This article will highlight all of the key differences between Cardano and Ripple. We will also find out in 2021 whether it is worth buying Cardano or Ripple. We can also see which of the two is the best investment.
To say that the traditional financial world suffered a bloodshed in 2020 is an understatement. However, many industry experts were surprised at how well the crypto market weathered the COVID-19 storm.
All in all, many mutual funds and large corporations invested in Bitcoin, Ethereum, Ripple, and Cardano to protect themselves from future uncertainties.
In addition, this shift did not go unnoticed by individual investors. Additionally, the cryptocurrency saw bull runs on all major tokens as more and more people started investing in cryptocurrency in 2021.
While Bitcoin has been a popular option for several years, many traders have also chosen to invest in the leading altcoins. However, two of the most notable are Cardano and Ripple. But should you invest in Cardano or buy Ripple in 2021?
We have put together the following comparison to see how the individual cryptocurrencies measure up against each other.
Cardano vs Ripple: what are the main differences between them?
It is important to know the main differences between the two cryptocurrencies. However, we should have clear ideas of how they compete and differ from one another.
Cardano was founded in 2015. In addition, the native asset ADA was founded to offer a platform not only for sending and receiving a native cryptocurrency. Also to facilitate smart contracts and the development of distributed applications (DApps).
As for the blockchain, Cardano offers a unique two-tier architecture, one for handling general transactions and the other for handling smart contracts.
In addition, Cardano was developed by former Ethereum co-founder Charles Hoskinson. In addition, Cardano is the world’s first peer-reviewed digital currency. In addition, it has been audited by several prestigious academic institutions.
Ripple was first developed in 2004 by Ryan Fugger, a web developer based in Vancouver, BC, Canada. In 2005, Fugger began building Ripplepay as a financial service. In particular, its primary purpose was to provide secure payment options to members of an online community over a global network.
In addition, the company created a new digital currency system in May 2011, for which it issued its own cryptocurrency, XRP. This led to the development of a new system by Jed McCaleb in 2011.
In short, Ripple created XRP to remove Bitcoin’s reliance on centralized exchanges. Today, XRP is one of the largest cryptocurrencies in capitalization.
Also read: Cardano vs Ethereum – What’s the Difference?
Transaction and speed
Cardano has pretty impressive speeds thanks to the Hydra 2 scaling solution implemented over the existing proof-of-stake protocol. This is mainly responsible for the development of Cardano (ADA). In fact, the simulations show that the network can process over a million transactions per second.
This is also made possible by the two-layer system. In addition, this could be the reason to buy Cardano in 2021. Investors should keep in mind, however, that the one million TPS advertised by Hoskinson is yet to be realized.
Ripple’s suite of products, including XRP, is designed to help you transfer money quickly around the world. In addition, global recognition and speed are essential for traders looking to work internationally.
XRP can process 1,500 transactions per second with an average ledger billing of 3-5 seconds. Consequently, this speed makes XRP a convenient currency for instant transactions when compared to other leading digital currencies.
Cardano vs Ripple: Which is the Better Investment?
People looking to invest in crypto in 2021 may have Cardano and / or Ripple already earmarked for inclusion in their portfolios. In addition, both tokens have great potential.
The decision whether to invest in Cardano or buy Ripple in 2021 will inevitably depend on your investment goals. What’s more, there is no reason to choose one. But to compare Cardano to Ripple, there are some key metrics.
Also, there are indicators that we can use to distinguish the two in terms of investment opportunity.
First, cryptocurrency price predictions are usually based on technical analysis of historical price movement. Second, we can then see the predictions of some of the leading platforms in the industry. Third, expert insights can be a great way to get more information and gauge mainstream desire for a particular cryptocurrency.
Cardano vs Ripple: price history
If you’re looking to invest in Cardano, you may be aware that the price flow is a little different than many other altcoins.
ADA quickly achieved equity in the US dollar in the first few months of its trading life cycle. On top of that, it’s an all-time high of $ 1.18, which was hit in January 2018. The surge proved to be short-lived, however, and ADA quickly plummeted to less than $ 0.10 per token – and ended the year at around $ 0.03.
ADA remained subdued, not rising above $ 0.10 through summer 2020. Additionally, ADA turned a curve towards the end of the year in a rush to invest in it. Additionally, prices soared over 500%, reaching $ 0.92 by the end of January 2021. Additionally, ADA hit its new ATH of $ 1.48 on February 27, 2021.
On the flip side, Ripple hit its all-time high price on January 4th, 2018. Its value hit over $ 0.40 per coin in January 2021, twice as much as in December. Ripple’s price has been below a dollar a coin for more than a year, with little sign of any increase.
Recently, XRP showed bullish sentiment, with the price above $ 0.48 today. In particular, the XRP price soared to its 16-month highs, seeing the highest price mark since July 2019. Furthermore, the rise to a new annual high shows the likelihood of a new uptrend.
Cardano vs Ripple: Future Price Predictions
ADA has a circulation volume of 31.9 billion and a maximum supply of 40 billion. According to CoinGecko, the ADA price at the time of writing is $ 1.11 with a 24-hour trading volume of $ 5.9 billion.
ADA / USDT Price Chart (Source: TradingView)
- Resistance Level 1 – $ 1.3
- Resistance Level 2 – $ 1.53
- Next resistance level 3 – $ 1.78
- Support level 1 – $ 0.84
- Support level 2 – $ 0.7
- Next level of support 3 – $ 0.6
The graph above shows ADA’s impressive performance over the past few days. ADA shows a bullish trend. Also, if the trend continues, ADA will run with the bulls, surpassing its $ 1.53 resistance level and rising to $ 1.78.
If the uptrend continues, the ADA can rise above its all-time high (ATH) of $ 1.48. On the other hand, if investors move against the cryptocurrency, the bears could take over. Additionally, ADA price could fall close to $ 0.6, a bearish signal.
According to CoinGecko, the XRP price at the time of writing is $ 0.46 with a 24-hour trading volume of $ 3.36 billion. In addition, XRP has a circulation volume of 45.4 billion and a maximum supply of 100 billion.
XRP / USDT Price Chart (Source: TradingView)
- Resistance Level 1 – $ 0.52
- Resistance Level 2 – $ 0.61
- Next resistance level 3 – $ 0.7
- Support level 1 – $ 0.43
- Support level 2 – $ 0.34
- Next level of support 3 – $ 0.24
The graph above shows the performance of XRP over the past few days. XRP shows a bullish trend. If this continues, XRP could beat its $ 0.61 resistance level and climb to $ 0.7.
If all goes well, XRP can also go above its ATH price of $ 3.84. On the other hand, if investors move against the cryptocurrency, the bears could take over. Additionally, XRP price could drop to nearly $ 0.24, a bearish signal.
So is Cardano a better investment than Ripple?
It’s hard to decide when looking at Cardano vs Ripple as an investment potential. While Cardano is more established and has a higher price tag. More so, history shows us that it is not immune to sudden falls in price.
Those looking to invest in Cardano can also get a much larger stake. That is, with tokens that are currently barely traded for the price of a single US dollar. Ultimately, the investment growth is estimated as a percentage. In addition, both coins are forecast to perform well in 2021.
Whether you decide to invest in Cardano or buy Ripple in 2021, meeting your expectations is important. Both coins have seen sudden and prolonged price drops. In addition, the cryptocurrency market is notoriously volatile. Ultimately, the final decision rests with investors.
How do I choose between Cardano and Ripple?
Many aspiring investors will first compare cryptocurrencies to determine which will best fit their portfolio goals. However, comparing Cardano and Ripple is a daunting proposition. Both cryptocurrencies offer many opportunities when they are part of a diversified portfolio.
Cardano vs Ripple – Which is the Better Investment?
Both Cardano and Ripple have great investment opportunities in 2021. Analysts differ on the exact price trend, but most agree that ADA and XRP will appreciate in value in the years to come.
Where can I buy cryptocurrency in 2021?
If you want to buy crypto in 2021, you need to find a broker or exchange that can make the transaction easier.
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect the views of CoinQuora. None of the information in this article should be construed as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.