Cardano’s Hoskinson Teases ‘Secret Cult’ Meetings with Ripple CEO – Impact on ADA Price?

cryptonews.com:

Cardano has risen by 2% in the past 24 hours, with the ADA price climbing to $0.3512 on a day when the crypto market has dropped by 3%.

ADA is now up by 3.5% in a week and by 4% in a fortnight, and while the alt has fallen by 19% in a month it has also gained by 31% in the last 12 months.

Its move today comes after Cardano founder Charles Hoskinson jokingly asked Ripple’s Brad Garlinghouse about when the pair would have “Secret Cult meetings”, doing so in response to disparaging comments about ADA and XRP from investor Raoul Paul.

Hoskinson’s joke is unlikely to have an impact on ADA’s price, yet given the coin’s strong fundamentals and steady growth, today’s rally may only be the beginning of something bigger.

ADA has been on an upwards charge over the past few days, with its indicators suggesting that it may fall down from an overbought position in the near term.

For instance, its relative strength index (purple) has gone from just over 70 to around 55 today, and because it had also hovered around 70 yesterday it may fall lower in the next few hours.

Meanwhile, its 30-period moving average (orange) is well above the 200-period average (blue), implying that it also needs to come down soon.

What’s also discouraging about ADA right now is that its trading volume is very modest, standing at just under $300 million today, compared to $2 billion in March.

This may have been what investor and Angel Vision founder Raoul Paul was referring to when, in an interview, he compared the ADA and XRP communities to cults.

In particular, Paul noted that XRP last had a really big rally “two bull markets ago,” implying that its best days are now behind it.

And he lumped ADA in with XRP, suggesting that investors and followers are being misled