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Turn $1,000 Into $10,000 with 6 XRP Rivals
Published
2 months agoon
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adminAfter the SEC vs. Ripple Lawsuit, XRP price has been moving sideways. Without volatility, investors will likely look for XRP rivals with higher growth potential, allowing them to turn their portfolios from $1,000 to $10,000. This article outlines six such cryptocurrencies.
6 XRP Rivals With Potential To Turn $1,000 to $10,000
Here are the 6 XRP Rivals with huge potential in the upcoming bull rally that could help investors grow their holdings.
- Solana (SOL)
- Polygon (MATIC)
- TRON (TRX)
- Stellar (XLM)
- Cardano (ADA)
- Toncoin (TOM)
Solana
Built using the Proof of History (PoH) technology, Solana can transfer 65,000 transactions per second (TPS). Although this altcoin saw a massive selloff after the FTX collapse, the comeback of SOL since 2023 is nothing short of a miracle.
The connection between Solana and FTX founder Sam Bankman Fried, which was the reason for Solana’s downfall, eventually became the reason for its success. As a result, SOL surged by 2,527% between late December 2022 and mid-March 2024. This historic rally could be the start, considering the recent near-six-month consolidation that SOL price has slipped into.
The bull flag continuation pattern forecasts a breakout from the sideways movement could propel SOL by 1127% to $1,348, making Solana a prime XRP rival.
Polygon
From its All-Time High (ATH) of $2.923, the Layer 2 token has plummeted 88%. Since March 2024, MATIC price has shed nearly 70% of its value. Due to this massive collapse in Polygon’s market value, investors can buy this top altcoin at a discount.
Additionally, data from Santiment shows Polygon’s on-chain activity has shown an incredible uptick in the past few weeks. The spike in network growth coupled with daily active addresses reveals an inflow of new investors, aka capital, and a resurgence in existing investors. This development suggests Polygon price is ready for a takeoff by ending its near-three-year old consolidation range.
TRON
TRON is another key cryptocurrency that has stolen the spotlight in recent days. This development can be attributed to the founder Justin Sun, who has triggered a meme coin migration frenzy from Solana to the TRON ecosystem via the SunPump platform.
This development has caused a massive uptick in TRON fundamentals, a key XRP rival. If such value accrual updates are consistent, TRX price could propel higher, allowing investors to turn their investment in TRX from $1,000 to $10,000.
TRON forms an Adam and Even pattern that forecasts a 62% rally in the near term to $0.1971. As mentioned above, TRX could rally much higher if this outlook continues.
Due to their strong fundamentals, these cryptocurrencies could turn $1,000 to $10,000.
Stellar
The key reason for this cryptocurrency being an XRP Rival is the involvement of an ex-Ripple employee developing the Steller blockchain, a competitor of Ripple. This altcoin has remained unfazed despite multiple bear markets and will likely explode on the news that XRP is not a security.
XLM price trades at $0.009, a much higher discount than its rival XRP, making it a good investment. The upcoming bull rally could propel XLM price to retest the ATH at $0.798.
Cardano
Cardano whales have been actively accumulating over the past mid-2022. Wallets holding between 100K to 1M and 1M to 10M ADA have increased their balance from 5.67B and 5.57B to 6.02B and 5.7B, respectively.
This massive scale of accumulation shows that whales are anticipating a surge in Cardano price in the near future. ADA being an XRP rival, therefore, makes a good investment that could help turn $1,000 to $10,000.
Toncoin
Toncoin is the recently launched meme coin on the Telegram-linked TON blockchain. This coin has witnessed massive volatility due to the connection with Telegram founder Pavel Durov’s arrest. Since this is a newly launched cryptocurrency and an XRP rival, it has a higher chance of soaring.
TON price hit an ATH of $8.28 on June 14 and shows that it could rally even higher, especially if Durov is released with a clean bill, allowing this XRP rival to shoot into the stratosphere.
All in all, SOL, MATIC, TRX, ADA, XLM, and TON are the 6 XRP rivals that show huge promise of helping investors turn their investment of $1,000 into $10,000.
Frequently Asked Questions (FAQs)
The 6 XRP rivals are Solana (SOL), Polygon (MATIC), TRON (TRX), Stellar (XLM), Cardano (ADA), and Toncoin (TON).
These cryptocurrencies have strong fundamentals, technical analysis, and on-chain data indicating a bright future, making them potential alternatives to XRP.
Solana (SOL) is expected to surge by 1127% and reach $1,348 based on the bull flag continuation pattern.
Toncoin’s connection to Telegram founder Pavel Durov and its recent volatility make it a potential candidate for a massive rally, especially if Durov is released with a clean bill.
Akash Girimath
Akash Girimath is an engineer at core, but is interested in the chaos of the financial markets. Akash is senior report and analyst who also trades cryptos on a regular basis and maintains a small crypto fund for friends and family.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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The Cardano price plunged 4.8% during the Sunday trading session to $0.33. The bearish downturn likely followed the Bitcoin price drop below $68,000 as the crypto market witnessed a surge in selling pressure ahead of the U.S. presidential election. Will the correction extend the ADA buyer coil counterattack for the surge to $0.5 in November?
Will Cardano Price Reach $1.05 This November?
The cryptocurrency market is experiencing a renewed bullish momentum ahead of the U.S. presidential election in 2024. The Cardano price managed to leverage this broader market sentiment to shift its prevailing downtrend to sideways.
Since mid-June, the Cardano price has been resonating strictly between two converging trendlines, indicating the formation of a symmetrical triangle pattern. Theoretically, this pattern guides a temporary consolidation between a dimension, dynamic support, and resistance to republish the prevailing trend.
If the market corrections prolong, the ADA price could plunge another 2.8% to seek support at an ascending trendline intact since June 2023. Historical data shows the Cardano price reversal from this support has led to a recovery ranging from 35% to 250%. Thus, the ADA price could strengthen its grip over the asset at the bottom support and attempt a bullish breakout from the key resistance of current correctional at $0.37.
Crypto buyers need to achieve this breakout by mid-November if they aim to reach the $0.5 target by month’s end.
Whale Accumulation and MVRV Data Hint at Cardano Price Recovery
According to santiment data, the 30-day market cap to realized cap ratio (MVRV) has recently plunged to a -6.37% mark. The MVRV ratio compares an asset’s market capitalization to its realized capitalization and helps determine whether the asset is overvalued or undervalued.
Historically, the MVRV breakdown below -6% has formed local market bottoms. Generally, the negative value indicates a loss-making short-term trader could capitulate if the correction trend extends. Exit from these speculative traders often attracts long-term business and drives sustained recovery.
Moreover, ADA buyers with wallets holding 100 million to 1 billion coins have drastically increased their accumulation from 2.06 billion to 2.95 billion over the last four months. This significant accumulation trend implies growing confidence among major investors in Cardano’s long-term potential.
Historically, such accumulation by large holders, or “whales,” is often a precursor to a price uptrend, as it indicates strategic buying and reduced sell pressure. However, if the selling pressure at the overhead trendline persists, the Cardano price may extend the sideways action.
Frequently Asked Questions (FAQs)
This trend signals growing confidence among major investors and typically precedes a price uptrend due to strategic buying and reduced sell pressure
Cardano’s price could hit $0.5 if it successfully breaks out of the symmetrical triangle pattern by mid-November
A retest of the multi-month ascending support trendline intact since June 2023 could trigger a bullish breakout
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Cardano Price Mirrors 2020 Rally, Will ADA Hit $6?
Published
5 days agoon
November 2, 2024By
adminThe crypto market is gradually gaining momentum for a Q4 rally as Bitcoin entered the $70,000 region. Amid the renewed bullish sentiment, the Cardano price shows the potential for a massive surge as it mirrors the formation of a 2020 rally.
By press time, the ADA price had traded at $0.35, with an intraday loss of 1.87%. According to Coingecko data, Cardano’s market cap holds at $12.38 Billion with a 24-hour trading volume of $336.4 Million.
Cardano Price Action Reflects 2020 Rally, Can ADA Hit $6?
The layer-1 cryptocurrency Cardano has shifted its prevailing correction trend sideways above the $0.034 price level. This consolidation in the weekly chart shows a local bottom formation around 30% higher than the previous low of $0.024.
A closer look at ADA’s current trajectory reveals intriguing similarities to 2020-style price formation, which triggered a rally to $3.1 All-time-high. The historical data shows that the Cardano price prediction drives a major accumulation phase for buyers to onboard and for a stable bottom.
The historical data shows that the Cardano price drives a major accumulation phase for buyers to onboard, recuperating the bullish momentum. The crypto market today shows the ADA price is forming to second before kick-starting its actual rally.
The upcoming U.S. election is likely to influence the momentum of the potential rally if a crypto-friendly candidate is elected. If history repeats, the Cardano price could surge by over 1600% to hit the psychological level of $6.
Whale Accumulation Signals Potential ADA Price Reversal
The supply distribution data from Santiment shows the largeholders’ preparation for ADA coin reversal with major accumulation trends. From mid-April 2022, whale wallets containing between 100 million and 1 billion ADA have collectively boosted their accumulation from 2 billion to 2.94 billion ADA.
This substantial accumulation by major investors suggests a strong belief in ADA’s potential for price appreciation. Such behavior often indicates that these large holders anticipate a market reversal or a bullish trend in the near future.
On a contrary note, if ADA sellers continue to defend the $0.42 barrier, the price reaction could extend its sideways action and delay a bullish breakout.
Frequently Asked Questions (FAQs)
Cardano’s current price action is showing strong similarities to its 2020 trajectory, which led to a significant rally and an all-time high of $3.1.
The upcoming U.S. election could influence the momentum of a potential rally, particularly if a crypto-friendly candidate is elected.
This substantial accumulation suggests strong confidence in ADA’s potential for a price reversal or upward trend.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Can Cardano Price Hit $5 If Bitcoin Hits $300,000?
Published
1 week agoon
October 29, 2024By
adminCardano price could be on the precipice of a massive upside move as Bitcoin eyes an ambitious $300,000 milestone. Analysts have speculated how this could happen in the next 10 to 18 months as BTC’s price looks to clear an 8-month consolidation zone. Can Bitcoin’s momentum drive the price of Cardano to $5 and beyond?
Why Is Cardano Price Up Today?
On October 29, the ADA price increased by 4.6% to trade at $0.3491 during the London pre-market hours. This increase is likely attributed to Bitcoin’s surging above the psychological resistance level of $70,000, which has investors hoping for a new all-time high in the coming days. The crypto market is up 2.5%, with meme coins leading the rally.
Additionally, analysts foresee Cardano price surging in the future as they recently announced an ADA-BitcoinOS bridge that could capitalize on the $1.4 trillion BTC market by bringing DeFi to the king of crypto
BitcoinOS Makes Cardano:
☑️A DeFi Layer for Bitcoin
☑️A Privacy Layer for Bitcoin
A $1.3 trillion opportunity, all accessible using BTC as gas. Bitcoiners won’t even know they’re using ADA.
“BitcoinOS is probably the biggest news item Cardano has ever had.” – @IOHK_Charles https://t.co/jsZ40UU7ht pic.twitter.com/uv9nQGHZJi
— BitcoinOS (@BTC_OS) October 28, 2024
This news has caused Cardano’s social dominance to surge, leading to the ‘Cardano’ term trending on X. Spikes in social dominance suggest that an asset is being heavily discussed on social media platforms, and if the discussions are positive, they are usually followed by a price increase.
With Bitcoin price rising, speculation on how Cardano becoming a Bitcoin L2 could pump the price of ADA has saturated the crypto space.
Will ADA Price Hit $5 If Bitcoin Soars to $300K?
Famous crypto analyst PlanC has predicted, using his popular Power Law indicator, that Bitcoin price will reach $150,000 to $300,000 within the next 10 to 18 months. He notes that the last eight months have been a healthy consolidation, and once BTC breaks above the $80,000 mark, “the probability of ever dropping below $60k will be extremely low.”
Once Bitcoin breaks $80,000…
I predict there will be a very low probability
of BTC ever dropping below $60,000 again.
— PlanC (@TheRealPlanC) October 29, 2024
Crypto trader Zach Humphries thinks Cardano price will set new all-time highs around $5 during this cycle. This would push the ADA market cap to around $178 billion, with 35 billion coins circulating.
This prediction is likely since the highest price Cardano has ever reached was $3.10. Currently, ADA is 89% down from the ATH, presenting a massive 1300% potential increase from the current price.
If Cardano founder Charles Hoskinson executes his vision with BitcoinOS to bring BTC into the crypto fold, the price of ADA will soar even higher than $5.
Cardano Price Analysis: Key Levels To Watch
Cardano price action is not pretty, even though the market is green. The asset is up only a few percentage points, but the market structure is mostly bearish, with several strong resistance levels up ahead.
However, this should not be a worrying factor, as ADA prices have been known to surge aggressively during bull markets.
Key levels to watch include $0.43, which marks the immediate resistance, and beyond that, $0.67, which coincides with the 78.6% Fibonacci retracement level. Conversely, Cardano may find support between $0.20 and $0.3 if bears push the price down.
While analysts are extremely bullish on the ADA price in the long term, the short-term prediction for the asset is neutral to slightly bullish. However, this outlook can change at any moment if market conditions shift. A clear breakout above $0.67 will change the outlook to extremely bullish, while a break down below $0.3 will turn the prediction bearish.
Frequently Asked Questions (FAQs)
Cardano’s price recently increased by 4.6%, likely due to Bitcoin surpassing the $70,000 mark. This rise in Bitcoin’s price often boosts the broader crypto market, with meme coins and other assets like Cardano gaining as well.
Many analysts suggest that Cardano (ADA) could reach or exceed $5 if Bitcoin achieves $300,000. The correlation with BTC and potential developments, like the ADA-BitcoinOS bridge, are strong drivers that could propel ADA to new highs.
The ADA-BitcoinOS bridge is a project aiming to connect Cardano with Bitcoin’s vast market, allowing decentralized finance (DeFi) services to tap into Bitcoin’s ecosystem. This could significantly boost ADA’s value by increasing its use and visibility in the crypto space.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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