XRP, ADA and MATIC, which crypto is the best bet for the next bull market?
The bull market may be very close given the recent momentum in the crypto market, and investors are no doubt starting to pitch their tents with their top picks. XRP, Cardano (ADA) and Polygon (MATIC) are arguably some of the best picks for investors even now, but which of these coins are the best entering the bull market?
XRP (XRP)
One thing about XRP is that the coin was not able to enjoy the recent bull market like the rest of the cryptocurrencies in the space. This is because the Stock Exchange and Securities Commission still has an active case against Ripple.
When the lawsuit was first revealed in 2020, the price of XRP lost over 40% of its value and has not been able to recover since then. It is the only cryptocurrency among the major capital markets that failed to reach a new all-time high in 2021.
However, the next bull market may turn out differently for the digital asset as the lawsuit is expected to end sometime in 2023. If this happens, XRP’s performance in the market may finally be decoupled from the lawsuit’s proceedings, though that could either be for the better or for the worse .
If Ripple wins the case, XRP will definitely see a rally. However, if the SEC were to prevail, just going off the performance alone when the lawsuit was announced, XRP would see a significant price drop.
Cardano (ADA)
Cardano (ADA) is a coin that has consistently performed well across every bull market. Each time, the price of ADA has reached a new all-time high, rising over 10 times in the 2021 bull market alone. This tendency to always perform well and reach above its previous all-time high makes ADA a good choice for the next crypto bull market.
ADA consistently reaches new ATH in each bull market | Source: ADAUSD on TradingView.com
The coin is also down over 87% from its peak price of $3.1, so if it were to follow the established trend, the coin could see another 10x at least in the next bull market. Add in the fact that blockchain is also consistently at the top of the list of most evolving networks, and ADA’s recovery could be a piece of cake from here.
Polygon (MATIC)
Last but not least is Polygon (MATIC). This cryptocurrency has a lot going for it which is the basis of the bull case for it. It is now a natural choice for projects that want to build on Ethereum, but do not want to encounter problems with scalability and high fees on the Layer 1 blockchain.
Given this, Polygon has seen an increase in usage over time and MATIC which is the original cryptocurrency of the ecosystem has benefited from this growth. Currently, MATIC is the only major coin that is around 50% below its all-time high.
Related Read: Polygon (MATIC) Aims to Take Cardano’s Place After Flipping Dogecoin
As long as the blockchain maintains its momentum while moving with the general market trend, it will likely be the first of all the major cryptocurrencies to reach a new all-time high.
Conclusion
For each of the aforementioned tokens, it ultimately comes down to the preference of each individual investor. Each of these tokens has proven to be a good choice in the past, which has led to their rapid growth. But as with any investment, even they have a level of risk that can cause investors to lose money. Ultimately, it’s important to do your own research (DYOR) and come up with a good strategy.
