By The crypto market was highly eventful in October as Bitcoin price surged to a record high of $126,300 and then crashed to a low of $103,500.
Other tokens surged to a multi-month high, then plunged on October 11, and then rebounded by double digits. This article explores some of the top crypto to buy for huge gains in November this year.
XRP price to jump ahead of ETF approvals
Ripple (XRP) is one of the best crypto tokens to buy in November this year even as it remains in a bear market.
The main catalyst for the token is that the Securities and Exchange Commission (SEC) has started approving altcoin ETFs despite the ongoing government shutdown in the US. It approved numerous ETFs this month, including Solana, Hedera, and Litecoin.
XRP has the most filings in the crypto industry, including by blue-chip companies like Franklin Templeton, Bitwise, Invesco, and Canary Capital.
There is a high likelihood that the Securities and Exchange Commission will approve all of these filings in November, a move that will lead to more demand from investors.
Not all altcoin ETFs will attract inflows as we have seen with Litecoin. However, XRP will likely have substantial inflows as we have seen with existing funds like XRPR and XXRP that have accumulated over $115 million and $300 million in assets in the past few months.
XRP has other potential catalysts that may push its price high in November. For one, Ripple USD (RLUSD) stablecoin will likely cross the $1 billion assets mark, while Ripple Labs may close its GTreasury buyout.
Read more: Top crypto price predictions: Shiba Inu, Zcash, Pi Network
BNB has strong fundamentals
The other top crypto to buy is Binance Coin (BNB), which is one of the top coins in the crypto industry with a market capitalization of over $150 billion.
Binance Coin price has some of the best fundamentals in the crypto industry. For example, the number of transactions in the network has jumped in the past few months, leading to higher fees, which it uses to incinerate its token.
Nansen data shows that it made over $70 million in the last 30 days, a figure that will continue growing. At the same time, the network will continue burning tokens worth over $1 billion each quarter. Its goal is to reduce the number of tokens to 100 million.
Therefore, the BNB price will likely continue rising in November as traders anticipate a Binance Coin ETF approval.
Solana (SOL)
Solana price has also crashed in the past few days. It has plunged by over 27% from its highest point in September this year.
SOL price has struggled despite the recent approval of its ETFs that are doing well. Data compiled by SoSoValue shows that the Bitwise and Grayscale Solana ETFs have accumulated over $154 million in inflows in the last three days.
This growth will likely accelerate once more SOL ETFs are approved in November. Solana is also seeing traction in the DEX and stablecoin industry, while its staking inflow and yield are rising.
Read more: Top reasons why Shiba Inu price has crashed this year
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