A popular question on X right now is which crypto will hit $1 next? Let’s take a deeper dive on three options: XRP, ADA and DOGE to see which, if any can achieve this.
Which crypto will hit $1 next? $XRP, $ADA or $DOGE?
Please reply with any others!
— InvestingHaven (@InvestingHaven) December 27, 2023
XRP
Ripple Lab’s digital token XRP is a frequent topic of ours.
We’ve projected a nice gain for XRP in 2024, but will it be the first crypto currently below $1 to break it?
Recent sentiment toward XRP has shifted positive after the US SEC dropped its claims against two Ripple Lab’s executives.
However, XRP holders are still patiently waiting more significant price action as a result of the ‘sort of’ good news.
🚨 #Xrp holders 🚨#Xrp is PRIMED FOR BLASTOFF 💥💥
Once #Xrp breaks this DESCENDING WEDGE pattern, the price will go INTERGALACTIC 🚀 pic.twitter.com/Xru1mY4SMu
— HighVibe 💥🔥💥 (@HighVibeAssets) December 27, 2023
Some traders have identified a recent descending wedge pattern — potentially indicating a rise in price soon.
There’s also been a recent crypto analyst, who projected a staggering gain to $352 for XRP.
We are far less bullish than him — but have to give our vote of confidence to see $1 for XRP in the mid-to-near future.
Per our charting — it’s not so much ‘if’ but ‘when’ XRP will hit $1.
Cardano (ADA)
Cardano (ADA), unlike XRP in that its seen significant gains (nearly 70%) over the past month, is another strong contender.
With such a recent hot streak — we wouldn’t be surprised to see Cardano pull back a bit before testing the $0.75 range.
$ADA is ready for a massive breakout! pic.twitter.com/63gmI8cdSy
— Crypto Rover (@rovercrc) December 27, 2023
Traders are also noticing a similar chart set up to XRP, each looking bullish in the short term.
Please note however, that we provide more detailed analysis in our premium crypto newsletter, available to subscribers only.
Still, if we had to pick between XRP or Cardano as the next crypto to hit $1, we like the technicals and fundamentals behind XRP more in the short term.
DOGE coin
One of the crypto darlings from the 2021 retail investor inflow, DOGE mustn’t be forgotten.
It’s not our favorite token by any means, but it’s still worth tracking.
DOGE would have to make up significant ground to overtake XRP or ADA in the race to $1.
But with DOGE, it’s all about the community and building hype and less about the technicals.
Perhaps that’s part of the beauty of crypto. DeFi has so many purposes — but feeling connected in a digital age is an underrated piece of that.
DOGE, partially made famous by Elon Musk, is up 43% over the past six months and is teetering on the edge of a breakout.
DOGE by RashidHamada on TradingView.com
Some traders on TradingView are even charting similar current set ups to its monster run in 2021.
However, much of these ideas are based on ‘sentiment’ and less on technical and fundamental analysis.
That’s not a knock on DOGE, it’s just shedding light on the reality that the dog-themed token would need significant inflows to climb past XRP or ADA.
And recently, its former top cheerleader, Musk, noted that he ‘doesn’t spend a lot of time’ thinking about cryptocurrencies in an interview with Cathie Wood.
For what it’s worth, we find Musk’s crypto claims somewhat hard to believe given that Tesla holds nearly 9,720 BTC (as of Q3 ’23).
And besides, ask Elon Musk’s AI-bot ‘Grok’, and you might get a different answer like this X user did.
#GROK Says the the Doge-1 mission is set to launch next month 🚀 $DOGE pic.twitter.com/bZVElggknO
— Crypto | Anthony 🚀🚀 (@HiCryptoAnthony) December 27, 2023
Summary
We’d like to note that this is a casual post meant to engage readers to deliver our overall crypto sentiments for tokens trading below $1.
Based on technicals, sentiment, and fundamentals between XRP and ADA — we’d have to choose XRP as the next crypto to hit $1.
Of course, this is not financial advice and we advise you to DYOR (do your own research) prior to making any investments.
Or, let us do the work for you with our premium crypto research newsletter.
Until then, happy trading/investing!
