5 Cryptocurrencies to Turn $10 Into $1,000
Based on several factors, ranging from blockchain value and community to general backers, the five cryptocurrencies outlined below have what it takes to turn a $10 investment into $1,000 in 2024.
The crypto ecosystem has continued to welcome numerous protocols with their underlying assets. While some are promising, most new tokens are merely cash grabs designed by crypto scammers.
For investors looking to get a headstart in their research on promising tokens, these five tokens are worth considering.
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Solana (SOL)
Solana has a robust ecosystem that is notably in the spotlight at the moment. The blockchain protocol has a lot of good things happening simultaneously in its ecosystem that primes it for immense growth this year.
From the emergence of Solana Mobile to DePIN and DeFi, Solana has taken the fight for dominance to Ethereum’s doorsteps.
Solana also has a very positive price action that enables it to recover easily from bearish trends. At the moment, it is priced at $92.62, up 1.64% in the past 24 hours.
Polygon (MATIC)
Polygon is a major delight for enterprise firms looking to make a pivot into the Web3 space. As an Ethereum-based scaling protocol, Polygon has recorded immense achievements in the past year, ranging from its partnership with Starbucks to the CDK toolkit it designed to help create other blockchain networks.
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Polygon also has the tendency to increase investors’ capital this year based on numerous advances up its developer’s sleeves.
The digital currency is changing hands for $0.777, up 3.97% in 24 hours. Despite being down 73.61% from its All-Time High (ATH) of $2.92, the chances of further growth are high.
Cardano (ADA)
Cardano, as a blockchain network, is arguably the most developer-driven protocol as judged by its GitHub activities. Primed for scalability and low cost, Cardano is making its mark in Web3 as one of the fastest-evolving chains to pitch tents with.
Its positive innovation rate has polished the potential of ADA, its native token, which is worth $0.4849. The asset is up 0.11% in 24 hours at the time of writing. One of the most important updates on Cardano is the Hydra, a scaling solution it pitched as a game-changer.
Avalanche (AVAX)
Avalanche is one of the top coins with the most intriguing recovery rates over the past year. Described as the fastest protocol in terms of Time to Finality, Avalanche has soared by more than 81.17% Year-on-Year (YoY) to $32.60 after dropping as low as $8.91 on October 19, 2023.
Avalanche’s big sell as a candidate on this list lies in its growing embrace by major financial firms like JPMorgan Chase & Co.
XRP
XRP is considered one of the biggest but undervalued digital currencies in the crypto scene. Currently trading for $0.5294, the token is up 2.02% in the past 24 hours, per data from CoinMarketCap.
XRP is the only crypto recognized by law as a non-security after the historic ruling from Judge Analisa Torres. The July 2023 ruling set a precedent that is poised to unleash the coin this year and in the coming ones.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Author
Godfrey Benjamin
Godfrey Benjamin
https://thecryptobasic.com/
Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web3.0. His love for crypto was birthed when as a former banker, he discovered the obvious advantaged of decentralized money over traditional payments. With his vast experience covering different aspects of Web3, Godfrey's articles has been featured on Blockchain News, Cryptonews Com, and Coingape amongst others. When not writing contents related to crypto, you can find him playing video games.
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Upcoming Mega XRP Surge, Analysts Reveal How Most Investors Would Miss Out
Two prominent analysts have shared similar XRP price charts detailing a possible capitulation event right before an imminent XRP price surge that could replicate the 2017 uptrend.
In a recent report, crypto market watcher JD disclosed that XRP could be on the verge of a meteoric surge. The analyst noted that XRP currently trades within a six-year symmetrical triangle. XRP formed the upper descending trendline of the triangle when it dropped from the $3.3 all-time high.
Historical Context
Data from JD’s chart confirms that XRP traded in a similar symmetrical triangle from late 2013 to early 2017 before its massive rally in 2017. Notably, XRP entered this symmetrical triangle following a collapse from a previous all-time high of $0.0614 in December 2013.
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freestar
XRP Symmetrical Triangle JD
XRP Symmetrical Triangle | JD
The token continued to record lower highs from December 2013 to early 2017 due to the resistance mounted by the symmetrical triangle’s upper descending trendline. XRP recorded its breakout from the triangle in March 2017.
However, the XRP chart shows a massive wick down in January 2017. According to JD, this wick was due to some XRP investors selling off their holdings amid XRP’s underperformance at the time. Recall that XRP initially lagged Bitcoin (BTC) and the broader crypto market in the 2017 bull run.
Nonetheless, the token eventually recorded a massive surge shortly after this capitulation event. The surge came on the back of the breakout from the previous symmetrical triangle, with XRP soaring 66,100% from a low of $0.005 in February 2017 to $3.31 in January 2018.
XRP Looks to Repeat 2017 Upsurge
JD believes this pattern is about to repeat in the current cycle. Notably, XRP looks poised to break above the latest symmetrical triangle. However, JD says there is the possibility of another massive wick down similar to the one in January 2017.
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According to the analyst, this would result in a similar capitulation event, as several investors have continued to lament XRP’s underperformance in the current pre-bull run phase. Interestingly, BTC is 62% up since September 2023, while XRP is only 2.6% up within the same timeframe. This reality has triggered investor angst.
The MACD indicator compounds JD’s confidence in another meteoric rise for XRP. In 2017, the breakout from the symmetrical triangle occurred alongside a cross above 0 for the monthly MACD. He expects this MACD cross to fuel the uptrend further.
In an exciting turn of events, The Crypto Sniper, another prominent analyst, claimed JD copied this exact analysis from him. The Crypto Sniper shared a chart he made on this commentary.
XRP 1W Chart The Crypto Sniper
XRP 1W Chart | The Crypto Sniper
However, The Crypto Sniper asserted that using MACD was inaccurate. While it is uncertain, who copied who, the fact that both analysts have the same setup further solidifies the narrative that XRP could be on the verge of an explosive rally.
Meanwhile, XRP currently changes hands at $0.5247, down 1.28% over the last 24 hours. The crypto asset has collapsed 15% this year amid the market downturn, while BTC is only down by a meager 0.68% within the same timeframe.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Author
Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.
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