$XRP, $DOGE, and $LINK: Top 3 Altcoins to Buy in a Downturn?
Crypto analyst Ben Armstrong recommends XRP, Chainlink, and Dogecoin as the top three altcoins to accumulate during a market downturn, citing their strong potential and future prospects.
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Posted 8/27/2023, 1:24:45 PM
cryptoglobe.com
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Despite the recent market downturn, there are five cryptocurrencies - Hedera (HBAR), XDC Network (XDC), Shiba Inu (SHIB), Astar (ASTR), and XRP (XRP) - that are showing strong potential and can be purchased for less than $1 each, making them attractive options for traders and investors.
XRP, Litecoin (LTC), and Stellar (XLM) show signs of potential recovery despite the cryptocurrency market decline, according to data from Santiment.
Cryptocurrency influencer "Bitboy Crypto" has recommended XRP, Dogecoin, Binance Coin, and Cardano as altcoins that have the potential to make investors millionaires in the next five years.
South Korean Generation Z investors are showing a strong preference for altcoins, particularly XRP, over established cryptocurrencies like Bitcoin and Ethereum, with approximately 20.7% of GenZ investors choosing XRP as their primary altcoin for investment.
XRP is approaching its third bullish golden cross in history, which could lead to significant price surges, according to popular analyst Egrag Crypto.
Prominent cryptocurrency figure Ben Armstrong shares a video update highlighting the importance of XRP, emphasizing its nature, functionality, transaction efficiency, community engagement, diverse use cases, and the clarity of its regulatory status in the US.
During the summer crash of 2023, the top 3 cryptocurrencies with big potential are Ripple XRP, Cardano ADA, and Shiba Inu SHIB.
XRP is more popular than Bitcoin and Ethereum among younger investors in South Korea, particularly those in their 20s, according to a report by the South Korean exchange Bithumb, with XRP accounting for 20.7% of their portfolio compared to 17.5% for Bitcoin and Ethereum combined.
XRP20, the yield-bearing 'XRP on Ethereum' coin, is benefiting from rumors of a potential listing on Robinhood, following its successful trading debut on Uniswap, with 23 billion tokens staked and locked liquidity of 71% for one month, making it an ideal buy setup for potential gains.
XRP's price is showing a small increase, but it remains bearish on both the hourly and daily charts, with a potential decline to the $0.51 and $0.50 range in the near future. The altcoin is currently consolidating within the $0.50-$0.54 range.
XRP's trade volume has surged on top crypto exchanges, despite its recent decline in price, while other altcoins are struggling to reach their yearly high trade volumes.
Crypto trader Altcoin Sherpa suggests that the memecoin Pepe is a better investment than Dogecoin due to its promising price action and lower market cap. He predicts that Dogecoin could experience a significant drop of up to 21% from its current level.
Summary: Bitcoin and several altcoins, including XRP, Litecoin, and Shiba Inu, are experiencing a decline in prices, leading to concern among investors, while AI-based tokens like InQubeta and Borroe offer potential investment opportunities in the crypto market.
Altcoins in the top 100 are struggling to recover, but three undervalued cryptocurrencies (AUCTION, LINA, and SRM) offer traders a buying opportunity, according to on-chain analysts at Santiment.
The cryptocurrency market has experienced a recent decline in prices, particularly for Bitcoin, Ethereum, and Dogecoin, leading to concerns among traders and investors. Despite this, there is optimism surrounding the performance of the top 5 altcoins (DOGE, SHIB, SFP, OCEAN, FET) in the coming weeks, with AI-driven projects generating hype and potential gains.
Altcoin Sherpa, a prominent analyst, warns against hasty investments in Dogecoin (DOGE) and Shiba Inu (SHIB) due to their potential downtrends and uncertainties in the current crypto landscape.
Summary: A crypto expert on the YouTube channel "Crypto Archie" recommends five low-cap altcoins to buy and accumulate during the current bull run, including Kaspa, Quick Intel, SaucerSwap, CheckDOT, and HELLO.
Investors are turning their attention to altcoins like $ROE from Borroe, which harnesses AI and blockchain technology, offers a range of features, and has a deflationary token with potential for capital appreciation. Meanwhile, Ripple's $XRP and Filecoin's $FIL are gaining momentum, and Ethereum's price volatility may be mitigated by the potential approval of Ether futures ETFs by the US SEC.
Ripple (XRP) may experience a price increase of 14,200% to 71,400% in the next 4 to 7 months, according to a prediction by Wells Fargo's Treasury Management officer Shannon Thorp, while Dogecoin (DOGE) has seen a decline in value but still has potential, and Pomerdoge (POMD), a meme coin with more utility, aims to surpass Dogecoin's position.
XRP is experiencing a significant increase in on-chain volume and development activity, while Bitcoin's recent dip is attributed to fear, doubt, and uncertainty surrounding the potential rejection of spot market BTC exchange-traded fund applications, according to Santiment.
Crypto enthusiasts are praising Borroe ($ROE) as the best cryptocurrency to buy in 2023 due to its growth potential and real-world utility, while optimistic predictions are being made for the price movements of XRP ($XRP) and Dogecoin ($DOGE).
Crypto whales have taken advantage of the recent downturn in altcoin markets to buy discounted Polygon (MATIC), Litecoin (LTC), and Apecoin (APE) tokens, potentially increasing confidence in the long-term viability of these projects.
XRP and Solana, despite experiencing significant losses over the past 30 days, are showing potential for a comeback due to important catalysts such as court rulings and partnership agreements with major institutions. Both cryptocurrencies have strong underlying value and growth prospects, making them bullish investments.
Ripple CEO Brad Garlinghouse believes that XRP could become the next Bitcoin if it successfully addresses a multi-trillion-dollar problem and leverages its competitive edge in the regulated traditional finance sector.
InQubeta ($QUBE), Domini.art ($DOMI), and Chainlink ($LINK) are recommended as the top three altcoins to watch in 2023 due to their innovative approaches, versatility, and potential for profitability.
The trading volume of XRP, a cryptocurrency, has surged since the start of 2023, surpassing other altcoins, following a court decision declaring it not an unregistered security, resulting in its relisting on major US exchanges; however, XRP's price has decreased from its peak in mid-July.
Crypto strategist Michaël van de Poppe believes that XRP, Chainlink (LINK), and the controversial altcoin Worldcoin (WLD) may present trading opportunities, with XRP potentially rallying above $0.70, LINK potentially reaching $8.59, and WLD offering short-lived rallies.
Experts suggest that investors should consider buying Bitcoin as well as popular altcoins like Ethereum and XRP, and pay attention to Layer 2 solution tokens, in order to potentially make money after the Bitcoin halving in 2024.