TL;DR
Several cryptocurrency analysts and experts have recently argued that 2024 could be a bullish year for the cryptocurrency market based on favorable factors such as the upcoming Bitcoin halving and a potential approval of a spot BTC ETF in the United States. As such, some might be wondering which digital assets are worth investing in during the next 12 months.
John E. Deaton – an American lawyer who represents thousands of Ripple investors in the lawsuit against the US Securities and Exchange Commission (SEC) – presented his top 10 list. He believes that investors should primarily focus on Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH).
His remaining suggestions include Quant (QNT), Render Network (RNDR), Solana (SOL), Kaspa (KAS), Avalanche (AVAX), Hedera (HBAR), and Casper (CSPR).
Some people who commented below his post opined that Cardano (ADA) and the Solana memecoin BONK should also be added to one’s portfolio.
Ripple’s native coin might indeed be on the verge of a substantial price increase should certain factors be in play next year. One bullish element could be the possible decisive victory the blockchain enterprise might secure in the legal battle against the US SEC.
The two entities are scheduled to meet each other on a grand trial in April, as the outcome could resonate into the entire cryptocurrency space. Recall that XRP surpassed the $0.80 mark in July this year after the American magistrates determined that Ripple’s programmatic sales from years ago did not constitute an offer of investment contracts.
Other regulatory developments, such as the potential approval of a spot BTC ETF in the US, might also contribute to XRP’s price rally in 2024.
Those willing to observe how the asset could perform in the short term could take a look at our dedicated video below: