A high-profile crypto analyst who continues to amass a large following due to his bullish XRP calls is unveiling the names of coins that he believes are solid buys amid the violent pullback.
In a new tweet, the trader known as Credible Crypto tells his 161,600 followers that he’s keeping a close watch on large-cap coins as the market digests the abrupt correction.
“Large caps rule the day for now. Some of my personal favorites that I think are great buys on this dip right now: BCH (Bitcoin Cash), LTC (Litecoin), XRP, ETH (Ethereum).”
On Saturday, the broader crypto market collapsed as Bitcoin tumbled from about $60,000 to $52,000 in a matter of hours. Bitcoin Cash, Litecoin, XRP, and Ethereum were not spared from the sudden downturn as the large-cap coins plunged along with Bitcoin.
Ethereum fell from $2,393 to a low of $1,970, according to CoinGecko. The move represents losses of nearly 18% in just a few hours.
XRP dropped from $1.60 to as low as $1.19, wiping out over 25% of its valuation.
Litecoin lost almost 25% of its value as it plummeted from $317 to $243.
Bitcoin Cash decreased 22% as it sank from $1,068.73 to $833.50.
In the midst of the market-wide pullback, Credible Crypto reveals that he’s buying the dip.
“Added some BCH, LTC, XRP and HBAR on this dip. (Sorry ETH decided I have enough of you).”
As for Bitcoin, the trader notes that he’s out of the leading cryptocurrency.
“Lost the key level and went straight to the bottom of a range. Quite a violent drop here. Short hedges closed at $54,000 and am now watching to see how we settle out here. BTC.”
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/77Icaros
