As 2024 comes to an end, crypto investors are realigning their investments targeting top cryptocurrencies to buy for significant gains by January 2025.
The urge stems from the renewed optimism around cryptocurrencies with the incoming pro-crypto Donald Trump administration.
Best cryptocurrencies to buy for 5x gains
As traders seek substantial returns amid the current downturn, three tokens — iDEGEN, Ripple’s XRP, and Ethena (ENA) — stand out as potential frontrunners for exponential gains by January 2025.
These cryptocurrencies offer a combination of innovative technology and strong market dynamics that analysts believe could propel their growth over the next month.
1. iDEGEN: The AI memecoin revolutionizing community engagement
Launched on November 26, 2024, iDEGEN is more than just a memecoin. It is an AI-powered memecoin that has captivated the crypto community with its dynamic presale model and innovative approach to community engagement.
Leveraging artificial intelligence, iDEGEN actively incorporates community feedback from platforms like X (formerly Twitter) to adapt its roadmap.
It has already over $7.7 million in its ongoing presale with more than 1.052 billion tokens sold. The presale employs a unique pricing mechanism that adjusts every five minutes, creating an environment that appeals to traders who thrive on volatility.
The presale prices increase by 5% after consecutive purchases, decrease by the same margin during inactivity and remain stable if only one purchase occurs within the interval.
The presale is scheduled to end on January 1, 2025, with an expected cryptocurrency listing at 10% higher than its final presale price. This anticipation, coupled with its AI-driven features, positions the token as one of the best cryptocurrencies to buy now.
2. Ripple’s XRP: Analysts predict a rally towards $5.73
Ripple’s XRP remains a key player in the cryptocurrency market, showing resilience and potential for explosive growth despite market fluctuations. Currently trading at $2.26, XRP has demonstrated its ability to rebound, even in the face of bearish signals such as the recent “death cross” on its hourly charts.
The token’s price action reveals strong support at $2.20, with analysts predicting a breakout that could target levels between $3.62 and $4.3. A sustained rally might even propel XRP towards $5.73.
Technical indicators hint at a bullish divergence, with the Stochastic RSI signalling upward momentum and the Awesome Oscillator suggesting a potential trend reversal.
On-chain data further supports this optimism, showing significant accumulation by whales who have bought millions of XRP during the recent dip. For example, blockchain tracker Whale Alert reported a transfer of nearly 100 million XRP worth over $222 million on December 20 with another transfer of 90 million XRP worth over $201 million on December 21, underscoring strong institutional interest.
Adding to its bullish narrative, XRP has made strides in technological innovation. In addition to the recently launched RLUSD stablecoin, the XRP Ledger’s Multi-Purpose Token (MPT) recently passed a security audit with zero critical issues, bolstering confidence in its ecosystem.
With a solid foundation, strategic adoption by institutions, and technical signals aligning, XRP presents a compelling case for substantial gains by early 2025.
3. Ethena (ENA): A Rising Star Backed by Strategic Partnerships
Ethena (ENA) has emerged as a market outperformer, demonstrating resilience and upward momentum despite significant selling pressure from notable investors like Arthur Hayes.
Hayes, who previously expressed support for Ethena Labs, sold $8.44 million worth of ENA tokens on December 21.
Arthur Hayes (@CryptoHayes) unstaked 9M $ENA and deposited 7M $ENA ($8.44M) to #Binance 45 minutes ago, despite showing support for @ethena_labs earlier today!
He previously withdrew 16.79M $ENA at ~$0.666 ($11.19M) from Binance between Nov 26 and 28, 2024 (tweet 👇).
He…
Despite the huge offload by Hayes, ENA has continued to climb, rebounding from a December 20 low of $0.85 to its current price of $1.08, marking a strong recovery.
Analysts like Chill Trader forecast an 85% surge for ENA, citing a bullish Cup-and-Handle pattern with key support at $0.94. According to Chill, if this level holds, ENA could aim for a price target of $2.15, propelled by strong market momentum and strategic developments.
$ENA Cup-And-Handle Pattern!
Neckline Support: The price is retesting the neckline (around $0.94), which is a critical support zone.
EMA 200: The red EMA 200 at $0.63 is far below, indicating strong momentum above it.
Targets:If the retest holds, the next target is around…
Ethena’s strong performance can be attributed to recent partnerships with industry giants such as Donald Trump’s World Liberty Financial (WLFI) and BlackRock have solidified its position.
Notably, there is a proposal by Ethena Labs to have sUSDe become a collateral asset for WLF’s market, while BlackRock’s collaboration focuses on risk management strategies, including the launch of the USDtb stablecoin backed by BlackRock’s BUIDL Fund.
With a market capitalization of $3.17 billion, Ethena has already established itself as the 43rd largest cryptocurrency and its innovative approach to decentralized finance (DeFi) and strong technical setup make it another attractive option for investors looking for the best cryptocurrency to buy for high returns by January 2025.
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