Will Ripple's token hit $1? These altcoins are alternatives Breaking past $0.60 remains a realistic goal, but $1 is unlikely. Investors are diversifying into altcoins like Ethereum, Solana, and new projects like Crypto All-Stars and Pepe Unchained for better returns
XRP has put forward one of the most underwhelming performances in the crypto market this year. With Bitcoin halving having taken place in April 2024 and the SEC lawsuit now nearing a conclusion, XRP stepped into 2024 with a promising outlook.#sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} However, as XRP enters the final months of 2024 it is worth noting that it has only managed a 15% gain on the annual chart against BTC’s 125% growth. Top altcoins such as Ethereum and Solana also made the most of the bullish cycles this year.
What does the rest of the year hold for XRP? Are the series of price slips a signal for investors to look for more resilient altcoins?
XRP price forecast: Why $1 remains a distant dream
XRP shot up to $0.9 in July 2023. After the fleeting surge, the XRP price has been stranded in a descending triangle for over a year.Although the market witnessed multiple runs before and after Bitcoin halved XRP didn’t manage to break out. On the contrary, it has been consistently forming lower highs to the dismay of holders.
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To escape the drawn-out descending triangle and signal a shift in momentum, XRP must push past the key resistance range of $0.60 to $0.65. Once the bullish reversal begins, XRP can target higher price ranges.
If the broader market is favourable, the breakout will prove to be sustainable, potentially hitting the $1 mark.
Spotlight WireXRP price performance, source: TradingViewHowever, the current picture lacks promise. Since the RSI is hovering around 40, reflecting weak momentum, XRP has to wait till the RSI moves into the bullish zone (50-70) before initiating strong movements. The first key resistance along the way is $0.57, in line with the 200-day moving average. It must be flipped to set off a buying frenzy.
Diversification as a cope-up strategy
While breaking past $0.60 is a realistic goal for XRP, $1 remains a distant dream. The top altcoin, worth a massive market cap of $30 billion, is deemed saturated.The consistently lacklustre performance of the crypto coin hints that the rest of the year won’t be any different. With the next bull market expected to gain strength in October, $0.65 to $0.7 is not a far-fetched goal for XRP. But whether XRP can sustain the growth remains to be seen.
Investors are increasingly adopting diversification as a strategy to make up for the dispiriting returns from XRP. In addition to top altcoins like Ethereum, Solana, and Tron, emerging small-cap cryptocurrencies are also making their way into crypto portfolios.
https://x.com/pepe_unchained/status/1832055677566562727
For example, the upcoming layer-2 solution Pepe Unchained just hit the $13 presale million milestone. The project combines Pepe elements with utility, targeting both speculative traders and long-term investors.
Even during the recent bear markets, meme coins made headlines for their volatile jumps. Hence, it makes sense why a utility-focused project like Pepe Unchained went for meme coin packaging.
Crypto All-Stars is another multichain, multitoken staking protocol that unifies the passive income strategy for meme coin traders.
1. Crypto All-Stars: Passive income strategy unified
MemeVault, the flagship product from Crypto-All Stars, has been trending since its announcement. A multichain and multi-token staking platform, MemeVault allows meme coin traders to earn passive income in $STARS tokens.Crypto All-Stars is one of the top four altcoins to buy now, according to popular crypto education platform 99Bitcoins (700K+ subscribers).
For anyone tired of juggling multiple staking platforms for meme coins, MemeVault is a crypto to consider now. $STARS tokens earn up to 3X staking rewards for holders. That explains why over 600 million tokens have already been locked in the staking protocol.
Spotlight WireMemeVault will launch after the token listing, but $STARS staking has begun with the annual percentage yield (APY currently above 1000%. As the presale progresses, the price of $STARS is structured to rise, while the APY declines over time.Visit the $STARS presale
2. Pepe Unchained: The new contender in the layer-2 market
Pepe Unchained ($PEPU) is next. One of the new meme coins of this season, $PEPU offers more than just speculative hype derived from its Pepe label.The project is building a layer-2 blockchain tailored for meme coins, addressing congestion issues faced by primary networks. The result is expected to be faster, cheaper transactions.
Spotlight WireAlthough the Pepe label has contributed to the hype surrounding Pepe Unchained, the project plans to nurture organic demand from its layer-2 chain. If the blockchain ecosystem unfolds as planned, it could offer a resilient ground for emerging meme coins. Having broken past the $13 million milestone already, the Pepe Unchained presale won’t be live for a long time. It is nearing a sell-out ahead of schedule, with early backers being eligible for staking rewards.
Visit the $PEPU presale
3. Memebet: A crypto gaming experience
Memebet ($MEMEBET), as the name gives it away, is a meme coin that comes with gaming experiences. The platform will feature a vast selection of play-to-earn games.$MEMEBET, the native cryptocurrency, will facilitate the rewards and payments in the game. Users can start enjoying the gaming experience before the token launch, however. Memebet is set to go live during the presale.
70% of the total token supply is allocated to early backers through the ongoing presale, underscoring a community-first approach. Memebet offers anonymity for gamers through its Telegram platform. The platform has a no-KYC policy to ensure fast entry.
Memebet also introduces Crypto Loot Boxes of NFTs, cash prizes, signed Argentina Messi jerseys, and bonuses. To celebrate the launch, Memebet has introduced a presale airdrop. For more information about the airdrop, visit the Memebet website.
Visit the $MEMEBET website
Name: Crypto All Stars
Email: [email protected]
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.
Disclaimer: The above content is non-editorial, and TIL (Times Internet Limited) hereby disclaims any and all warranties, express or implied, relating to the same. TIL does not provide investment advisory services in any manner and the publication of this content does not mean TIL's or Economic Times endorsement. TIL strongly recommends the users to take all steps necessary to ascertain that any information and content provided is correct, updated and verified and/or speak with a qualified investment professional before making any investment decisions.
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This story originally appeared on: India Times - Author:Faqs of Insurances
