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The bull market could be very close given the recent momentum in the crypto market and investors are no doubt beginning to pitch their tents with their top choices. XRP, Cardano (ADA), and Polygon (MATIC) are no doubt some of the top picks for investors even now, but which of these coins are the best going into the bull market?
One thing about XRP is that the coin was unable to enjoy the last bull market like the rest of the cryptocurrencies in the space. This is due to the fact that the Exchange and Securities Commission still has an active case against Ripple.
When the lawsuit was first revealed in 2020, the price of XRP lost over 40% of its value and has been unable to recover since then. It is the only cryptocurrency out of the large caps that was unable to hit a new all-time high in 2021.
However, the next bull market may prove different for the digital asset since the lawsuit is expected to end sometime in 2023. If this happens, XRP’s performance in the market can finally decouple from the lawsuit’s proceedings, although it could either be for the best or for the worse.
If Ripple wins the case, then XRP will definitely see a rally. But if the SEC were to prevail, just going off the performance alone when the lawsuit was announced, XRP would see a significant decline in price.
Cardano (ADA) is a coin that has consistently performed well across each bull market. Each time, the price of ADA has hit a new all-time high, rallying over 10x in the 2021 bull market alone. This tendency to always perform well and reach above its previous all-time high makes ADA a good choice for the next crypto bull market.
The coin is also down over 87% from its all-time high price of $3.1, so if it were to follow its established trend, the coin could be looking at another 10x at least in the next bull market. Add in the fact that the blockchain also consistently features at the top of the list of networks with the most developments and ADA’s recovery could be a no-brainer from here.
Last but not least is Polygon (MATIC). This cryptocurrency has a lot going for it which is the basis of the bull case for it. It is now a natural choice for projects that want to build on Ethereum but do not want to encounter the scalability and high fee issues on the Layer 1 blockchain.
Given this, Polygon has seen a rise in its usage over time, and MATIC being the native cryptocurrency of the ecosystem has benefitted from this growth. Presently, MATIC is the only large-cap coin sitting around 50% below its all-time high.
Related Reading: Polygon (MATIC) Sets Sights On Cardano’s Spot After Flipping Dogecoin
As long as the blockchain maintains its momentum while moving with the general market trend, it is likely to be the first of all the large cryptocurrencies to reach a new all-time high.
For each of the tokens mentioned, it eventually comes down to the preference of each individual investor. Each of these tokens has previously proven to be a good choice, leading to their rapid growth. However, like with any investment, even they carry a level of risk that could see investors lose money. In the end, it is important to do your own research (DYOR) and come up with a good strategy.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.