XRP price has pulled back in the past few days, and is at risk of further downside after forming a head and shoulders pattern on the daily chart. Ripple was trading at $2.3515 on Saturday, down by over 30% from its highest level this year. This article looks at some of the best XRP rivals under $1 that may soon surge ane help you convert $100 to $1,000.
XRP price prediction
The daily chart shows that the XRP price peaked at $3.4292 in November last year, and has now crashed to $2.3580. It has retreated below the 50-week Weighted Moving Average (WMA), a sign that bears are in control for now.
The most important risk is that the price of Ripple has formed a head and shoulders pattern. Its head is at $3.4292, while the right and left shoulders are around the resistance at $3. XRP’s neckline is at $2.
Therefore, a crash below the neckline at $2 will signal that there are more sellers left in the market and lead to a strong sell-off. It will be a signal that it has moved into the markdown phase of the Wyckoff Theory.
That drop will likely lead to further downside, with the next point to watch being at $1, which is about $1, which is about 57% below the current level. This outlook will become invalid if the XRP price surges above the shoulders section at $3.
Best XRP rivals under $1 to buy
The best XRP rivals under $1 to consider are the likes of Ethena (ENA), Shiba Inu (SHIB), and Sonic (S).
Ethena (ENA)
Ethena is one of the best XRP rival under $1 to buy and hold this year. It is trading at $0.4440, down by about 67% from its highest level in 2024, making it a bargain at the current level.
To some extent, Ethena is a fairly risky asset to buy because of its similarity with Terra, which imploded in 2022. It offers an algorithmic stablecoin Ethena USDe that gives users a substantial yield. This stablecoin has now accumulated a market cap of $5.4 billion.
Ethena price will likely bounce back now that it has formed a falling wedge pattern, pointing to a 200% surge to the highest point in January.
Shiba Inu (SHIB)
Shiba Inu is another popular XRP rival to buy. It is the second-biggest meme coin in crypto and has numerous catalysts. The burn rate is increasing, which is reducing the number of SHIB coins in circulation.
Shiba Inu, as shown above, has numerous bullish catalysts. It has formed a falling wedge chart pattern, which often leads to a strong bullish breakout.
Also, the coin has formed a bullish divergence pattern, which forms when oscillators like the Relative Strength Index (RSI) is rising as the price falls. The Average Directional Index (ADX) has fallen, meaning that the downward trend is fading. Therefore, there is a likelihood that the SHIB price will bounce back soon.
Sonic (S)
Sonic is another good quality XRP rival under $1 to buy and hold. It is a newly launched token that rebranded from Fantom. Sonic’s transition has been received well by developers as the total value locked (TVL) in the ecosystem has jumped to over $700 million.
Some of the biggest players in the network are Silo Finance, Beets, Avalon Labs, Aave, and Shadow Exchange. Sonic’s stablecoin market cap has continued rising in the past few months and currently stands at over $200 million.
Therefore, the S token price will likely keep rising as demand from investors and traders remain elevated.
Other Ripple rivals under $1 to buy
The other top XRP rivals under $1 to buy and hold are Pepe, VeChain, Cronos, Algorand, and Kaspa. These tokens have strong fundamentals and technicals and have a chance of generating strong returns in the longer term.
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