XRP price is defending the support level at $2, but it has also failed to make meaningful gains in recent weeks as traders remain cautious because of macroeconomic concerns. One analyst now believes that if Ripple fails to make any gains, it will face a massive selloff from whales and top holders, which makes it similar to meme coins. Amid this criticism, traders are now looking for the top XRP rivals to buy to make significant gains.
XRP Rivals in Focus as Analyst Likens Ripple to Meme Coins
According to a recent post by analyst Crash on X, XRP price may be on the verge of a massive selloff from the existing holders. The traders who made significant gains late last year as Ripple soared are now looking to book profits, but there is insufficient demand from buyers considering the current bearish conditions in the market.
The analyst added that he was taking a short position on the XRP price as it will likely follow the same path as meme coins, which have already crashed by 90%. Additionally, reduced network activity adds to the likelihood that the price will record a massive decline. He stated,
“XRP is the biggest memecoin in disguise. It has little to no activity or revenue on the chain, just like a memecoin. It’s truly miraculous for it to be this high, and everyone who holds it is very fortunate they can sell it.”
Amid this sentiment, traders are seeking the top XRP rivals that they can buy today to make significant gains if the altcoin declines in price.
Top 3 XRP Rivals to Buy Today
The top 3 XRP rivals that traders should consider buying today to make significant gains include Stellar (XLM), Solana (SOL), and Cardano (ADA). These altcoins have a bullish technical outlook as well as some strong fundamentals that suggest they may be primed for an uptrend.
Stellar (XLM)
One of the top XRP rivals to buy is Stellar (XLM), which trades at $0.24 at press time. This altcoin is often compared to Ripple, considering that the two blockchain projects seek to offer easier access to cross-border payments.
Analyst Andrew Griffiths on X has shared a bullish Stellar price prediction, suggesting that the XLM token might soon rally to record highs. He noted that XLM was trading within a bullish pattern, and if it flips resistance at $0.44, it could support gains past the all-time high of $0.87 and surpass $1.
If XLM can achieve this price target, it is likely to outperform XRP if the latter records a surge in selling activity, making it one of the top XRP competitors to buy.
Solana (SOL)
Solana (SOL) also ranks among the top XRP rivals to buy today because of a bullish technical outlook and strong network activity. A recent Coingape article reported that the SOL price can rally to $150 soon after clearing a key liquidation level after its recent gains.
The rising network activity indicates that the Solana price can also outperform Ripple. Recently, the SOL network recorded the highest daily revenue since February 21, suggesting that more people are using the blockchain.
As network activity rises, it is bullish for SOL price, indicating the likelihood that it may outperform XRP. As such, it is among the top competitors of XRP to acquire today.
Cardano (ADA)
The other XRP rival that a trader should consider buying is Cardano (ADA). At press time, Cardano trades at $0.62 with a slight 1.4% gain in 24 hours. Analysts have shared a bullish Cardano price prediction, indicating that it might be on the verge of a recovery.
According to analyst Nala on X, Cardano appears to be following the same pattern that it did in 2019. At the time, ADA flipped a key resistance level before recording a strong uptrend. If this pattern repeats, this altcoin could soon explode to an all-time high price.
Summary of XRP Rivals
As XRP price struggles to defend the support level at $2, drawing criticism from some analysts, traders are now looking for the best XRP rivals to buy to make significant returns. Some of the top Ripple competitors to buy include Stellar, Solana, and Cardano, which are surrounded by strong technical setups and network activity, suggesting that they might outperform XRP.
Frequently Asked Questions (FAQs)
The top XRP rivals that traders can consider buying today include Stellar (XLM), Solana (SOL), and Cardano (ADA). These tokens have a bullish technical outlook and strong fundamentals.
XRP price can only bounce from the support level of $2 if there is a fresh increase in demand. Other catalysts, like spot ETF approvals and strategic partnerships, might also drive the uptrend.
Solana price can rally to $150 soon amid a surge in network activity. This activity may bolster demand for SOL and accelerate the rally.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
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.
Source: https://coingape.com/markets/3-xrp-rivals-to-buy-as-analyst-says-ripple-is-the-biggest-meme-coin/
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