The bull market can be very close because of the new momentum in the crypto market and investors are no doubt starting to set up camp with the highest options. XRP, Cardano (ADA), and Polygon (MATIC) are undoubtedly some of the best options for investors today, but which of these coins is the best for the bull market?
XRP (XRP)
One thing about XRP is that the coin may not enjoy the recent bull market like other cryptocurrencies in the space. This is due to the fact that the Securities and Exchange Commission still has an active case against Ripple.
When the lawsuit was first revealed in 2020, the price of XRP lost more than 40% of its value and has not recovered since then. It is the only digital currency of the large cap that will not reach the highest level in 2021.
However, the next bull market may prove different for the digital asset as the lawsuit is expected to end in 2023. If that happens, XRP’s performance in the market may finally eliminate the lawsuit process, although it may be for the best or for the worse.
If Ripple wins the case, XRP will definitely see a rally. But if the SEC were to win, simply shutting down performance when the lawsuit was announced, XRP would see a significant price drop.
Cardano (ADA)
Cardano (ADA) is a coin that has consistently performed well in every bull market. Each time, ADA prices reached all-time highs, rallying more than 10x in the 2021 bull market alone. This tendency to always perform well and reach all-time highs before making ADA a good choice for the next crypto bull market.
ADA consistently reaches new ATH in each bull market | Source: ADAUSD on TradingView.com
The coin is also down more than 87% from its peak price of $3.1, so if it follows the established trend, the coin could see another 10x at least in the next bull market. Add in the fact that blockchain is also a constant feature at the top of the list of networks with the most development and recovery ADA can be a no-brainer from here.
Polygon (MATIC)
Last but not least is Polygon (MATIC). This cryptocurrency is very much the basis of the bull case. It is now a natural choice for projects that want to build on Ethereum but don’t want to encounter the scalability and high cost issues of Layer 1 blockchains.
Because of this, Polygon has increased its use over time, and MATIC as the original cryptocurrency of the ecosystem has benefited from this growth. Currently, MATIC is the only major coin that sits around 50% below its all-time high.
Related reading: Polygon (MATIC) Sets Scene on Cardano Point After Flipping Dogecoin
As long as the blockchain maintains its momentum while moving with the general market trend, it will likely be the first of all major cryptocurrencies to reach an all-time high.
Conclusion
For each of these tokens, it ultimately comes down to the choice of each individual investor. Each of these tokens has previously proven to be a good choice, leading to rapid growth. However, like any investment, it also has a level of risk that can see investors lose money. In the end, it is important to do your own research (DYOR) and create a good strategy.