However, there are several cryptocurrencies that show promising potential for substantial returns as they are currently trading at comparatively low prices. Keeping this in mind, Finbold has identified the following cryptocurrencies, priced below $1, that investors can potentially consider engaging within the coming week.
XRP
A United States judge recently delivered a significant ruling in the long-standing Securities and Exchange Commission (SEC) case, providing XRP with partial regulatory clarity by determining that it is not a security. This ruling had a notable impact on XRP, leading to a surge of almost 90% in a single day, with its value reaching as high as $0.93.
Despite these substantial gains, XRP is still trading at a relatively low price, which makes it an appealing asset to acquire. There is speculation that XRP could be the next token to generate significant profits for investors, given the regulatory clarity it has achieved.
Furthermore, XRP has successfully relisted on major exchanges like Coinbase, which could serve as a positive catalyst. Presently, XRP is trading at $0.72, marking an 8% loss in the past 24 hours. However, on the weekly chart, XRP has experienced a growth of over 50%.
Cardano (ADA)
Cardano (ADA) has recently witnessed a bullish trend driven by multiple factors, including significant advancements in its network. A noteworthy development in Cardano’s journey towards establishing a fully decentralized decision-making system is the upcoming milestone of CIP-1694 development. This proposal has gained substantial recognition, leading to a gathering of representatives from various countries to discuss its specifics. The successful implementation of CIP-1694 holds great importance for Cardano’s on-chain governance.
Additionally, Cardano’s recent surge can be attributed to other factors, such as the network’s potential, particularly the integration of Algorand as a Cardano sidechain. Moreover, Cardano’s total value locked (TVL) in terms of ADA has experienced a 10% month-on-month increase, reaching 550 million ADA on July 14, as reported by DefiLlama.
Furthermore, ADA has benefited from the potential alleviation of regulatory uncertainty following the court ruling that declared XRP as not a security.
Currently, ADA is trading at $0.34, with a daily loss of approximately 4%. On the weekly chart, ADA has seen a rise of over 15%.
Stellar Lumens (XLM)
In 2023, XLM, the native cryptocurrency of the Stellar blockchain, exhibited strong performance. Similar to other digital assets, XLM has gained passively in response to developments in the Ripple legal proceedings. It is worth noting that XLM’s rally is particularly notable considering that the platform’s founder, Jed McCaleb, is also a co-founder of Ripple.
This impressive price rally can be attributed, in part, to significant collaboration agreements between Stellar and Coinbase as well as MoneyGram. Coinbase now fully supports deposits and withdrawals of the USDC stablecoin via the Stellar chain. Additionally, MoneyGram allows its users to directly deposit or withdraw cash from their crypto wallets using USDC on the Stellar network.
Furthermore, Stellar Lumens has gained recognition as a potential facilitator for the blockchain aspect of the FedNow Payment System. FedNow is a real-time payment service established by the Federal Reserve, aiming to integrate traditional banking with decentralized finance.
At present, XLM is trading at $0.13, experiencing a loss of approximately 11% in the last 24 hours. Over the past seven days, XLM has observed an increase of nearly 35%.
Stacks (STX)
Stacks (STX) seeks to connect decentralized finance (DeFi) with Bitcoin (BTC) by enabling the implementation of smart contracts on the Bitcoin network. This empowers developers with a secure and scalable platform to build decentralized applications, expanding the utility of Bitcoin beyond its role as a store of value.
The integration of Stacks into the Bitcoin network holds great potential for sustained success, given the ever-evolving nature of the DeFi industry and the growing demand for decentralized applications. Currently, STX is trading at $0.65, reflecting a decrease of more than 4% in the past 24 hours.
Decentraland (MANA)
Decentraland (MANA) has emerged as a prominent cryptocurrency dedicated to the metaverse, attracting significant attention in recent months. The network has been actively expanding its presence in the metaverse through various initiatives.
A notable development is the announcement of the upcoming Metaverse Art Week, scheduled from July 19 to 23rd, 2023. This event aims to commemorate the end of the traditional metaverse era and usher in a new era of boundless virtual artistry and creativity.
Partnering with the renowned art collective Vueltta, Metaverse Art Week promises an exciting lineup of immersive exhibitions, installations, insightful talks, guided tours, and lively parties.
In terms of price movement, MANA has experienced some fluctuations in recent days. Currently, MANA is trading at $0.42, showing a daily loss of 2%.
In summary, it is crucial to emphasize that investors should not underestimate cryptocurrencies trading at lower prices, as the trading price does not diminish the potential of these assets.
Disclaimer: Please note that this article does not constitute investment advice. Investing in speculative and carries the risk of potential capital loss.