As the cryptocurrency market continues to experience a significant downturn, well-known analyst Jake Gagain has highlighted XRP as one of the top altcoins to buy during this dip. Most cryptocurrencies have seen steep price declines compared to their highs in January. The recent drop was largely triggered by Bitcoin’s fall to $76,000, marking its lowest point in four months. Despite the ongoing market struggles, many experts believe that buying at these discounted prices could lead to substantial gains when the market eventually recovers. Gagain has pointed to several altcoins, including XRP, as prime buying opportunities in this climate.
At present, XRP is trading at $2.23, a 16.15% increase from its recent low of $1.92. Gagain believes XRP is particularly attractive for investors right now due to the potential resolution of Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC). After four years of legal uncertainty, there are rumors that Ripple is in talks to settle with the SEC on favorable terms. Should the lawsuit end, Gagain predicts that XRP’s price could see significant upward movement, not just in the short term but potentially throughout 2025. The resolution of the case would remove a major cloud of uncertainty surrounding XRP and could fuel a renewed bullish sentiment for the cryptocurrency.
In addition to XRP, Gagain has expressed bullish sentiment toward Solana (SOL), which has experienced a dramatic 62% drop from its all-time high of $295 in January. At the time of writing, Solana is trading around $112. Gagain is confident that Solana, being one of the most prominent and widely recognized cryptocurrencies, will rebound strongly from its current lows. He views the ongoing price dip as an excellent buying opportunity for long-term investors who are looking for assets with solid potential for growth once the market stabilizes.
Another altcoin that has caught Gagain’s attention is Tron (TRX), which he has been consistently dollar-cost averaging into. Gagain believes that Tron’s close ties with influential figures, including its founder Justin Sun and U.S. President Donald Trump, who has been pro-crypto, could be a positive catalyst for TRX. Moreover, Gagain notes that TRX has shown impressive resilience during the recent market correction, falling by just 12% in the last 90 days, in contrast to Solana’s 62% decline. This relative stability has made TRX an attractive investment, according to Gagain.
Other altcoins that Gagain has added to his list of top buys are SUI and Ethereum. SUI, a Layer 1 blockchain that gained significant traction earlier this year, has experienced a 58% drop from its January all-time high of $5, now trading at $2.20. Gagain sees this as an opportunity to purchase SUI at a steep discount. He points to the cryptocurrency’s rapid growth and the fact that it is supported by key figures like Eric Trump, the son of the U.S. president, as signs of its potential. As one of the fastest-growing Layer 1 solutions in the crypto space, SUI’s discounted price may present a significant opportunity for investors.
Ethereum (ETH), the second-largest cryptocurrency by market capitalization, rounds out Gagain’s list. Despite being Bitcoin’s closest competitor, Ethereum’s performance has not mirrored that of Bitcoin in recent months. Since January, Ethereum’s price has dropped by over 50%, while Bitcoin has only decreased by 30%. At a floor price of $1,862, Ethereum is now 62% below its all-time high, making it an appealing option for investors looking to buy a top-tier asset at a discount. Gagain views Ethereum as a strong buy at its current price, calling it a “steal” in the current market.
In conclusion, Jake Gagain’s picks for altcoins to buy at a discount include XRP, Solana, Tron, SUI, and Ethereum. Gagain believes that the current market dip presents an opportunity to buy these promising altcoins at reduced prices. With factors such as the potential resolution of Ripple’s legal case, Solana’s rebound potential, and the long-term growth prospects of other altcoins like TRX and SUI, Gagain’s insights suggest that these assets could see significant gains when the market recovers.
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