It is important to understand a few factors when deciding what crypto will be the best performer in 2021. Here are 5 that seem more likely candidates for outperforming XRP next year.
The “best long-term crypto investments 2021” is a list of the best performing cryptos in 2021 that outperformed XRP.
Ripple got off to a shaky start in 2021. The US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple and its officials in late December 2020, alleging that they sold unregistered securities.
The SEC claimed that XRP was not a token, but rather a security. Some exchanges, including Coinbase, delisted XRP as a result of the litigation. Furthermore, the value of XRP has plummeted. While the litigation is still continuing, XRP prices have begun to rebound somewhat.
However, Ripple’s success this year has been eclipsed by the performance of other cryptocurrencies, which have reached new highs. Despite the robust bull market this year, XRP has failed to achieve its all-time high of over $3.
The following are some of the tokens that have outperformed XRP in 2021:
Solana is the first (SOL)
Solana is one of the coins that has entirely outperformed XRP this year. Because it employs a proof-of-history protocol, the Solana network is the world’s quickest blockchain. By providing minimal fees and quick transaction processing, this protocol enables the Solana network to achieve a high degree of scalability.
Because of the expanding usage of its blockchain, Solana’s annual gains are now above 10,000 percent. The blockchain’s TVL is presently above $14 billion, a significant increase from roughly $400 million in the middle of this year.
Solana is presently the 5th biggest cryptocurrency, having a market capitalization of about $67 billion. Given that Solana was ranked outside of the top ten coins in the middle of this year, this is a significant improvement.
The market capitalization of XRP is presently at $47 billion, indicating that Solana has surpassed the currency that has had a top-10 place for the most of the year.
While XRP has yet to hit its all-time high, Solana continues to pique investor attention, reaching a new high of $241 million last month. In addition, Grayscale’s digital assets investment trust recently added Solana to its portfolio.
Taking into account all of the aforementioned considerations, it is clear that XRP’s gains this year pale in comparison to SOL’s. Furthermore, Solana is likely to continue increasing, unlike XRP, which is currently under the shadow of the SEC lawsuit.
Visit our Investing in Solana guide for more information.
2) The Dogecoin cryptocurrency
Dogecoin is another cryptocurrency that has outpaced XRP this year. Dogecoin, in fact, has outperformed the majority, if not all, of the cryptocurrencies this year. Dogecoin began the year on a big upswing, which is not the case with XRP.
Furthermore, as XRP was attempting to recover from a huge drop in late December and early January, Dogecoin achieved significant gains and climbed into the top ten rankings. Dogecoin overtook XRP as the third-largest cryptocurrency in terms of market capitalization at one time.
What’s striking about Dogecoin’s victory against XRP is that the former is a meme token with no practical use. Dogecoin was founded in the early days of Bitcoin as a parody of the main currency. However, it received Elon Musk’s backing early this year, and it rocketed to the top 10 list, with an ATH of $0.75.
The underlying Ripple blockchain, on the other hand, gives XRP a compelling use case. Ripple is a payment network that makes it easier to send money across borders. Although the Ripple blockchain has been embraced by large payment networks, it has not achieved the same degree of popularity as Dogecoin.
While XRP has a bigger market capitalization than Dogecoin, the currency does not have the same degree of acceptance for daily payments. After Bitcoin and Ethereum, Dogecoin is the third most widely used cryptocurrency for real-world payments.
Visit our Investing in Dogecoin guide for more information.
Cardano is another cryptocurrency that has outpaced XRP this year. Cardano, like XRP, has dominated the top 10 crypto ranking list for a long time. Cardano, unlike XRP, has not slipped below this ranking this year and has achieved significant gains over that time.
Unlike XRP, Cardano reached its all-time high in the third quarter. This occurred after the Alonzo hard fork update, which allowed smart contracts to be added to the network. Because of the improved usefulness of the ADA token, Cardano achieved an all-time high of roughly $3.25 as a result of this update.
In terms of market capitalization, Cardano is still ahead of XRP. Cardano is the sixth most valuable cryptocurrency, with a market capitalization of more than $53 billion, whereas XRP is the seventh most valuable cryptocurrency, with a market capitalization of more than $47 billion.
Cardano was the third-largest cryptocurrency behind Bitcoin and Ethereum at one point this year, and it stayed there for a while. This has not been the case with XRP this year, therefore Cardano’s success has clearly beyond what XRP has accomplished.
Visit our Investing in Cardano guide for more information.
4) The cryptocurrency Ethereum
Despite the fact that Ethereum is not a big rival of Ripple, it has outpaced XRP substantially this year. While XRP was facing the ramifications of Ripple’s SEC lawsuit, Ethereum was gaining traction in the decentralized finance industry, and it has risen to become the most popular DeFi network.
Ethereum and XRP are two of the market’s earliest cryptocurrencies. Although both cryptocurrencies have seen significant increases this year, Ethereum will outperform XRP in 2021.
Unlike XRP, which dropped out of the top ten this year, Ethereum has maintained its position as the second-largest cryptocurrency behind Bitcoin. The network’s adoption by DeFi developers has given it a solid use case, since it currently ranks as the top store of value due to its increasing usefulness.
This year, Ethereum has gained over 670 percent, compared to XRP’s annual gains of roughly 50 percent. Furthermore, despite the fact that both tokens were introduced in the early years of the crypto industry, Ethereum has dominated the altcoin market, while XRP continues to face competition from new tokens.
Visit our Ethereum Investing Guide for more information.
5) Shiba Inu Shiba Inu Shiba Inu Shiba In (SHIB)
The Shiba Inu is the last but not least. Shiba Inu is another well-known meme token that has dominated the market. Shiba Inu’s performance this year has outperformed other cryptocurrencies, with annual gains of more than 70,000,000%.
Shiba Inu is one of the meme tokens generated as a result of Dogecoin’s inspiration. Shiba Inu, like other meme currencies, has no practical use, but its creators established the ShibaSwap DeFi platform earlier this year to enable staking.
Nonetheless, the SHIB token’s usefulness pales in comparison to that of XRP, which is a native token for a significant payments network that has formed relationships with respectable payment providers like GME Remittance.
Shiba Inu just hit a four-year high, something that hasn’t occurred with XRP in the last four years. Furthermore, SHIB’s success has led to the token’s listing on prominent exchanges like Coinbase, which delisted XRP earlier this year after the SEC lawsuit.
While it was unable to flip XRP, Shiba Inu just joined the top 10 rankings, indicating that it is a busy trade on exchanges. SHIB’s trading volumes were two times that of XRP at the time of writing, indicating strong buyer interest in the meme coin.
Visit our Investing in Shiba Inu guide for more information.
Because of the lawsuit brought by XRP against Ripple, XRP has not had a good year. While it recovered during the bull market earlier this year, it still lagged other cryptocurrencies, which have seen enormous increases this year.
While XRP’s gains this year have been modest, the token remains one of the finest to invest in for the long term due to the potential of the underlying Ripple network. The Ripple blockchain has seen widespread acceptance as a means of making cross-border payments.
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The “next big cryptocurrency” is a term that has been used in the past to describe coins that are expected to grow exponentially. In 2021, there will be many new coins that outperform XRP and have the potential to become successful and lucrative cryptocurrencies.
Frequently Asked Questions
Which crypto coin has the most potential?
A: This is a difficult question, as there are so many cryptocurrencies out there. One that I would recommend looking into is Monero. Its privacy features and its simplicity will help it grow in the future.
What is the most promising Crypto?
A: At the moment, I believe Bitcoin is most promising cryptocurrency. It has been around for a long period of time and its price has always been increasing due to demand from new users coming in every day.
What is the most promising new Cryptocurrency?
A: There are hundreds of new cryptocurrencies that have been created. If youre looking for one that has the most potential, then I would say Bitcoin is a good option.
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