-powered off-chain logic to create a trust-minimized, verifiable DeFi ecosystem. These wrapped assets maintain 1:1 parity with BTC and can move between chains such as Ethereum, Solana, and Avalanche.

Cardinal also introduces a cross-chain Ordinals bridge, allowing Ordinals to be wrapped and utilized in DeFi ecosystems. This feature enables Ordinals to be borrowed, auctioned, or staked, all while preserving their provenance. The integration of XRP and Bitcoin into Cardano’s ecosystem not only expands the network’s utility but also positions it as a key player in the cross-chain interoperability space. This strategic move is likely to attract more users and developers, further solidifying Cardano’s role as a decentralized financial operating system.

The ADA token, Cardano’s native cryptocurrency, is currently trading at $0.7000, reflecting a 5% increase on the day. The Bollinger Bands are starting to constrict, indicating reduced volatility and an impending directional move. The 20-day SMA is near the current price at $0.7084, acting as the immediate resistance, while the lower band near $0.6188 may offer support. The Relative Strength Index (RSI) sits at 48.19, suggesting a neutral momentum, but its recent recovery from oversold territory hints at potential upside if buyers return. A daily close above the $0.71 zone could target the $0.80 psychological level next, while a breakdown below $0.62 would likely trigger a retest of early 2024 lows.

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