Despite the favorable end in the SEC vs. Ripple lawsuit, investors are waiting for the US SEC’s next step. If the regulator files an appeal, it could trigger a short-term panic selling response from XRP holders. During such conditions, these five XRP rivals, aka XRP competitors with potential to fulfill investors’ need to grow their portfolio by 10x.
5 XRP Rivals With 10x Potential by December 2024
Listed below are five XRP competitors that could 10x by December 2024.
- Stellar (XLM)
- Sui (SUI)
- Toncoin (TON)
- Cardano (ADA)
- Dogecoin (DOGE)
Stellar (XLM)
Chris Larsen, the co-founder of Ripple and Stellar, recently pledged his support to Kamala Harris in a signed letter on September 6. Since then, XLM has shot up by 12% and trades at $0.0957. If the US presidential elections end with Harris’ victory, it could catalyze a massive buying spree from investors that could propel XLM price, this XRP rival up, hinting at a huge growth potential.
Sui (SUI)
Of late, this token has been touted as the Solana killer and has a huge potential for rallying due to the narrative. Ideally, top altcoins tend to shoot up due to the popular narratives among investors.
In addition to the Solana-killer title, SUI could also be considered an XRP competitor due to the fast transaction speeds and low fees—the only hindrance to this project is on-ramping, which many consider to be a drawback. However, in dire times, narratives drive prices higher despite lacking fundamentals.
The year-to-date performance of SUI price is 30%, but in March, this value stood at 183%. This example illustrates the capacity or potential that this Ripple rival holds in helping investors book 10x gains.
Toncoin (TON)
Telegram-based Toncoin is a token that has climbed the popularity charts. One of the main reasons for TON’s recent success is the arrest of Pavel Durov, Telegram founder in France. In addition to being touted as a Solana-killer due to its low fees, functionalities, and ability to onboard retails via Telegram, a popular messaging application, makes it one of the best competitors to XRP.
The integration into Telegram has attracted $729 million USDT to the platform, according to data from CryptoQuant. Furthermore, with the availability of Decentralized Exchanges, a massive spike in peer-to-peer transactions, and Durov’s privacy focussed notion, TON is primed for a massive rally.
Since the September 6 swing low, Toncoin price has bounced 27% and currently trades at $5.65. However, if the US SEC files an appeal, it could send TON soaring.
Cardano (ADA)
Cardano was one of the first Ethereum-killers, but of late, ADA has faced slack from the community due to lack of upgrades. Regardless, the delays in project-based updates have never held price back. Between October 2023 and March 2024, Cardano price shot up 283%, showing that this token has performed better during bull runs than most of its peers. As a result, Cardano is one of the best XRP rivals on which investors need to keep a close eye.
ADA price is currently on track to completing a popular bottom reversal pattern known as W or double bottom. If successful, this technical formation could send Cardano to $0.446.
Dogecoin (DOGE)
The last XRP rival is Dogecoin, the original and top meme coin. DOGE has played a pivotal role in shaping crypto markets and its participants. Over the past few weeks, this dog-based cryptocurrency has been sliding lower in a tight range. A breakout from this falling wedge formation could result in a 40% move to the upside. Such an uptrend would put DOGE at $0.148.
Nonetheless, this original humor-based crypto token has weathered the test of time and is likely the best Ripple rival that could help investors 10x their portfolio by December 2024.
Conclusion
The above-mentioned are the five best XRP rivals in no particular order. However, if one were to rank them based on their potential to yield massive gains, it would be DOGE, followed by ADA, TON, SUI, and XLM.
Frequently Asked Questions (FAQs)
The five XRP rivals mentioned are Stellar (XLM), Sui (SUI), Toncoin (TON), Cardano (ADA), and Dogecoin (DOGE).
If the SEC files an appeal, it could trigger a short-term panic selling response from XRP holders.
SUI has a year-to-date performance of 30%, but in March, this value stood at 183%.
Akash Girimath
Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn
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/top-5-xrp-rivals-with-10x-potential-by-december-2024/
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