Two Tokens That Could Reach $50 Billion Market Cap by July
Date: 2024-06-27 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Despite the current downturn in the cryptocurrency market, several digital assets show significant potential for growth in the coming months. Over the past 24 hours, the global cryptocurrency market capitalization increased by 2.9%, reaching $2.4 trillion. This has opened up new prospects for investors and raised two tokens that could possibly reach a $50 billion market cap by the end of July.
XRP
Current Market Situation
XRP has been going through a difficult period in recent months. The current price of the token is $0.4771 and it is consolidating below the $1 mark. Facing resistance at $0.4820, XRP fell below $0.4750, but the asset showed resilience, bouncing off the $0.4619 low. Thanks to recent movements, the token has broken through the resistance levels at $0.4680 and $0.4720, indicating its potential for recovery.
One of the major obstacles for XRP remains the ongoing legal battle with the US Securities and Exchange Commission (SEC). However, Ripple's increased focus on central bank digital currencies (CBDCs) could strengthen the token's position in the market.
Over the past week, $0.7 million has been invested in XRP, indicating growing confidence from investors. If the overall cryptocurrency market continues to recover and Ripple makes progress in its litigation, XRP's market capitalization, currently $26.5 billion, could rise to $50 billion.
Toncoin (TON)
Toncoin (TON) recently experienced significant price fluctuations, reaching a new high of $8.31 before stabilizing at $7.60. At the current price of $7.49, TON is showing resilience despite the recent sharp decline.
Technical Analysis and Potential
TON has formed an ascending triangle with horizontal resistance at $7.50. A breakout to a new high indicates the possibility of further growth, and in the short term the token could reach a price of $10, and then break beyond this level in subsequent rallies.
If TON can maintain its upward momentum and overcome current resistance levels, its market capitalization, which currently stands at $18.4 billion, could also reach $50 billion.
General Market Conditions
Increased trading volume and overall market recovery will play a key role in achieving these goals. Successfully overcoming resistance and further increasing liquidity will create favorable conditions for growth.
Both XRP and TON tokens show strong growth potential, making them attractive investment options for July. The dynamic recovery of XRP, supported by Ripple's strategic focus on CBDC, and the technical strength of TON create prospects for a significant increase in their market capitalization.
These tokens, with their ability to overcome current challenges and seize market opportunities, have the potential to become leaders in the cryptocurrency space in the coming months.
