March Crypto Mavericks: Bitcoin, Ethereum, and XRP Ride the Wave of Investor Optimism

In March 2024, amid a resurgence in investor interest, three cryptocurrencies stand out for potential investment: Bitcoin (BTC), Ethereum (ETH), and XRP. Bitcoin reached a new all-time high of $73,580 before retracting to around $65,000, reflecting a 130% increase over the past year. The rally was propelled by factors including SEC approval of spot price exchange-traded funds (ETFs) for Bitcoin, anticipation of the upcoming "halving" event reducing mining rewards, and broader market optimism. Ethereum surged 90% to approximately $3,500 over the past year, driven by expectations of spot price ETF approvals, network upgrades, and increased usage of decentralised applications. However, regulatory scrutiny from the SEC regarding its classification as a security has hindered its progress. XRP, the cryptocurrency associated with Ripple, experienced a 40% rally but remains well below its all-time high of $3.84 from January 2018. Despite facing regulatory challenges and competition from other blockchain networks, XRP's price could see significant upside if Ripple successfully resolves its legal disputes with the SEC and enhances its network capabilities.