If you want to buy cryptocurrencies, it’s pretty easy. But if you don’t have a strategy and just pick the first thing that comes up in Google search results or on Reddit forums like r/Cryptocurrency, then it can be quite hard. It might even take months of research before you make an informed decision about what cryptocurrency would suit your needs best! So which ones should we put on our watchlists?
These three cryptocurrencies have been beaten down in the market, but could potentially produce a 10X return over the next few years. The cryptos are: Ripple (XRP), Litecoin (LTC), and Tron (Tron).
Ripple (XRP)
Although XRP suffered a major price drop due to the SEC lawsuit, Ripple is still one of the cryptocurrencies may have 10x potential by 2021.
Ripple XRP has been on a rollercoaster ride over the past few months, experiencing significant fluctuations in price. The latest drop occurred when rumors of an SEC lawsuit against Ripple XRP were confirmed by filing papers that claimed selling digital currency constitutes offering unregistered securities. As a result, the ripple coin’s value fell from $0.55 to just 20 cents per token at its lowest point in December 2020 before recovering slightly later last month.
Despite the price drop, XRP is one of the beaten-down cryptocurrencies with 10x potential in 2021. Ripple has real world applications for financial institutions as an alternative to SWIFT and can expand their reach into new markets worldwide due to its advanced blockchain technology.
With its ability to negotiate with large banks, execute trades instantly and control policies, XRP is an efficient choice for financial institutions. This cryptocurrency has managed a respectable return of profit since 2012 when it was founded by Ripple Labs. Unlike other coins which are mined and decentralized; the management of this coin gives it many benefits like Visa or Polipayment processors.
Tron (TRX)
TRX has shown signs of recovery after dropping drastically in price, positioning itself as one of the best beaten down cryptocurrencies with 10x potential for high returns.
The price of TRX has seen a dramatic rise at the beginning of 2021, hitting record highs. However, with the overall market fluctuation, consolidation and corrections this low-priced crypto never touched its lofty height against Bitcoin but it did hit several milestones since starting off in the industry wide bull run. Now with ongoing developments within TRON ecosystem Tron is not going to remain as beaten down cryptocurrency much longer now that all these changes are happening around them.
TRX is an excellent long-term investment option for investors because of its high growth potential in the media and entertainment industry. It was originally created to give digital content creators complete ownership over their content, which focuses on one of the ever growing sectors of this market.
Tron’s integration of Shopping.io, the E-commerce platform will boost its adoption rates by allowing users to make purchases using TRX. Furthermore, since Tron is expanding into various market sectors it has a high potential for ROI in the future which could multiply tenfold giving investors great returns on their investments or money spent now.
Litecoin (LTC)
We all know Litecoin has been having a rough month, but with several new partnerships, the token can still rise to new heights.
Litecoin was in a deep correction phase when the overall crypto market crash accelerated. LTC had consecutive drops of more than 32% from its highest level. The reasons behind this price drop included Bitcoin’s weakness, high prices, concerns about regulation and higher capital gains taxes in the United States etc., which were all factors that contributed to Litecoin’s losses during this time period.
Litecoin is a cryptocurrency that has received substantial attention lately with Venmo’s new Cash Back feature. This gives its users the opportunity to use Litecoin for transactions and earn cash back rewards, making it potentially one of the best cryptocurrencies for long-term investments.
Litecoin has quickly gained momentum after breaking through its previous all-time high of $412. 96 in May, and is now trading above the resistance point of $300 at over $350 per coin on June 6th. Although price volatility is to be expected with any cryptocurrency investment, experts suggest that Litecoin’s bullish outlook will continue throughout 2018 due to it making transactions faster and cheaper than Bitcoin (BTC).
Litecoin is a solid future investment due to its faster transaction time and growing support from PayPal. It takes only 2.5 minutes compared the 10 mins of BTC, which makes it over three times as fast! The new service that supports Litecoin by PayPal adds another reason why this coin could be a good choice for investors looking into cryptocurrency space today.
