Despite recent setbacks in the cryptocurrency market, some altcoin projects show significant growth potential in the coming months. According to crypto analyst Aneena Alex, some cryptocurrencies offer promising investment opportunities. The analyst identified two altcoins that are likely to reach $50 billion market cap by the end of July.
First ranked altcoin: Ripple (XRP)
XRP is going through a tough phase, especially with its price consolidating below the $1 mark. Currently priced at $0.4771, XRP encountered resistance at $0.4820. This led to declines below $0.4750. However, the token has shown resilience by recovering from a low of $0.4619. With the recent upward moves clearing the $0.4680 and $0.4720 resistance levels, XRP is recovering and gaining traction.
cryptokoin.comAs you follow from , the ongoing legal dispute with the US SEC remains a significant hurdle. However, Ripple’s focus on Central Bank Digital Currencies (CBDCs) could strengthen its position in the market and support future growth. In addition, XRP received $0.7 million in investment within a week. This shows that investor confidence has increased. If the broader cryptocurrency market continues to recover and Ripple makes progress in its legal fight, XRP’s market cap, currently at $26.5 billion, could rise towards $50 billion.
Toncoin (TON) comes in second place
Toncoin (TON), on the other hand, has experienced significant price fluctuations recently. The altcoin reached a new high of $8.31 before stabilizing around $7.60. Priced at $7.49, TON showed resilience despite a sharp decline. TON formed an ascending triangle pattern with horizontal resistance at $7.50. The recent breakout to a new high suggests potential for an uptrend targeting $10 in the short term and possibly extending beyond in subsequent rallies.
If TON can maintain its upward momentum and break through current resistance levels, its market cap, currently at $18.4 billion, could reach $50 billion by July. Overall market conditions, including increased trading volume and broader market recovery, will play a crucial role in achieving this milestone.
XRP and TON are on track for $50 billion market cap
Both XRP and TON show strong growth potential, making them attractive investment options for July. XRP’s recovery efforts, combined with Ripple’s strategic focus on CBDCs and TON’s technical resilience, show that these cryptocurrencies are on track to reach significant market cap milestones. For traders and investors looking for promising assets, XRP and TON are worth considering as they move towards a $50 billion market cap.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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