In a recent post on X (formerly Twitter), noted XRP advocate and lawyer John Deaton shared his top 10 cryptocurrency picks for the next 12 months. His selection includes a mix of well-established and emerging digital currencies.
He stated, “If you had to pick only 10 tokens to own for the next 12 months (as a trade) what are they? Here’s mine: BTC, XRP, ETH, QNT, RNDR, SOL, KAS, AVAX, HBAR, CSPR. What am I missing?”
Analysis Of The Pro-XRP Lawyer’s Picks
Bitcoin (BTC): Deaton likely selected Bitcoin due to the potential imminent approval of a spot Bitcoin ETF in the United States. Bloomberg Intelligence analysts anticipate that the US Securities and Exchange Commission (SEC) might approve multiple spot Bitcoin ETF by January 10, 2024, a move that could significantly impact Bitcoin’s value
XRP: Deaton’s choice of XRP is consistent with his role as a strong supporter and legal advocate for the XRP community. XRP’s status as a regulatory-defined token in the United States with high utility adds to its appeal. Currently, XRP is consolidating after being rejected at the 0.618 Fibonacci retracement level at $0.7492.
Ethereum (ETH): Despite the harsh criticism of Ethereum’s founder, Deaton has included ETH in his list. This might be due to its position as the second-largest cryptocurrency by market cap. Also, BlackRock and several other financial giants have recently applied for a Spot Ethereum ETF, adding to the potential bullish trajectory of ETH in the next 12 months.
Quant (QNT): The QNT token of Quant Network has found itself in a downtrend channel since late January this year, down approximately 35% from its year-to-date high. With the current price of $98.74, QNT is 78% below its all-time high of $428.38 on November 21, 2023. Nevertheless, Quant can boast partnerships with major financial institutions, including the Bank for International Settlements (BIS), Bank of England, Bank of Canada, MasterCard, Amazon, and Barclays, to develop and test use cases for central bank digital currencies (CBDCs).
Render Network (RNDR): The RDNR token is currently up 725% since the beginning of the year. Render Network provides a decentralized GPU rendering platform, allowing artists to scale GPU rendering work on-demand to high-performance GPU nodes. Notably, the RDNR price has also profited from the AI…
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