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.”
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