Following the continued ascension of both cryptos, Ripple (XRP) and Toncoin (TON) have created a path to a $50 million market cap in 2024. Indeed, the assets have both emerged as key tokens this year for very different reasons. Therefore, they could be poised to shake up the crypto market in the coming months.
Currently, the global crypto market has a value of $2.19 trillion. That is driven by Bitcoin and Ethereum, who keep on setting the standard with their ETF approval this year. However, XRP and TON could be set to bring a new crypto to intrigue a growing investment base.
Also Read: Ripple: Bullish Indicators – Why XRP Could Break $0.93 Soon!
XRP Eye’s Massive Surge As Legal Woes Near a Conclusion
Entering the year, Ripple had immense potential. The company was set to reach a settlement in its years-long legal battle with the US Securities and Exchange Commission (SEC). Moreover, that regulatory clarity was set to be massively important for the asset’s price movement.
That settlement has arrived, but XRP has still struggled. The asset has looked to sustain $0.60 for the first time since August 7th. Moreover, the token has increased almost 2% over the last 30 days, according to CoinMarketCap. That clearly shows its inability to carry any notable momentum.
Also Read: Ripple: Can XRP Reclaim Its All-Time High of $3.40 in 2024?
But that doesn’t negate its immense potential. The SEC settlement was undoubtedly a victory. That is bound to increase investor confidence in the asset. The arrival of Ripple’s stablecoin should also boost its value to traders.
Traditional finance firms have also gotten in on the ecosystem. Wells Fargo recently started utilizing XRP to settle credit card and loan payments. That aspect should be more than enough to have Ripple (XRP) join Toincoin (TON) as two tokens that could eye a $50 million market cap this year.
Toncoin’s Meteoric Rise Takes the Crypto Market by Storm
Whereas XRP was viewed as a high-potential asset, Toncoin has kind of come out of nowhere. The Open Network has surged in popularity this year. Toncoin has surged with it, increasing by more than 390% versus this point last year.
The token is currently trading at $6.69 but should target a much higher price by the end of the year. The Telegram-integrated asset has notable positive market sentiment. Moreover, investor interest is only growing. The token recently set a landmark record with an all-time high of 946 daily active addresses according to CryptoQuant.
Also Read: Toncoin (TON) Forecasted To Reach $10, Here’s When
That activity is only driving up demand. CoinGlass data also shows that open interest is at $247 million, which is a steady figure. Although its market cap is still only at $16 million, it has the potential to surge given its expanding TON ecosystem.
Strategic developments will be key to both Ripple (XRP) and Toncoin (TON) potential to reach a $50 market cap in 2024. However, it is certainly possible. The cryptocurrencies should be able to ride investor participation to those kinds of levels. September will emerge as a key month, as it could set the tone for the goal to be reached, or missed entirely.
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