Altcoins are subject to significant price corrections in the wake of Bitcoin. However, crypto expert Elmaz Sabovic evaluates that this decline could be an investment opportunity. In this regard, the expert identifies three altcoins that have stood out recently due to price fluctuations, increased investor interest or significant development initiatives. This selection specifically focuses on affordable options under $1.
XRP (XRP) tops the list
Given the ongoing regulatory uncertainty regarding Ripple and the Securities and Exchange Commission (SEC), the trajectory of XRP’s (XRP) value remains unclear and subject to speculation. In particular, investors are watching XRP closely, primarily because it is undergoing a period of consolidation.
XRP holders need to watch the charts closely, especially on the monthly time frame. Because the altcoin has not yet exceeded a critical threshold. So, it has yet to achieve a monthly candle close above $1.2. The charts point out the presence of body candles. However, it does highlight the absence of a full body candle. Once XRP successfully completes a monthly candle close with its entire body above $1.2, it is poised to trigger a significant rally to $2, according to analyst Egrag Crypto.
XRP’s future support chart. Source: Egrag CryptoAt press time, XRP was trading at $0.6121. This means a decrease of 6.95% in the last 24 hours, according to the latest data. The altcoin also saw a loss of 1.27% over the last 7 days. It witnessed a decline of 9.45% in the last 30 days.
XRP 24-hour price chart. Source: CoinMarketCapIn second place is Cardano (ADA), the rival of the leading altcoin Ethereum
Cardano (ADA) has slowed after making significant gains in the previous 30 days. Now it has entered a consolidation phase. This brought a drop in price and an entry opportunity for investors. Despite this, this year has been extremely positive for the altcoin. Because it recently surpassed a threshold of $370 million in total value locked (TVL), an increase of 520% since the beginning of 2023. This milestone propelled ADA into the top 10 crypto list by TVL, according to DefiLlama data.
Cardano’s TVL annual chart. Source: DefiLlamaAt the time of writing, ADA was changing hands at $0.5337. This means a decrease of 10.32% from the previous day. However, the altcoin witnessed a significant increase of 33.9% over the past week. There is a 36.85% increase in ADA’s monthly performance.
ADA 24-hour price chart. Source: CoinMarketCapThe original meme coin Dogecoin (DOGE) took the last place
Posting a significant increase in the previous month did not protect Dogecoin (DOGE) from the pullback cryptos were experiencing. Some investors say it has experienced a sudden crash in the last 24 hours. However, when analyzing the weekly price chart, this sudden crash, which usually occurs within days rather than hours, appears to be a weekly pullback that allows the price to move higher, according to crypto analyst The Coach.
DOGE flash crash chart. Source: The CoachAt the time of this writing, DOGE was trading at $0.09331. This indicated a 0.08% decrease in price of 7.95% on a daily basis. However, the altcoin has gained 5.45% in the last 7 days. On the monthly chart of DOGE, it is sitting on a 16.5% profit.
DOGE 24-hour price chart. Source: CoinMarketCapAs these digital assets decline in price, an opportunity for potential investment emerges. However, it is crucial to acknowledge the inherent volatility of the crypto market. Additionally, investors are strongly advised to conduct a thorough analysis before allocating their resources.
The opinions and predictions in the article belong to experts and analysts and are definitely not investment advice. As Kriptokoin.com, we recommend that you do your own research before investing.
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