The bull market could be very close given the recent dynamics 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 undoubtedly some of the best choices for investors, but which of these coins are best for entering the bull market?
One thing about XRP is that the coin was unable to take advantage of the last bull market like the rest of the cryptocurrencies in the space. This is because the Exchange and Securities Commission still has an active case against Ripple.
When the lawsuit first came to light in 2020, the price of XRP lost over 40% of its value and has been unable to recover since then. It is the only large-cap cryptocurrency that was unable to reach a new all-time high in 2021.
However, the next bull market could turn out to be different for the digital asset as the lawsuit is expected to end sometime in 2023. If that happens, XRP’s performance in the market may finally break free from the trial proceedings, even if it could be for better or for worse.
If Ripple wins the case, then XRP will definitely see a rally. But if the SEC were to prevail, by simply stopping the performance alone when the lawsuit was announced, XRP would see a significant drop in price.
Cardano (ADA) is a coin that has always performed well in every bull market. Each time, the price of ADA has reached a new all-time high, rallying more than 10 times in the 2021 bull market alone. This trend of consistently performing well and surpassing 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 all-time high of $3.1, so if it were to follow its established trend, the coin could be at least another 10x in the next bull market. Add to that the fact that blockchain is also consistently at the top of the list of networks with the most development, and ADA recovery might be a no-brainer from here.
Last but not least is Polygon (MATIC). This cryptocurrency has a lot going for it, which is the basis of its bullish pitch. It is now a natural fit for projects that want to build on Ethereum but don’t want to experience the scalability and high fee issues on the Layer 1 blockchain.
Given this, Polygon has seen its usage increase over time, and MATIC being the native cryptocurrency of the ecosystem has benefited from this growth. Currently, MATIC is the only large-cap coin around 50% below its all-time high.
Related reading: Polygon (MATIC) targets 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 major cryptocurrencies to reach a new all-time high.
For each of the tokens mentioned, it ultimately depends on the preference of each individual investor. Each of these tokens has already proven to be a good choice, which has led to their rapid growth. However, as with any investment, even they come with a level of risk that could see investors lose money. Ultimately, it’s important to do your own research (DYOR) and come up with a good strategy.