7 Top XRP Rivals Aiming for 5X Growth in Q3

As a seasoned crypto enthusiast and investor with over a decade of experience in this dynamic market, I find myself constantly intrigued by the ever-evolving landscape of digital assets. The insights presented here are my personal observations based on extensive research and analysis.


As a crypto investor, I’ve noticed a growing momentum among competitors of XRP lately, even after the conclusion of the prolonged Ripple vs. US Securities and Exchange Commission (SEC) case didn’t spark the anticipated surge in value. On August 7th, Judge Analisa Torres decided that Ripple Labs would pay $125 Million out of the $2 Billion fine initially sought by the U.S SEC, a decision some consider as a win for the blockchain payments company, but it didn’t seem to have a significant impact on its price movement.

As the value of XRP remains relatively stable near $0.55, prospective investors might want to explore these alternative options with significant growth prospects in the upcoming third quarter.

1. XRP Rivals – Stellar (XLM)

Among its competitors, Stellar (XLM) stands out as a blockchain initiative that prioritizes financial inclusion. It facilitates swift, affordable cross-border transactions, making it especially appealing for the underbanked communities around the world.

For the past two years, the price of XLM has been moving horizontally, confined by two lines that are gradually converging, forming a symmetrical triangle pattern. Lately, there’s been a shift from this pattern’s lower trendline, propelling the asset from $0.075 to $0.096, translating into a 26% increase in value.

Based on Coingecko’s data, the Stellar coin currently has a market capitalization of approximately $2.8 billion, and its 24-hour trading volume is around $46.5 million. If buying pressure continues, there’s potential for the altcoin to surge by over 40%, aiming to surpass the resistance trendline at roughly $0.137.

If Stellar’s price exhibits a strong surge (bullish breakout) beyond the confines of its triangle pattern, it could indicate a significant shift in the overall trend direction.

7 Top XRP Rivals Aiming for 5X Growth in Q3

XLM/USD 1d Chart

2. Solana (SOL)

Solana, represented by SOL, is a robust blockchain system engineered for building decentralized applications (dApps) and various crypto projects. As per Coinmarketcap’s latest statistics, Solana ranks as the fifth most significant cryptocurrency, with an impressive market capitalization of approximately $64.6 billion.

Over the last twelve months, this altcoin has experienced a significant rise of 540%, reaching a value of $139. This altcoin now stands out as a top-performing investment option. Yet, it’s essential to consider that this upward trend might be an early sign of recovery following the FTX crash, as major financial institutions have expressed interest in Solana-related products within traditional markets.

1. Over the past day, the price of SOL has dipped approximately 2.4%, possibly approaching the flag pattern support at $100. Data from The Block indicates that the creation of new addresses dropped by about 30% to around 956,300 in August. This decrease suggests a reduction in network activity and user interaction.

In simpler terms, it seems that the Solana price is indicating a temporary dip before potentially breaking out of its flag pattern and increasing further.

7 Top XRP Rivals Aiming for 5X Growth in Q3

3. Toncoin (TON)

The TON blockchain, associated with the Telegram messaging platform, is created for swift, affordable transactions and caters to numerous decentralized applications. Toncoin holds its ground among XRP competitors thanks to its swiftly increasing price, supported by Network Total Volume Locked (TVL) and popular Tap-to-earn games.

Data from Coingecko shows that Toncoin holds a market cap of $16.1 Billion, securing its position as the eighth-largest cryptocurrency. Moreover, Intotheblock analystics shows the number of addresses with Balance skyrocketed to 40.54 Million, registering a YTD growth of 1025%.

7 Top XRP Rivals Aiming for 5X Growth in Q3

Currently, Toncoin’s price has dropped by 1.65%, now trading at $6.44. If it manages to break through the upper resistance line, this could mark the end of the correction period and encourage buyers to push beyond the previous all-time high of $8.2.

7 Top XRP Rivals Aiming for 5X Growth in Q3

4. SUI

The SUI blockchain serves as a foundation for a secure, robust, and scalable development environment. Its native cryptocurrency, also called SUI, has garnered interest from investors due to a significant surge in value. After starting at $0.46, it climbed to $1.17—representing an impressive 141% increase amidst August’s otherwise lackluster market trends.

The swift expansion in this context could be linked to the recent debut of Grayscale’s SUI Trust Fund and the surge past a four-month price slump pattern. At present, the SUI token is being traded at approximately $0.817 and boasts a market value of around 2.1 Billion dollars.

The current pullback in SUI price could retest the breach channel resistance at $7.5 before the next leap. The post-correction rally could drive the altcoin to an initial target of $1.44, followed by ATH at $2.18.

7 Top XRP Rivals Aiming for 5X Growth in Q3

5. Binance Coin  (BNB

The Binance Coin serves as the native currency for the biggest centralized cryptocurrency platform by trading volume. In addition to facilitating trades on this platform, the BNB token also supports the entire Binance network, encompassing the Binance Smart Chain, NFT marketplace, DeFi solutions, and other related services.

Over the last year, the value of BNB has surged by an impressive 129%, reaching a record high of $724 in June 2024. Remarkably, even after its founder, Changpeng Zhao, was arrested, the BNB token and the Binance ecosystem continued to thrive. With CZ expected to be released from custody this September, coupled with potential interest rate reductions in the US, predictions suggest that the price of the BNB coin could experience a significant upward trend.

1. Today, the price of BNB is at $530 and has increased by 5.36% so far, marking a promising start to the week on its weekly chart. On the daily chart, the trend for BNB suggests a double-bottom reversal within a megaphone pattern. This pattern, serving as an indicator of potential continuation, boosts the likelihood of a prolonged bullish trend in the near future.

7 Top XRP Rivals Aiming for 5X Growth in Q3

6. Avalanche (AVAX)

In the competition to dethrone Ethereum, Avalanche is closely following Solana, boasting a market capitalization of $8 billion and an expanding network of users. With the ongoing expansion of the cryptocurrency market due to worldwide adoption, it’s expected that Avalanche will uncover fresh markets and specialties in the process.

The AVAX token among the top contenders of XRP rivals shows a 78% rise in the last year and forms a 52-week high at $65.38. Trading at a discount of 86% from its all-time high at $147.50, AVAX exchanges hands at $20.46. 

Additionally, Avalanche is confronted by a significant increase in supply due to a token release of approximately 9.54 million units scheduled for August 20. This could potentially lead to an influx of tokens, which might cause the market price to drop as a result of dilution.

The daily chart shows a bearish wedge in the AVAX price trend, accounting for a 66% drop in 150 days. Currently, the bull cycle struggles to gain momentum as it takes a lateral exit. A breakout of either of the converging trendlines will decide the upcoming trend in Avalanche price prediction. 

7 Top XRP Rivals Aiming for 5X Growth in Q3

7. Polkadot (DOT)

In simple terms, Polkadot – often referred to as the crypto world’s version of the internet – facilitates the transfer of data across various blockchains. With a history spanning four years, Polkadot is known for its speed and scalability at the foundational layer (layer-1). As more blockchain projects emerge and valuable assets build up on top of these blockchains, the convenience factor will drive popularity towards Polkadot and similar projects.

As an analyst, I’ve noticed a significant downturn in the value of DOT tokens over the past year, with bearish forces causing a 7% decline. However, it’s important to note that this dip represents a 68% decrease from its 52-week high of $11.89 reached in March 2024, leaving the current trading price at $4.330.

7 Top XRP Rivals Aiming for 5X Growth in Q3

As I observe the market trends, it appears that the descending trendline for DOT is currently in play, indicating a downward trajectory for its price. Notably, there have been several instances where upward movements were rejected, suggesting resistance at current levels.

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2024-08-17 17:40