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Turning $1,000 into $35,000 with 3,500% Cryptocurrency to Buy a Breakout
Investing in the crypto markets has been one of the most rewarding ventures of the last 50 years. The first investors in Bitcoin, DogecoinAnd Shiba Inu has made exponential gains, attracting even more outsiders to the blockchain space. However, being a young industry, crypto is riddled with high volatility and malicious actors. This is why it can be difficult to spot a 3,500% crypto to buy an early breakout. This article will feature five crypto projects that could turn $1,000 into $35,000 during the next bull run.
1. Crypto to buy – XRP
XRP, one of the top ten cryptocurrencies, aims to become the world’s reserve currency despite legal battles. Despite ongoing legal battles, XRP remains one of the most promising cryptos at 3,500% in the near future. Chris Larsen and Brad Garlington, the co-founders of Ripple Labshave worked hard to get banks around the world to use RippleNet.
After the 2020-2021 bull run, XRP lost over 86% of its value, along with the entire crypto market. However, in June 2022, the asset began its slow climb from $0.28.
The price of XRP today is $0.52, representing a decrease of 1.6% over the past 24 hours and an increase of 2.5% over the past 7 days.
XRP Price The action has been closely tied to the 50-day and 200-day simple moving averages (SMA), indicating an existing struggle between the bulls and bears.
Meanwhile, the asset sits almost at the end of a bullish symmetrical triangle. This is confirmed by the higher lows posted by XRP for 1,492 days.
The asset’s current Relative Strength Index (RSI) stands at 50.62 after increasing by 80.49% over the past 42 days. As a result, the price of XRP increased by 25% over the same duration.
The upcoming XRP-based stablecoin is expected to spice up the DeFi season on the L1 blockchain, making these prices the best buying opportunities.
2. Terra Luna Classic (LUNC)
LUNC Price Chart | Trading View
Terra Luna Classic is a layer 1 blockchain, taken over by the community after the founder abandoned it. Blockchain has seen major changes thanks to the existing decentralized governance structure, one of which is planned for June 2, 2024.
Genuine Labs, a development team involved in the Terra Luna Classic blockchain, submitted a v.3.0.1 upgrade proposal which was passed with 100% “yes”. These changes will improve network performance and operations.
LUNC Price today is $0.0001126, representing a 0.6% decrease over the past 24 hours and a 6.6% increase over the past 7 days. LUNC breakouts have been explosive in the past, recording gains of over 2X and sometimes even 4X. In a bull market scenario, the gains could be much greater.
There are a few key resistance points on the way up, but with the strength of the uptrend, these should not pose a problem. The market sentiment around LUNC is that the project is oversold with great upside potential. In the crypto space, community is everything, and none is stronger than the LUNC community.
3. Algorande (ALGO)
Algorand is one of the leading layer 1 blockchains that has successfully solved the blockchain trilemma. The development team primarily focuses on more construction and less marketing, making the project’s fundamentals stronger than most cryptocurrencies. Algorand Price reached a high of $2.82 during the previous bull cycle and fell to a low of $0.082. The price action of ALGO formed a nice rounded bottom in 2023, signaling a trend reversal.
The general resistance points for ALGO are the $0.50 level and the $2.00 level. The previous high price may offer some resistance, but not much. After that, the asset will be in price discovery mode. Algorithm developers continue to expand their projects by building a strong technology stack. Algorand is one of the ISO20022 coins compliant with a new messaging technology model that will be adopted by banks in the coming months.
4. Ondo Finance (ONDO)
Ondo financing is one of the most promising Real World Asset (RWA) crypto projects in the field. The news that Blackrock was going to use the platform for the tokenization of its assets immediately catapulted the project into the spotlight. ONDO’s price surged last week after a whale purchased $5.7 million worth of tokens, also doubling the number of holders.
Since the launch of ONDO, the price has increased exponentially. In just 5 months, ONDO has gained 533% in value. The asset reached a record price of $1.33 on May 26, 2024, signaling the strength of its fundamentals and positive market sentiment.
THE ONDO Price today is $1.21, representing a 6.7% decrease over the past 24 hours and a 29.4% increase over the past 7 days. The asset is in discovery mode and the RWA industry is still in its infancy. This is one of the best times to grab such an asset and turn $1,000 into $35,000.
5. Cardano (ADA)
Cardano benefits from the leadership of Charles Hoskinson, co-founder of Ethereum, providing a solid foundation for the development of the project. Cardano’s focus on creating a secure and scalable blockchain has attracted interest from various sectors, including governments, institutions and enterprises, leading to growing adoption and use cases. This, coupled with upcoming developments, positions it as a cryptocurrency with significant potential to reach new highs in the future and a likely 3,500% investment in the cryptocurrency.
ADA Price is currently below the 50-day and 200-day SMAs with bulls trying to break above them. The asset has undergone a small consolidation over the past couple of months. The support is strong and the bulls can use it to break the overhead resistance at $0.5038.
The ADA RSI(14) is at level 45 and is in an uptrend. The indicator still has some room to run before reaching the overbought zone, providing investors with the opportunity to buy ahead of the rally.
On the upside, ADA investors can expect to hit key resistance levels at $0.67 and $0.81 before surging towards all-time high prices.
Conclusion
Volatility in the crypto market can be both your friend and your enemy if not properly exploited. To get a 3,500% crypto ROI you need to have invested early and to achieve this, thorough research is essential. These five coins can give you a head start if you want to turn $1,000 into $35,000.
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