- The price of Ripple (XRP) is above $0.57, while Cardano (ADA) trades around $0.55.
- Both altcoins could target the $1 level in 2024 if the market maintains a stronger bullish outlook.
- Meme Moguls is a new project in presale, currently priced at $0.0027, with interest pushing funds raised to more than $1.4 million.
Cardano (ADA) and XRP are two of the top 10 cryptocurrencies by market capitalization that could move higher if the current bullish expectations persist. The crypto market has also shown interest in Meme Moguls (MGLS), a new presale token that has attracted over $1.4 million in funding.
Which altcoin will reach the psychological $1 milestone first — ADA or XRP? And could MGLS outperform after launch?
XRP price forecast: Can bulls push past $1 in 2024?
Ripple achieved a major legal win against the U.S. Securities and Exchange Commission (SEC) in 2023, with a ruling that clarified portions of XRP’s status and helped revive investor confidence. That ruling sent XRP higher, and the token climbed sharply, though gains faded after testing roughly $0.94 in July.
Another rally attempt stalled above $0.74 in November. Nevertheless, XRP remains well above the low of $0.30 reached in January 2023.
Although CoinGecko data show XRP fell about 8% over the past 30 days, the token still posts roughly 66% gains for the year.
Ripple’s established position in global payments is another tailwind for XRP. The prospect of a final resolution to outstanding legal battles with the SEC, combined with clearer regulatory guidance and broader market catalysts — including momentum from spot Bitcoin ETFs — could lift crypto markets generally and XRP in particular.
A break above $0.74 would put the $1 level in view and could open the door to a $1.50 target. XRP’s historical peak was reached in 2018 when it traded at significantly higher nominal levels, though markets and supply dynamics have changed since then.
Cardano (ADA) price forecast: $0.70 is the key hurdle
Cardano is trading above $0.55 as buyers attempt to recover from this week’s crypto sell-off amid renewed speculation around Bitcoin ETFs.
For Cardano bulls, staying above $0.55 is necessary to keep upward momentum alive. If that level holds and ADA can clear $0.70, the $1 mark could come into play. Crypto analyst Captain Faibik has pointed to a bullish pennant formation that suggests a potential 30–40% upside for ADA.
$ADA Bullish Pennant formation..!!
Looks Promising for the Another +30-40% Bullish Rally..📈#Crypto #Cardano #ADA
— Captain Faibik (@CryptoFaibik) January 2, 2024
However, ADA has struggled to regain sustained upward momentum since dropping below $0.70 in May 2022, so any breakout attempt will depend significantly on broader market sentiment.
Bitcoin’s turnaround from a low near $41,450 to above $44,000 at the time of writing could provide a lift for altcoins if the move persists.
Meme Moguls (MGLS): A potential 100x token?
Meme Moguls aims to bring staking and earning opportunities to the rapidly growing meme token ecosystem.
With meme-inspired tokens such as Dogecoin, Shiba Inu and Pepe reaching fresh highs recently, the market may be receptive to a platform that captures meme token momentum. Meme Moguls, powered by the governance token MGLS, positions itself as a platform where users can unlock rewards and showcase trading skills.
Users who rise to benefactor or “magnate” status on the platform will earn MGLS and additional perks such as NFTs.
Meme Moguls price outlook
While XRP and Cardano are preparing for potential moves toward the $1 psychological level, Meme Moguls is a new token that could see substantial gains in the coming months.
Currently in its fourth presale stage, MGLS has risen from $0.0019 to $0.0027. The token could experience a significant post-presale run in the second half of 2024 if the project launches successfully amid a bullish market.
As the meme coin sector expands, Meme Moguls’ innovative approach could allow the project to capture market share in a space that some estimates expect to grow substantially by 2025.
Interest in the Meme Moguls presale is strong: the campaign raised more than $1.4 million within weeks of launch.