The crypto market has become a popular and lucrative investment tool over time. A significant part of their appeal stems from the extraordinary ability of these assets to rise within relatively short periods of time. Therefore, this fact should not be ignored. A person who invested just $1 in Bitcoin in 2010 would have approximately $500 million today. Even though the price of Bitcoin is very high now, there are many altcoins whose price is still measured in pennies and has the potential to skyrocket in 2024. Crypto analyst Andreja Stojanovic shares 3 tokens with this potential.
The first altcoin to target $1: Ripple (XRP)
XRP has held a prominent place in the minds of many crypto investors and enthusiasts for many years. Because it is a major altcoin affiliated with Ripple Labs, one of the leading companies in the industry. By that fact alone he is well positioned to be among the best. On the other hand, it remains at the center of a long-running legal battle between the SEC and Ripple Labs. So, in many ways, it is linked to the future of the entire industry. This battle could make or break the case that even cryptocurrencies and tokens that were never included in an initial coin offering (ICO) could be considered unregistered securities.
cryptokoin.comAs you follow from , XRP has been struggling with uncertainty since 2020. However, it benefits greatly from strong fundamentals and access to Ripple’s cutting-edge technology. He also has multiple significant court victories in 2023. So, it has made several significant gains in the minds of investors recently. Looking at the numbers, the altcoin has performed well over the last 52 weeks. During this period, it is green 32.19% of the time. However, it has been struggling since the beginning of 2024 and is down 15.87%. It lost approximately 4% of its value in the last 24 hours. At the time of writing, it was trading at $0.53.
Despite the recent setbacks, between its strong foundation, the chance of an eventual victory against the SEC, and upcoming events such as Bitcoin’s halving, XRP is well positioned to be one of the altcoin projects that can rise above $1 in 2024.
Second on the list is Cardano (ADA)
Cardano (ADA) has always stood out for its unique approach to development. The team behind the cryptocurrency has a track record of focusing on stability and scalability. It has also undergone significant upgrades over the years. It also suffers from the slowdown that has gripped the crypto market since the beginning of 2023. As of January 1st, it fell 20.86% to $0.49 at the time of writing. However, many experts predict it will increase significantly over the next 12 months.
For example, popular crypto analyst Ali Martinez recently pointed out that ADA’s current behavior is reminiscent of its behavior in late 2020. Martinez predicts that the altcoin price will not only reach $1 but also go up to $7.
Last altcoin with $1 potential: Polygon (MATIC)
Polygon (MATIC) is in an extremely strange spot in early 2024. Because it is undergoing a major upgrade that aims to effectively replace it with another cryptocurrency, Polygon (POL). Despite this, it remains a promising investment. As a cryptocurrency built on the Ethereum (ETH) Blockchain, it constantly focuses on improving it, especially when it comes to transaction speed and fees. Additionally, MATIC has recently partnered with both Starbucks and Fox News. Thus, it increased its popularity among investors and companies. Still, it has been on the decline since the beginning of the year. MATIC was changing hands at $0.76 at the time of writing.
On the other hand, upgraded cryptocurrency Polygon (POL) has been generally bullish since its launch in November 2023. The altcoin price increased by 18.39% in this time frame. The token was changing hands at $0.76 at the time of writing.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. We strongly recommend that you do your own research before investing.
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