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Best Crypto to Buy Now

Why These Tokens Could Multiply Investors’ Portfolios 10-Fold Despite a Bearish Market?

by Isaac lane
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Best Crypto to Buy Now

Despite the bearish trends in the cryptocurrency market, XRP, Cardano (ADA), and Render (RNDR) are demonstrating significant potential for investors. These tokens have posted impressive gains between 3% and 10%. This article explores the factors driving their positive performance and why these tokens are considered the Best Crypto to Buy Now.

XRP (XRP)

XRP has been in the spotlight due to the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Recently, the SEC’s final rebuttal was countered, boosting investor confidence. The court’s inclination towards Ripple’s defense, suggesting that XRP cannot be classified as a security, has led to a surge in XRP’s price.

Following these developments, XRP’s price surged from $0.618 to $0.631, marking a 2.10% increase. As of now, XRP is trading at $0.4319, reflecting a 7.34% increase over the past 24 hours. The 1-day Relative Strength Index (RSI) has risen to 52.70, indicating that XRP is emerging from the oversold zone and may see further price rebounds.

XRP’s immediate resistance level is around $0.4100, just above its current price. Surpassing this level could see the next resistance at $0.4500. The recent surge in trading volume, currently at $118.5 million compared to the Volume Moving Average of $29 million, indicates increased market interest and a possible shift in momentum.

Cardano (ADA)

Cardano‘s ADA token is poised for substantial growth due to the upcoming Chang hard fork. Cardano’s founder announced that a fork-ready node is now available, with developers awaiting 70% of stake pool operators to test and update, a process expected to take about a month. This event is likely to trigger a significant price breakout.

ADA is currently trading between $0.3453 and $0.4097, nearing its resistance level of $0.4372. Despite recent price volatility, ADA shows promise with a Relative Strength Index (RSI) of 38.011 and a MACD level of -0.00472. Surpassing the nearest resistance could lead to a 15% increase from the current upper range.

Render (RNDR)

Render (RNDR) has benefited from advancements in artificial intelligence (AI) technology, often referred to as the ‘Nvidia of crypto.’ Recently, RNDR’s technical analysis has posted a “buy now” signal, indicating significant potential for continued price growth.

The Render token is currently trading at $6.67, with a profit of over 3% today. The token has surged nearly 700% since its launch. With favorable market conditions, RNDR could reach a maximum price of $18.68 this year. Increased investor interest could also propel RNDR to a new all-time high in 2024.

RNDR’s RSI is around 40, and its MACD is close to zero, suggesting that bulls may dominate over weakening bearish sentiment. The nearest resistance is positioned at $6.9, and surpassing this level could propel RNDR toward $7.66, representing a potential increase of over 35%.

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