While the crypto market remained relatively quiet during the first half of October due to the Israel-Iran conflict, things are starting to pick up. Investors are anticipating a more dynamic market in the second half of the month as market conditions improve. Among the leading contenders for potential gains in the fourth quarter are several strong rivals to XRP, offering significant opportunities for investors.
Stellar (XLM): The Hidden Player in Cross-Border Payments
Seen as an alternative to XRP in the cross-border payments sector, Stellar (XLM) is catching the attention of market analysts. Currently priced at $0.09 with a market cap of $2.67 billion, XLM has been trading in a triangle formation, which is often considered a strong accumulation phase by investors.
Analysts suggest that if XLM breaks out of this formation, a 45% price increase could be on the horizon. This scenario would first see the price pushing past the $0.13 resistance level before climbing as high as $0.24 with stronger momentum.
Whales Are Backing Toncoin (TON)
Toncoin (TON) continues to attract investor interest with its unique features and airdrop campaigns. Despite a 1.4% decline today and a gradual correction over the past three months, analysts believe that TON could bounce back after testing the $4.58 support level.
Santiment data shows that large whale wallets holding between 1-10 million TON have steadily increased their holdings since August. These wallets now collectively hold 31.2 million TON, signaling confidence among large investors in the project’s future.
Cardano (ADA): Quiet Strength Building
Another strong rival to XRP is Cardano (ADA), currently trading at $0.34. ADA also shows signs of a triangle formation, indicating a long-term accumulation period. If this pattern holds, ADA could break past the $0.39 resistance level, sparking a new recovery trend.
The 30-day Market Value to Realized Value (MVRV) ratio shows that short-position investors are currently at a loss, which could trigger panic selling. However, for long-term investors, this presents a potential buying opportunity.
Opportunities in the Ripple Case Shadow
While Ripple’s ongoing legal battle with the SEC continues to cast a shadow over XRP’s performance, competitors like Stellar, Toncoin, and Cardano are gaining traction. These projects, with strong technical indicators and backing from large investors, are well-positioned to outperform in Q4.
As always, staying updated with whale movements and utilizing a well-planned strategy will be crucial for investors looking to capitalize on these opportunities. Dey There will continue to provide up-to-date insights on these developments.
Stellar, Toncoin, Cardano, whale investors
