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From XRP to Cardano (ADA), here is a list of penny-priced cryptocurrencies looking to push toward the $1 price mark amid this bull market run.
As the leading cryptocurrency, Bitcoin (BTC) commands the focus of the majority of investors, shaping the trajectory of the overall market. However, with its current valuation surpassing $68,000, prospective investors may find themselves deterred by the asset’s lofty price.
Some market participants have an inclination toward lower-priced crypto assets, but this choice also comes with challenges, as uncertainties abound on which cryptocurrency has potential to grow. This is a list of some assets worth pennies but are currently eyeing the $1 mark.
XRP
Despite being one of the oldest crypto assets around, XRP has not recorded as much growth as its proponents have hoped. The asset first crossed the $1 mark in December 2017 and summarily touched its peak price of $3.31 in January 2018.
Since dropping from this high, XRP has not reclaimed the $2 price. In addition, the last time the cryptocurrency saw the $1 mark was in October 2021. Several market watchers attributed XRP’s underperformance over the years to legal pressure from the SEC’s lawsuit against Ripple.
With a judge declaring last July that XRP in itself is not a security, the asset was poised to regain its lost ground. However, XRP failed to reclaim the $1 mark, facing resistance at $0.93. XRP subsequently retraced all the gains it picked up amid the pivotal judgment.
The crypto asset now trades for $0.6030 amid a 2.69% price drop in the past 24 hours. Despite the disappointing performance, analysts still expect XRP to breach $1, especially now that it has attained legal clarity.
The Sandbox (SAND)
The Sandbox (SAND) is among the most watched assets in the market, as analysts expect it to impress in the unfolding bull run. SAND boasts a history of meteoric price surges, as it previously leveraged the 2021 bull run to clinch an all-time high of $8.48 in November 2021.
Notably, this ATH marked a 23,876% increase from SAND’s value of $0.0354 in November 2020. However, like XRP, the Sandbox recorded a massive decline as the bear market came.
Now, with the market cycle flipping positive, market watchers believe SAND is poised for a similar meteoric surge despite its value currently below $1. The asset pushed to recover the $1 price on March 10, when it clinched a high of $0.8266.
Nonetheless, this upsurge met fierce opposition, leading to a collapse. SAND has now recorded losses in six of the past seven days, currently changing hands at $0.6070 amid a 6.53% decline in the last 24 hours. The asset is now looking to leverage the next market rally for another push toward $1.
Cardano (ADA)
Cardano (ADA) ranks among the top 10 crypto assets by market capitalization due to its $23.1 billion market cap. However, ADA proponents believe the asset is extremely undervalued at its current price, anticipating an imminent price rally.
The Cardano blockchain has continued to hit major milestones and implement upgrades to meet industry standards. Despite the recurrent “ghost chain” claims, the network stands out as one of the most active in the crypto scene, especially in terms of usage and development activity.
Due to these bullish metrics, industry experts believe ADA holds immense potential for higher growth. However, the asset has yet to reclaim the $1 price since dropping below it in April 2022. ADA’s latest rally saw it push toward the mark on March 14 but met stern opposition at $0.8104.
Cardano currently trades for $0.6531, with a mild 0.31% drop this month. Despite its slow growth rate, market watchers see more room for expansion, as it is still a long way from its ATH of $3.10. Market analyst Ali Martinez sees ADA reaching $8 in the future.
Fantom (FTM)
Fantom (FTM) is the closest asset among these cryptocurrencies to the $1 mark, with its proponents showing immense optimism about a recovery of the pivotal threshold. The asset’s latest attempt to hit the level came up on March 16, when it rallied to $0.9839.
Despite witnessing resistance at this level, FTM has held well above the $0.90 level, currently trading for $0.9064. Fantom has been one of the best performers of the ongoing bull run, up 396% since September 2023.
The asset’s rally saw it hit a high of $0.5569 in December 2023 before it consolidated for three months. With the market uptrend recorded this month, FTM has leveraged the momentum to record another price upsurge, with the $1 price as its current target.
Pixels (PIXEL)
The crypto-focused gaming project Pixels launched its native token last month, and the asset has quickly garnered interest from investors. Part of its success stemmed from the token launch culminating in a Binance listing, a development that further bolstered its legitimacy.
Following the launch, PIXEL spiked to a high of $0.6947 before consolidating in the days that followed. The asset recorded another bullish day on March 9, when it rallied 42.21% to close the day at $0.8622.
Pixels eventually breached the $1 price for the first time ever on March 11, reaching a new all-time high of $1.0367 that day. Nonetheless, it immediately faced opposition, closing March 11 with a loss. Pixels has been retracing its gains since then.
The asset has now surrendered the $0.8 and $0.7 price territories to the bears, as it currently changes hands at $0.6900. Despite this bearish turn of events, PIXEL is up 40.83% this month, with investors expressing confidence in the asset’s potential to recover $1 soon.