XRP ETF Approval Looms: Explore Three Top Rivals Like Stellar (XLM), Dogecoin (DOGE), and Cardano (ADA) Poised for 100x Gains

A significant development is unfolding in the cryptocurrency market as a spot XRP exchange-traded fund (ETF) approaches potential approval. The U.S. Securities and Exchange Commission (SEC) has acknowledged filings from major players including Bitwise, Grayscale, and 21Shares. This decision could have a substantial positive impact on the price of XRP, prompting traders to explore rival cryptocurrencies that may outperform XRP and even achieve remarkable gains of up to 100 times their current value.

This article delves into three notable XRP competitors that are well-positioned to capitalize on the anticipated bullish sentiment surrounding Ripple’s ETF approval, which is expected within the next few weeks.

### Stellar (XLM)

One cryptocurrency to watch is Stellar (XLM), which has shown impressive performance over the past year. In late 2024, XLM experienced a remarkable rally, with its price surging by more than 500% between November and December. Given its status as a formidable competitor to Ripple in the crypto payment sector, Stellar stands to benefit significantly from any positive momentum generated by an XRP ETF approval.

As of now, XLM is trading at approximately $0.32, reflecting a minor drop of 4% due to a broader market pullback. Notably, Stellar maintains its position as the 14th largest cryptocurrency by market capitalization, indicating robust demand even amidst price fluctuations. The on-balance volume (OBV) indicator suggests that interest in XLM remains strong, and should buying momentum continue, the coin could target the 161.8% Fibonacci retracement level at around $0.88.

### Dogecoin (DOGE)

Another notable competitor is Dogecoin (DOGE), a cryptocurrency that has garnered considerable attention and community support. Its regulatory standing appears more favorable than that of XRP, potentially paving the way for an earlier ETF approval. Currently priced around $0.23, Dogecoin has faced bearish pressure, leading to a 5% decline in the past day. However, its price remains within an ascending parallel channel on the weekly chart, suggesting the possibility of a bullish trend in the near future.

Market analysts, including the well-known figure Ali Charts, suggest that DOGE needs to maintain support between $0.15 and $0.18. If this support holds, predictions indicate a potential price rally towards $2.90, positioning Dogecoin as a top contender for substantial gains in the coming months.

### Cardano (ADA)

Cardano (ADA) is another cryptocurrency making waves, with its price having increased by approximately 30% over the past year. Despite a recent 4% dip, bringing its price to about $0.77, ADA is currently defending a significant multi-month support level at $0.71. The digital asset faces immediate resistance at the 38.2% Fibonacci level, currently at $0.81. Repeated rejections at this resistance highlight a decline in retail interest; however, should buyer demand recover, Cardano could break through this level, paving the way for a potential rally past $1 to the 161.8% Fibonacci level nearing $1.85.

The Cardano community is also closely watching the SEC’s response to Grayscale’s application for a spot ADA ETF. Analysts suggest that approval could trigger a substantial rally, with predictions of a possible price surge to $15 during this market cycle.

### Market Outlook

The crypto landscape is rife with opportunities, particularly for those considering investments in Stellar, Dogecoin, and Cardano. Each of these cryptocurrencies boasts strong fundamentals and potential catalysts that could ignite significant price movements in the months ahead. Their unique positions as rivals to XRP, coupled with the evolving regulatory landscape surrounding ETFs, make them attractive options for investors looking to capitalize on the next wave of crypto growth.

As the deadline for ETF approval approaches in October, market participants will be closely monitoring developments. The outcome of the SEC’s decisions could not only affect XRP’s price trajectory but also set the stage for substantial gains among its rivals.

The current climate in the cryptocurrency market presents a compelling case for investment in these alternative assets, as they may very well exceed expectations and deliver exceptional returns in the near future.