2 Cryptocurrencies to Reach $50 Billion Market Cap in July
XRP (XRP)
XRP has been navigating through a challenging phase, particularly with its price consolidating below the $1 mark. Currently priced at $0.4771, XRP has faced resistance at the $0.4820 level, resulting in declines below $0.4750.
Recent Performance:
However, the asset has shown resilience, rebounding from a low of $0.4619. With recent upward moves clearing the $0.4680 and $0.4720 resistance levels, XRP is recovering and gaining traction.
Market Position:
The ongoing legal dispute with the United States Securities and Exchange Commission (SEC) remains a significant hurdle. Still, Ripple’s focus on Central Bank Digital Currencies (CBDCs) could strengthen its market position and drive future growth.
Investor Sentiment:
Additionally, XRP saw $0.7 million in investments in a week, indicating growing investor confidence. If the broader cryptocurrency market continues to recover and Ripple makes progress in its legal battle, XRP’s market cap, currently at $26.5 billion, could surge toward $50 billion.
Toncoin (TON)
Toncoin (TON) has experienced notable price fluctuations recently, reaching a new high of $8.31 before stabilizing around $7.60. Priced at $7.49, TON has shown resilience despite a sharp downturn.
Technical Indicators:
TON has formed an ascending triangle pattern with horizontal resistance at $7.50. The recent breakout to a new high suggests potential for a bullish uptrend, targeting $10 in the short term and possibly pushing beyond in subsequent rallies.
Market Cap Growth:
If TON can sustain its upward momentum and break through its current resistance levels, its market cap, now at $18.4 billion, could also reach $50 billion by July.