Cardano has broken out of a bullish flag pattern, indicating potential upward movement. Currently priced at 1.12 USD, ADA experienced a 7.11% increase in the last 24 hours, with 1.20 USD serving as a crucial resistance level.

Investors are optimistic about a possible partnership with Ripple’s RLUSD stablecoin, promoting positive sentiment around ADA. This collaboration could enhance Cardano’s DeFi functionality and attract more users.

The market shows strong confidence with open interest rising by 16.12% to 1.48 billion USD. Liquidation data indicates bearish positions being cleared, suggesting optimistic expectations for ADA’s price growth in the near future.