Will XRP follow Cardano’s [ADA] footsteps and hit $2?

Almost every cryptocurrency was on the train to the moon. XRP, Cardano [ADA], and several other altcoins proved that they were taking over. Bitcoin [BTC] wasn’t too far behind as the king coin broke free from its $45K constraint and moved on to $46K. Even though BTC did not make any major profits over the last 24-hours, the asset’s market cap was finally close to hitting $900 billion.

Cardano [ADA] undoubtedly stole the show yesterday. The altcoin’s jump towards $2 left the whole market in awe. Over the last seven days, ADA managed to pick up gains worth 45%. ADA even went on to dethrone the Binance coin [BNB] as the third largest coin and took over its position. While this surge was linked to its smart contracts platform announcement. another coin witnessed seminal growth.

XRP managed to break a prominent line of resistance at $1 and finally pushed past this zone. The altcoin bagged gains of about 10.46% over the last 24-hours which further caused its price to hit $1.14, at the time of writing. Similar to ADA, XRP had secured profits of 44% throughout the week.

With regard to its market cap, XRP was valued at $53.28 billion and was standing still as the fifth-largest cryptocurrency right below Tether [USDT] and above Dogecoin [DOGE].

XRP one-day price chart on Binance

The Parabolic SAR indicator used in the one-day price chart of the altcoin revealed a bullish notion. The indicator formed dotted lines right below the candlesticks. This further acted as a barricade against any potential downward breakouts. The Awesome Oscillator indicator followed suit and laid out green closing bars which again signified the presence of the bull.

The Relative Strength Index [RSI] indicator announced that the altcoin was being overbought. XRP was being overbought right from the 10th of this month. If this notion persists, the chances of XRP hitting $2 strengthens.