Analysts speculate that there is a good chance the Securities and Exchange Commission will approve one or more spot Bitcoin (BTC) Exchange Traded Funds (ETFs) early in 2024 and this may lead to another bull run in the cryptocurrency market. BTC will also go into its next halving cycle in April 2024 which could add more joy to the crypto scene, potentially causing tokens to skyrocket in price. The top 3 cryptocurrencies valued under $1 which may explode next year include Ripple’s XRP, Cardano (ADA) and Shiba Inu (SHIB).
XRP has seen considerable growth in 2023 and its price rally could be due to a ruling from a US district court which indicated that selling XRP to retail clients did not breach specified securities laws, although the lawsuit is being considered by the US Supreme Court. Therefore, there is still an outcome to come but in a favourable scenario XRP could reach a new all-time high (ATH). Unlike some other coins, it did not hit an ATH in 2021.
Cardano (ADA), which is another popular transported token, has had fluctuating prices throughout this year, however more momentum was observed from mid-October. When compared to the ATH of $3.09 back in September 2021, ADA is still understand by more than 80% but if the market turns bullish again ADA may be able to siege its ATH. Lastly, Shi Ba Inu (SHIB) is one of the most powerful cryptocurrencies but has been unable to preform this year, not even with the launch of layer-2 in January. As its fans and investors step it firm opposition, if the 2020-like bull run returns in 2024, SHIB may be on the brink of true success.
