"Crypto Crash: Four Tokens to Buy the Dip for Long-Term Gains"
The cryptocurrency market experienced a significant downturn on Tuesday, with the total market capitalization dropping to a four-month low. This decline, which saw liquidations surpass $1.5 billion, has sparked interest among investors looking to capitalize on potential long-term profits by buying the dip. Here, we highlight four crypto tokens that could offer substantial returns despite the current market conditions.
Ripple (XRP) is one of the top crypto tokens to consider for long-term profits. Despite a 10% drop in 24 hours, XRP's price remains at $2.23. The altcoin has seen significant institutional adoption, with $38 million in inflows last week and $819 million since November 2021. Although XRP faces near-term bearish pressure, it has the potential to rebound and reach $3.14 if traders buy the dip.
Solana (SOL) is another promising crypto token to buy during the dip. With $9 million in inflows last week and $30 million over the past month, anticipation around the potential approval of a SOL ETF is driving institutional adoption. Although Solana's price has been affected by bearish trends, it is still trading above its one-year support level of $119. If traders buy the dip, Solana price may recover to the 61.8% Fibonacci level of $186, paving the way for a rally towards $300.
Ethereum (ETH) has successfully defended a multi-month support level of $2,300, suggesting that buyers are actively accumulating at lower prices. Ethereum whales holding between 10K and 100K ETH have increased their holdings by 24% over the past year, indicating that they have been buying despite the sluggish price performance. Rising whale activity and other bullish catalysts like inflows from ETH ETFs and network usage bode well for Ethereum's price prediction, making it an attractive option for investors looking to buy the dip.
SUI (SUI) is another altcoin to consider for long-term profits. With a 7% drop in 24 hours, SUI's price currently stands at $2.80. The altcoin has year-to-date inflows of $37 million, suggesting that investors anticipate strong performance in the near term. SUI
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