While cryptocurrencies didn’t deliver what was expected in 2022, analysts shared 5 altcoin projects that could reach new heights next year.
XRP and ADA: Not yet reflected in the price!
The first altcoin on Crypto Basic analysts list is Ripple (XRP). As recently pointed out by attorney John Deaton, XRP has been in the top 10 cryptocurrencies by market cap for almost a decade. XRP managed to survive despite the SEC lawsuit. 2023 has the potential to be an unforgettable year for XRP. Some important recent developments, particularly in the XRP ledger and Ripple community, will continue to impact XRP price and the ecosystem. The NFT feature will continue to attract investors. An EVM-compatible sidechain is being tested. Tests for a protocol-based AMM in the ecosystem have started. rippleThe demand for the liquidity service from is increasing. All of these developments had little impact on the XRP price in the bear market. However, XRP could gain a lot of momentum in the upcoming bull run. Additionally, unlike other altcoins, XRP may not need a big rally. Because James K. Filan predicts that the judge in the almost 2-year-old case between Ripple and the US Securities and Exchange Commission will make his decision by the end of March 2023.
The litigation has severely impacted the launch of XRP in the US, as some US exchanges see delisting XRP as the best option to avoid problems with regulators. Currently, XRP is trading at $0.3536, 89.6% below the all-time high of $3.40 set in January 2018. Therefore, a new wave of adoption and a legal victory could take XRP to new heights. The second alto on the list is Cardano (ADA). Like XRP, ADA is among the top 10 cryptocurrencies by market cap. Cardano, like XRP, has come under selling pressure due to the current macroeconomic conditions. Updates in Cardano have not yet been reflected in the price. As CEO Hoskinson noted in September, Cardano will see fresh success in the bull cycle. MBLM, one of the leading platforms in the US, named Cardano the best crypto project by brand quality. Enhanced smart contract and scaling capabilities were added in September thanks to the Vasil hard fork. More than 1000 decentralized applications are being developed on Cardano. ADA is currently trading at $0.26716 and 91.4% below the all-time high of $3.09 set in September 2021.
XTZ, DOGE and SHIB: There are many reasons!
3. Altcoin on the list Shiba Inu (SHIB). The Shiba Inu was originally thought to be an imitation of DOGE. But then, with the strong support of the community, it took the cryptocurrency world by storm in 2021, posting 45,000,000% gains over the year. However, developers have now announced dozens of projects to ditch the meme coin image. Shiba Inu’s Metaverse project is getting a lot of attention. The Shiba Eternity card collecting game has received wide acclaim around the world. The Shibarium layer 2 blockchain solution will impact the price. SHIB is currently trading at $0.00000822 and 90.5% below its all-time high of $0.00008616 set in October 2021. The 4th altcoin on the list is Tezos (XTZ). The Tezos project is unique for several reasons. For one, the network can go through fork upgrades and has never experienced any attacks in its 4-year history.
With the cryptocurrency market in bad shape, the project has invested in brand sponsorship deals to attract new crypto investors. In addition, it is seeing increasing acceptance. XTZ is down 90.62% from its all-time high of $9.12 and is currently trading at $0.864043. The last altcoin on the list dogcoin (DOGE). Dogecoin is one of the most popular cryptocurrencies in the world. DOGE was the first choice of many newcomers to the market. Last year, DOGE shocked the world and increased it to $0.73 with only Elon Musk’s tweets. With Twitter CEO Elon Musk in particular, many Dogecoin holders are anticipating some form of integration with the platform. DOGE is down 89.4% from its all-time high of $0.731578 and is currently trading at $0.077280.
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