This article will compare two coins with nearly the same market cap. They are among the top 10 cryptocurrencies while not being quite the same in terms of functionality. What makes them a bit similar is that both brands work with entities that initially were not associated with cryptocurrencies. Ripple works closely with banks, and Cardano works with all kinds of organizations and is already used by governments. Let's see the features of these coins and which is the better investment for you.
Cardano is a blockchain-based ecosystem that can host and run decentralized apps (dApps) and smart contracts. In terms of functionality, it resembles Ethereum, but unlike the latter, Cardano was created with the potential for scalability and high operation speed in mind. Bitcoin and Ethereum are both relatively slow networks. It makes their adoption a more challenging task. Cardano is more suitable for everyday use.
The platform was launched in 2015. One of the key creators of Cardano is Charles Hoskinson, one of the Ethereum co-founders. Unlike Buterin, he was positive about making Ethereum a commercial project. That's why Hoskinson was omitted from the Ethereum team, and also, that's why Cardano was more inclusive in terms of sponsorships and partnerships.
The native token of the Cardano ecosystem is ADA. As of July 2022, the token's market cap exceeds $15 billion. Several governments use Cardano to handle data, while celebs and global brands use the apps built on Cardano. It's safe to say that Cardano is a successful project, and it continues its growth and development.
Ripple is a payment protocol. It uses a cryptocurrency called XRP, which is often called Ripple, although that's not entirely correct. The platform was launched in 2012 in the US. Ripple was among the first significant cryptocurrency brands to cooperate with banks and financial institutions, which was unusual for the cryptocurrency industry at that period. Some criticized Ripple for relative centralization, while others praised the fast speed of the network and low fees.
In 2017 and 2018, Ripple was a scorching topic online. At some point, XRP's market cap was the second biggest after Bitcoin's. 2020 wasn't that bright for Ripple, and the coin went below its usual third position in the rating. Also, 2020 was the year when Ripple went under attack from the SEC and was delisted by Coinbase. As of July 2022, XRP holds the 7th position with a market cap exceeding $15 billion.
Factor | Cardano (ADA) | Ripple (XRP) |
The price as of July 2022 | $0.45 | $0.31 |
Market cap as of July 2022 | $15.2 billion | $15.3 billion |
Rank as of July 2022 | #8 | #7 |
All-time high | $3.09 (September 2, 2021) | $3.4 (January 7, 2018) |
Decline (compared to all-time high) | 85.4% | 90.7% |
All-time low | $0.019 (March 13, 2020) | $0.00268 (May 22, 2014) |
Growth (compared to an all-time low) | 2,234.1% | 11,669% |
Popular markets | Binance, Digifinex, Upbit, Coinbase, HitBTC | Binance, Upbit, Bitget, HitBTC, FMFW.io |
Platform | Cardano | Ripple |
Consensus mechanism | Proof-of-Stake | Ripple Protocol Consensus Algorithm (RPCA) |
Products | IOHK, EMURGO | Ripple Academia, SBI Ripple Asia |
Use cases | Smart contracts, dApps, data, financial operations | Financial operations |
The price and the market cap
In terms of market cap, ADA and XRP are the closest rivals. As of July 2022, both cryptocurrencies have a market cap of around $15 billion and occupy the 7th and the 8th positions in the rating. The prices for both coins are in the same zone – between 30 and 50 cents per coin. In general, ADA tends to have a higher price than XRP. The latter never reached a 90 cents mark in the latest 180 days, while ADA crossed the $1 line several times in the same period of time.
One may suggest that XRP's best days are gone. The coin reached its all-time high back in 2018. ADA had its highest price in September of 2021. Both ATHs were about the same – between $3 and $3.5. In general, it seems that ADA performs better than XRP as of now. Not that we are claiming that XRP has no future, but Cardano's coin price trajectory appears to be more promising.
Popular markets
It is not hard to guess that as the market leaders, both coins are heavily presented on crypto exchanges. What is less obvious is that because of legal issues with Ripple, XRP was dropped by the largest US exchange Coinbase. In this sense, Cardano (ADA) has a more solid presence on the market. It's worth saying, though, that a single huge exchange delisting XRP is not a tragedy for the future of this coin. Even in the US, XRP is available on many top exchanges, including Kraken and many others.
Platform
Both ecosystems are based on their custom platforms. It makes them independent and robust compared to rivals building their platforms on top of third-party blockchains.
Consensus mechanism
Cardano and Ripple use eco-friendly consensus mechanisms. Cardano leans on a popular Proof-of-Stake. Ripple is based on its unique consensus mechanism, The Ripple Protocol consensus algorithm (RPCA). Both protocols are criticized for limited decentralization. Nevertheless, both of them still work the way they should. We can't say anything bad about PoS and RPCA, nor can we prefer one over the other.
Products
The additional products of both ecosystems are barely aimed at an end-user and are instead targeted at researchers and entrepreneurs. It is not bad, however, adding some products would have benefited both Ripple and Cardano.
Use cases
Speaking of use cases, we should note that Ripple is a less inclusive platform. It was created mainly for private banking purposes, and it doesn't have that much to offer on top of serving as a payment operator. Cardano is a multi-functional project that can be used to build other diverse products. It makes Cardano more versatile than Ripple. Potentially, Cardano's use cases can cover a bigger population.
Company |
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7 user review | 4 user review |
Cardano coin (ADA) is a cryptocurrency launched in 2017. The currency is based on the Cardano network. The leader of the dev team is Charles Hoskinson, an experienced developer who worked for Ethereum and BitShares prior to the launch of Cardano. Cardano is the first cryptocurrency to use academically peer-reviewed open-source code, which makes this project quite unique.
The consensus algorithm of Cardano is Proof-of-Stake. Cardano is usually praised for its high level of security and quick transactions. Cardano currency quickly gained value and became one of the top 10 cryptocurrencies by market capitalization.
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Ripple is a global payment protocol aimed to provide fast transactions and cheap payments internationally. The network uses a digital currency known as XRP (sometimes it's referred to as Ripple). Unlike other cryptocurrencies Ripple is not aimed to replace banks, rather this project is created to improve the work of banks (including transactions between different banks) via blockchain solutions.
|
coin | coin |
2017 | 2012 |
International | International |
No data | No data |
Public | Public |
Public blockchain | Public blockchain |
0.3155 | 0.5227 |
1.3300 | 3.8400 |
-3.43 | -3.65 |
9764060.65041 | 69102147.71530 |
No data | No data |
45000000000.00000 | 99999999999.99999 |
No data | No data |
45000000000.00000 | 99987271820.00000 |
50 | 1500 |
No data | No data |
No data | No data |
Ouroboros | No data |
PoS | No data |
No data | No data |
No data | No data |
25927070538.00000 | No data |
yes | No data |
0.000000000000 | No data |
No data | No data |
Company | ||
---|---|---|
User rating | 7 user review | 4 user review |
Cryptogeek rating | ||
Trust Score How it works |
About |
Cardano coin (ADA) is a cryptocurrency launched in 2017. The currency is based on the Cardano network. The leader of the dev team is Charles Hoskinson, an experienced developer who worked for Ethereum and BitShares prior to the launch of Cardano. Cardano is the first cryptocurrency to use academically peer-reviewed open-source code, which makes this project quite unique.
The consensus algorithm of Cardano is Proof-of-Stake. Cardano is usually praised for its high level of security and quick transactions. Cardano currency quickly gained value and became one of the top 10 cryptocurrencies by market capitalization.
|
Ripple is a global payment protocol aimed to provide fast transactions and cheap payments internationally. The network uses a digital currency known as XRP (sometimes it's referred to as Ripple). Unlike other cryptocurrencies Ripple is not aimed to replace banks, rather this project is created to improve the work of banks (including transactions between different banks) via blockchain solutions.
|
---|---|---|
Type | Type coin | Type coin |
Founding Date | Founding Date 2017 | Founding Date 2012 |
Country | Country International | Country International |
Languages | Languages No data | Languages No data |
Team | Team Public | Team Public |
Protocol | Protocol Public blockchain | Protocol Public blockchain |
Current price (USD) | Current price (USD) 0.3155 | Current price (USD) 0.5227 |
All-time high (USD) | All-time high (USD) 1.3300 | All-time high (USD) 3.8400 |
Price change (24h) | Price change (24h) -3.43 | Price change (24h) -3.65 |
Volume (24h) | Volume (24h) 9764060.65041 | Volume (24h) 69102147.71530 |
Hashrate | Hashrate No data | Hashrate No data |
Max Supply | Max Supply 45000000000.00000 | Max Supply 99999999999.99999 |
Total supply | Total supply No data | Total supply No data |
Circulating Supply | Circulating Supply 45000000000.00000 | Circulating Supply 99987271820.00000 |
Transaction speed / Block time | Transaction speed / Block time 50 | Transaction speed / Block time 1500 |
Transaction fee | Transaction fee No data | Transaction fee No data |
Mining profitability | Mining profitability high | Mining profitability low |
Algorithm | Algorithm Ouroboros | Algorithm No data |
Proof type | Proof type PoS | Proof type No data |
Fully premined | Fully premined No data | Fully premined No data |
Smart contract address | Smart contract address No data | Smart contract address No data |
Total coins mined | Total coins mined 25927070538.00000 | Total coins mined No data |
Is trading | Is trading yes | Is trading No data |
Block reward | Block reward 0.000000000000 | Block reward No data |
Block time | Block time No data | Block time No data |
www.cardano.org | ripple.com |
Cardano | @Ripple |
Website | Website www.cardano.org | Website ripple.com |
---|---|---|
Twitter Cardano | Twitter @Ripple |
Friendly Peer-reviewed technology Scalable | Affordable Solves problems and creates opportunities Moving into CBDCs |
Competitors in the same space Still in development Multiple chains | Not decentralized Uses a pre-mining protocol |
User rating | User rating 7 user review | User rating 4 user review |
---|---|---|
Cryptogeek rating | Cryptogeek rating | Cryptogeek rating |
Advantages | Advantages Friendly Peer-reviewed technology Scalable | Advantages Affordable Solves problems and creates opportunities Moving into CBDCs |
Disadvantages | Disadvantages Competitors in the same space Still in development Multiple chains | Disadvantages Not decentralized Uses a pre-mining protocol |
Cardano (ADA) user rating is 4.3, based on 7 user reviews. Ripple (XRP) user rating is 5, based on 4 user reviews.
We also calculate the special Cryptogeek TrustScore based on the characteristics of each coin.
We choose the winner based on our TrustScore Rating. Please remember, it’s still up to you which company to choose! How do we calculate Trust Score? |
We can't say that buying ADA is better than buying XRP and vice versa. It depends on your goals. If you want a diversified portfolio, you can have both coins. If you choose crypto that performs better on the market in terms of price, you can see that ADA has had better stats lately. Of course, it doesn't necessarily mean it has a brighter future than XRP. Nevertheless, if you wish to have crypto with better ties with banks, then XRP can be a better pick than ADA.
This article will compare two coins with nearly the same market cap. They are among the top 10 cryptocurrencies while not being quite the same in terms of functionality. What makes them a bit similar is that both brands work with entities that initially were not associated with cryptocurrencies. Ripple works closely with banks, and Cardano works with all kinds of organizations and is already used by governments. Let's see the features of these coins and which is the better investment for you.
Cardano is a blockchain-based ecosystem that can host and run decentralized apps (dApps) and smart contracts. In terms of functionality, it resembles Ethereum, but unlike the latter, Cardano was created with the potential for scalability and high operation speed in mind. Bitcoin and Ethereum are both relatively slow networks. It makes their adoption a more challenging task. Cardano is more suitable for everyday use.
The platform was launched in 2015. One of the key creators of Cardano is Charles Hoskinson, one of the Ethereum co-founders. Unlike Buterin, he was positive about making Ethereum a commercial project. That's why Hoskinson was omitted from the Ethereum team, and also, that's why Cardano was more inclusive in terms of sponsorships and partnerships.
The native token of the Cardano ecosystem is ADA. As of July 2022, the token's market cap exceeds $15 billion. Several governments use Cardano to handle data, while celebs and global brands use the apps built on Cardano. It's safe to say that Cardano is a successful project, and it continues its growth and development.
Ripple is a payment protocol. It uses a cryptocurrency called XRP, which is often called Ripple, although that's not entirely correct. The platform was launched in 2012 in the US. Ripple was among the first significant cryptocurrency brands to cooperate with banks and financial institutions, which was unusual for the cryptocurrency industry at that period. Some criticized Ripple for relative centralization, while others praised the fast speed of the network and low fees.
In 2017 and 2018, Ripple was a scorching topic online. At some point, XRP's market cap was the second biggest after Bitcoin's. 2020 wasn't that bright for Ripple, and the coin went below its usual third position in the rating. Also, 2020 was the year when Ripple went under attack from the SEC and was delisted by Coinbase. As of July 2022, XRP holds the 7th position with a market cap exceeding $15 billion.
Factor | Cardano (ADA) | Ripple (XRP) |
The price as of July 2022 | $0.45 | $0.31 |
Market cap as of July 2022 | $15.2 billion | $15.3 billion |
Rank as of July 2022 | #8 | #7 |
All-time high | $3.09 (September 2, 2021) | $3.4 (January 7, 2018) |
Decline (compared to all-time high) | 85.4% | 90.7% |
All-time low | $0.019 (March 13, 2020) | $0.00268 (May 22, 2014) |
Growth (compared to an all-time low) | 2,234.1% | 11,669% |
Popular markets | Binance, Digifinex, Upbit, Coinbase, HitBTC | Binance, Upbit, Bitget, HitBTC, FMFW.io |
Platform | Cardano | Ripple |
Consensus mechanism | Proof-of-Stake | Ripple Protocol Consensus Algorithm (RPCA) |
Products | IOHK, EMURGO | Ripple Academia, SBI Ripple Asia |
Use cases | Smart contracts, dApps, data, financial operations | Financial operations |
The price and the market cap
In terms of market cap, ADA and XRP are the closest rivals. As of July 2022, both cryptocurrencies have a market cap of around $15 billion and occupy the 7th and the 8th positions in the rating. The prices for both coins are in the same zone – between 30 and 50 cents per coin. In general, ADA tends to have a higher price than XRP. The latter never reached a 90 cents mark in the latest 180 days, while ADA crossed the $1 line several times in the same period of time.
One may suggest that XRP's best days are gone. The coin reached its all-time high back in 2018. ADA had its highest price in September of 2021. Both ATHs were about the same – between $3 and $3.5. In general, it seems that ADA performs better than XRP as of now. Not that we are claiming that XRP has no future, but Cardano's coin price trajectory appears to be more promising.
Popular markets
It is not hard to guess that as the market leaders, both coins are heavily presented on crypto exchanges. What is less obvious is that because of legal issues with Ripple, XRP was dropped by the largest US exchange Coinbase. In this sense, Cardano (ADA) has a more solid presence on the market. It's worth saying, though, that a single huge exchange delisting XRP is not a tragedy for the future of this coin. Even in the US, XRP is available on many top exchanges, including Kraken and many others.
Platform
Both ecosystems are based on their custom platforms. It makes them independent and robust compared to rivals building their platforms on top of third-party blockchains.
Consensus mechanism
Cardano and Ripple use eco-friendly consensus mechanisms. Cardano leans on a popular Proof-of-Stake. Ripple is based on its unique consensus mechanism, The Ripple Protocol consensus algorithm (RPCA). Both protocols are criticized for limited decentralization. Nevertheless, both of them still work the way they should. We can't say anything bad about PoS and RPCA, nor can we prefer one over the other.
Products
The additional products of both ecosystems are barely aimed at an end-user and are instead targeted at researchers and entrepreneurs. It is not bad, however, adding some products would have benefited both Ripple and Cardano.
Use cases
Speaking of use cases, we should note that Ripple is a less inclusive platform. It was created mainly for private banking purposes, and it doesn't have that much to offer on top of serving as a payment operator. Cardano is a multi-functional project that can be used to build other diverse products. It makes Cardano more versatile than Ripple. Potentially, Cardano's use cases can cover a bigger population.