Cardano’s (ADA) trades around $0.35 amid movements that could send the price down the charts. ADA then struggles to gain the momentum needed to reverse its downtrend. With the ADA token still trading below $1, on the upside, Cardano seems to present a decent investment opportunity for diversified investors, but there are better options like Ripple (XRP) and FXGuys ($FXG) in 2024.
A development has foreshadowed the creation of a spot XRP ETF (exchange-traded fund) as early as 2025, which could have a huge positive effect on XRP’s price trajectory. FXGuys is a top ICO in the decentralized finance (DeFi) market with a unique approach to forex trading and is well-positioned to yield notable returns for investors. This article covers why XRP and $FXG deliver better investment prospects for 2024 amid contemplations surrounding Cardano.
Cardano (ADA) Recovery Signals Remain Weak
Cardano’s DeFi coin price dropped to $0.30 at the start of October after reaching $0.40 days earlier. Currently, ADA has managed to stay above that point, with bulls defending the $0.35 support. Cardano’s Exponential Moving Average (EMA), however, indicates that it remains vulnerable to bearish trends.
Cardano has declined 13% in the past 7 days, reaching a 40% drop in the past 6 months. Notably, many believe it is not undervalued, considering its 45 billion ADA token supply. The answer to if one should buy Cardano while it is still below $1 lies in your risk tolerance and how long you plan to hold, as buying ADA is buying at an 88% ‘discount’ from its ATH (all-time high).
Potential Breakout For Ripple (XRP) On The Horizon
Bitcoin (BTC) and Ethereum (ETH) are the only cryptocurrencies with spot ETFs; that is why the recent move by Grayscale is notable. Last month, the investment firm announced the launch of the new Grayscale XRP Trust. A trust is not the same as an ETF, but Grayscale has used a similar approach to launch spot ETFs for Bitcoin and Ethereum. Hence, the Grayscale XRP Trust could be the prelude to an eventual ETF launch for Ripple.
So, it’s not entirely out of the question that the launch of a spot ETF for XRP could be recorded sometime in 2025. The news of the launch of the XRP trust saw the price of XRP hiked by nearly 10%. XRP is still trading for about $0.55, but there is growing buzz that the price of Ripple could hit $10 if a new ETF product comes to market, making XRP an investment prospect to delve into now.
Analysts Project 100x Gain For FXGuys ($FXG)
The excitement around FXGuys is growing as it smashed its private presale sale round by raising over $1 million from the sale of 68 million tokens. This accomplishment hints at the crypto community’s confidence in the project, as they recognize the project’s long-term prospects for 2024. Analysts predict a 100x gain for early backers as the project’s momentum continues on a bullish trajectory.
The official public presale is now in its first stage, and those interested can purchase $FXG tokens at a DeFi coin price of $0.03 apiece. In just a few weeks, investors have scooped up about 53% of the tokens allocated for this round, as FXGuys has sold over 75 million tokens so far. This top ICO combines the best elements of cryptocurrency, forex trading, PropFi (Proprietary Finance), and TradFi (Traditional Finance), making it a promising investment not to miss out on.
FXGuys incorporates forex trading to bridge the barriers historically preventing retail investors from accessing a big, liquid market. Users on the platform can earn $FXG tokens for each trade they execute, regardless of whether it is profitable. By guaranteeing continuous activity on the network, this method generates demand for the token and builds a vibrant, active user base.
Conclusion
Despite trading about 88% below its ATH and the $1 mark, buying Cardano now could depend on your long-term plan. Meanwhile, Ripple and FXGuys have better investment prospects for 2024. FXGuys is tipped for a 100x rally after its launch, and to make the most of the anticipated bull run, invest in its top ICO.
To find out more about FXGuys follow the links below:
Website | Whitepaper | Socials | Audit
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