The first half of October saw minimal action in the crypto market as geopolitical tensions, particularly the Israel-Iran conflict, kept most major cryptocurrencies in a sideways pattern. However, as the market begins to recover, investors are eyeing the second half of the month for more dynamic opportunities. With the fourth quarter underway, certain altcoins may present significant profit potential, particularly those seen as strong rivals to XRP.
Stellar (XLM): The Underdog in Cross-Border Payments
Often viewed as an alternative to XRP in the cross-border payment space, Stellar (XLM) is currently trading at $0.09, with a market cap of $2.67 billion. XLM has been moving sideways for some time and is trading within a triangle formation, often seen as a period of accumulation by investors.
Analysts predict that if XLM breaks out of this formation, it could surge by up to 45%, first breaking the $0.13 resistance before possibly hitting $0.24 with stronger momentum.
Toncoin (TON) Gains Confidence from Whales
Toncoin (TON) continues to draw interest from investors, thanks to its unique features and airdrop campaigns. Despite a 1.4% dip today, TON has been gradually correcting along a downward trendline for the past three months. Despite this pressure, analysts believe TON could retest its $4.58 support level and regain upward momentum.
According to Santiment data, large Toncoin holders—those holding 1 to 10 million TON—have been consistently increasing their positions since August. These wallets now collectively hold 31.2 million TON, signaling that big investors remain confident in the project.
Cardano (ADA) Quietly Gaining Strength
Another strong rival to XRP is Cardano (ADA), currently trading at $0.34. Like Stellar, Cardano is also showing signs of accumulation, with a triangle formation indicating potential long-term growth. If ADA maintains this pattern, the price could break past the $0.39 resistance, signaling a recovery.
Additionally, Cardano’s 30-day Market Value to Realized Value (MVRV) ratio shows that short-term investors are in the red, indicating a potential buying opportunity for long-term holders as the market continues its correction.
Meanwhile, Ripple’s ongoing legal battle with the SEC continues to weigh on XRP‘s market performance. This situation could give a competitive edge to Stellar, Toncoin, and Cardano, which are gaining attention due to their strong technical indicators and the confidence of large investors.
As we move deeper into the fourth quarter, these altcoins could outperform XRP under the right market conditions. For investors, closely watching both technical analysis and the movements of large stakeholders will be crucial to crafting the right strategy.
