Top Crypto Picks for June 18 – XRP, Ondo, Tron
By Hassan Shittu
Last updated: June 19, 2024 10:24 EDT
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5 min read
Discover top contenders like XRP, Ondo Finance, and Tron that present strong potential as the best cryptocurrencies to invest in right now.
The cryptocurrency market is ever-changing, and as we kick off this week, certain digital assets are standing out despite the challenges in the broader market.
Bitcoin, for example, has had a rocky start, experiencing a more than 4% drop in the past week, falling below $70,000.
Following a strong beginning to the month, Bitcoin faced resistance at $72,000, leading to a decline that pushed it below $67,000 over the weekend. The crucial support level of $65,000 is key; a breach could result in further drops towards $64,200 and $61,000.
Failure to bounce back from these levels may lead to a decline towards the $56,500 support level. Nevertheless, Bitcoin’s overall price structure hints at an upward trajectory, with the need to surpass the $67,000 resistance in conjunction with the 50-day EMA to regain momentum and potentially move towards $68,000 and $70,000. At the time of writing, Bitcoin is trading just above $64,000.
While Bitcoin faces these challenges, other cryptocurrencies are emerging as the best options to invest in right now based on their fundamentals, upcoming events, and technical analysis. XRP, Ondo Finance (ONDO), and Tron (TRX) are among the top choices, each offering unique investment opportunities.
Top Cryptocurrencies to Invest in Now
XRP (Ripple)
XRP is poised as one of the top crypto picks for investment now. Source: TradingView
XRP, the native cryptocurrency of Ripple, has shown remarkable resilience amidst a broader market downturn. Like the general trend, XRP also experienced a 7.1% price drop, currently trading at $0.48.
Despite the current dip, technical indicators suggest that XRP has broken above its daily resistance level of $0.499 and is now testing its 50-day Exponential Moving Average (EMA) at $0.50.
If XRP maintains support around this level and successfully breaks above the EMA, it could surge to $0.532 and potentially reach $0.581.
Strategic developments further enhance XRP’s potential, including its potential integration in the BRICS payment system to reduce reliance on traditional financial systems, as well as the anticipation of XRP ETFs.
Analysts are optimistic about XRP, with projections indicating it could reach $0.75 in the short term and potentially higher in the long term, with targets as high as $18 to $20.
Ondo Finance (ONDO)
Ondo Finance is gaining traction as an attractive option for investors, especially those interested in the decentralized finance (DeFi) sector. Ondo specializes in structured products catering to both risk-averse and risk-seeking investors, offering strategies to enhance yield and provide liquidity.
Ondo Finance has demonstrated robust growth and development metrics. The demand for the ONDO token, which facilitates governance and utility within the Ondo ecosystem, has been steadily increasing.
ONDO’s Chart Site: TradingView
Currently, ONDO is trading around $1.11, reflecting a 0.20% increase in the past 24 hours. This upward trend is supported by the growing adoption of Ondo’s DeFi products, including fixed-rate and variable-rate lending options, allowing users to customize their investment strategies based on their risk tolerance.
Additionally, Ondo’s recent partnerships with leading DeFi platforms have expanded its reach, attracting more users to its ecosystem, such as the collaboration with Drift Protocol to drive Real-World Assets (RWA) adoption and integration into their product.
The total value locked (TVL) in Ondo’s smart contracts has significantly increased, currently standing at $541 million, marking a 2x increase compared to the last two months. This growth in TVL indicates growing user trust and capital inflow into Ondo’s financial products.
Tron (TRX)
Tron remains a strong player in the crypto market, with bullish trends and promising potential. Recent performance has been positive, with Tron driven by a vibrant ecosystem and significant milestones, surpassing 236 million total accounts.
The current bullish sentiment is supported by ongoing community and development activities, such as the HackaTRON event, which further boosts market confidence. To achieve further gains, Tron must surpass major price barriers, with forecasts suggesting it could reach $0.1575 by the end of Q4 2024.
The robust support from its community and continuous development make Tron a top cryptocurrency to consider for investment.
TRX, Tron’s native coin, has been steadily climbing in price, with TRX currently trading at $0.1. This reflects a 1.65% decrease in the last 24 hours, presenting an opportune moment to buy on the dip.
The ecosystem’s growth is evident from its daily active user count, surpassing 1 million, and the number of transactions processed on the network, averaging over 3 million daily. These metrics highlight Tron’s ability to handle high transaction volumes efficiently, a crucial factor in its ongoing adoption.
Diving Beyond Bitcoin: Exploring Crypto Presale Opportunities
The cryptocurrency market offers a wide range of investment opportunities beyond Bitcoin’s dominance. Experienced traders are constantly seeking promising alternatives to diversify their portfolios and maximize potential returns. One strategy gaining popularity is investing in crypto presales.
Crypto presales, also known as token pre-sales, provide a unique chance to acquire cryptocurrencies at a discounted price before they enter the broader market. Projects centered around Web3 technologies, decentralized finance (DeFi), and other cutting-edge applications often utilize presales to raise capital and fund their development.
However, identifying promising ventures in the crypto presale market requires investors to conduct thorough research and exercise sound judgment. Projects with a compelling vision, practical use cases, and proficient teams are more likely to gain market traction and deliver value to early investors.
The team at Cryptonews.com has compiled a list of promising Bitcoin alternatives in the presale market that show potential for returns and could be some of the best cryptos to invest in now.
Here’s a curated list of 15 projects currently in the presale phase that offer compelling value propositions and have the potential to deliver returns.
15 Top Crypto Presales to Consider
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Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could potentially lose all your capital.
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