Cardano’s sentiment surges as Ripple (XRP) struggles

Recent data highlights a shift in market sentiment, with Cardano (CRYPTO:ADA) experiencing a significant increase in positive sentiment compared to Ripple (CRYPTO:XRP).

Over the past 24 hours, Cardano has surged by approximately 4%, pushing its price above $0.35.

This price movement reflects a growing bullish outlook for ADA, driven by favorable market conditions and upcoming developments.

In contrast, Ripple (XRP) has struggled to maintain similar levels of positive sentiment.

Data from Santiment, a leading cryptocurrency analytics firm, indicates that Cardano’s sentiment is currently outperforming XRP.

Santiment’s Weighted Sentiment metric, which evaluates social media volume and sentiment balance, shows that Cardano is enjoying its highest positive sentiment of 2024.

This increase in sentiment is notable, considering the significant 47% slump over the past five months.

One major factor contributing to Cardano’s positive sentiment is the anticipation surrounding the upcoming Chang Hard Fork, scheduled for August 27, 2024.

This upgrade is a key component of the Voltaire era in Cardano's roadmap, which focuses on improving decentralisation and advancing community-driven governance.

The Chang Hard Fork is designed to enhance the network's governance framework, making it more distributed and sustainable.

The preparatory hard fork on August 22 further supports this upgrade, generating additional excitement within the Cardano community.

The contrast between Cardano and Ripple’s sentiment underscores the market’s current focus on Cardano’s upcoming advancements.

While Ripple’s sentiment remains subdued, Cardano's developments are generating considerable enthusiasm.

The Chang Hard Fork and the broader goals of the Voltaire era are contributing to Cardano's positive market outlook, potentially positioning it as a stronger player in the cryptocurrency space in the near future.

At press time, Cardano was valued at $0.3681, and XRP was valued at $0.597.