XRP made it to the list of top 10 digital assets that Forbes recommended for cryptocurrency investors this month.
Leading media outlet Forbes released its list of the top 10 cryptocurrencies suitable for investment in March 2024. Interestingly, XRP made this month’s list of the top 10 crypto assets worthy of investment.
Although XRP is ranked sixth on the list, this does not imply that the coin should be the sixth asset investors need to consider when investing in cryptos this month.
It is worth mentioning that the top 10 cryptos were ranked based on their market capitalization as of March 12, with Bitcoin and Ethereum securing the first two positions, respectively. Other top crypto assets like BNB Coin, Solana, and Shiba Inu were also on the list.
Reason Behind XRP Selection
Specifically, Forbes advisors mentioned that XRP had a market cap of $38.5 billion, with each unit of the coin priced at $0.7. They also shared a brief history of XRP, including stating that some of Ripple’s execs created the coin.
Furthermore, Forbes emphasized that XRP can be used as a bridge currency on the Ripple network to facilitate the exchange of different fiats.
Growing Interest in XRP Amid Court Victory
The development suggests a growing interest in XRP among retail and institutional investors. XRP gained the crypto community’s attention after the SEC charged Ripple with offering the token as an unregistered security in 2020.
Interest in the coin skyrocketed in July 2023 after New York Federal Judge Analisa Torres declared that XRP in itself is not an investment contract.
Following the verdict, many expected XRP to embark on a rally and possibly surpass its previous all-time high (ATH) price of $3.40, recorded in 2018. However, despite the positive court verdict, it failed to hit $1.
Analysts Issue Favorable Predictions for XRP
Despite XRP’s underperformance, several analysts are optimistic that the sixth-largest cryptocurrency would still embark on a rally that could send shockwaves into the market.
As reported earlier, top analyst Mikybull recently revealed that XRP broke out of a symmetrical triangle, where it has been trading since April 2021. Following the breakout, the analyst projected the XRP price to soar to $6.
Similarly, another popular analyst, EGRAG, made an audacious prediction for XRP, projecting that the coin could hit $17 by May before soaring to $27 six months later. In the meantime, XRP has risen 0.28% in the past 24 hours to $0.69. The coin is also up 13.5% in the weekly charts.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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