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The crypto market continues to struggle under bearish headwinds after the US stock market crashed yet again on April 4. In the last 2 days, the S&P 500 index that tracks the top 500 US companies has lost over $3.5 trillion in market cap. In this article, we look at the top 3 altcoins to buy during this dip across risk assets for significant returns.
S&P 500 Loses $3.5 Trillion Amid Macro Fears
The US stock market has been one of the worst-hit sectors following President Trump’s ongoing tariff war. In the last two days, the S&P 500 has lost more than $3.5 trillion in market cap.
On Thursday, the S&P 500 index closed with 5,396 points, marking its lowest level since August 2024. At the same time, the Nasdaq index lost more than 1,000 points, with the Wall Street Journal warning that it could be headed to a bear market.
The crypto market has mirrored the dip in the US stock market. Bitcoin fluctuates between $81,000 and $84,000, while Ethereum price has fallen to $1,700. Nevertheless, traders should consider to buy altcoins during the dip.
Altcoins to Buy the Dip Despite Macro Fears
Three altcoins are standing out with some strong fundamentals, bullish news, and narratives that suggest they can show strength despite the downtrend. The top altcoins to buy the dip include Ripple (XRP), Shiba Inu (SHIB), and Tron (TRX).
Ripple (XRP)
XRP price today trades at $2.06 with a 3.4% gain. XRP is one of the altcoins to buy after Coinbase filed for XRP futures with the CFTC. At the same time, April 16 will be a major date for the SEC vs. Ripple lawsuit where a final statement on this case will be issued.
The 4-hour price chart for Ripple shows that bulls are attempting to come back into the market. The ADX histogram bars, albeit being in the negative region have flipped to green. This might culminate in high buying activity.
If traders accumulate during the dip and a reversal happens, the major resistance to watch is $2.34. The volume profile bars show that this level has previously attracted buying activity, which may help in dirving the upward momentum. This makes Ripple among the top altcoins to buy.
Shiba Inu (SHIB)
The Shiba Inu meme coin is also one of the top altcoins to buy. This meme coin has some strong fundamentals that may drive a price rally. As a recent Coingape article reported, SHIB’s layer 2 network, Shibarium, is on the verge of major network updates.
At the same time, the SHIB burn rate has been rising. At press time, this burn rate was up by more than 1,900%, with 48M SHIB tokens being removed from the circulating supply.
Shiba Inu is attempting to break out from a descending triangle pattern as seen on the hourly chart. If SHIB flips resistance at the upper trendline, it may spark a strong move to $0.0000134. The RSI also stands at a neutral zone of 49, and if buyers enter the market, it could aid the uptrend.
Tron (TRX)
The four-hour price chart for TRX shows a bullish Tron price prediction. Unlike many altcoins that have been under bearish pressure recently, TRX is moving within an ascending parallel channel with a series of higher highs. This shows upward momentum.
Technical indicators also support the positive outlook. The RSI stands at 60 while the MACD line has formed a buy signal after crossing above the signal line. This technical setup makes Tron one of the top altcoins to buy.
Summary of Top Altcoins to Buy
The S&P 500 has shed more than $3.5 trillion from its market cap in the last two days due to macroeconomic fears. The crypto market has also mirrored this decline as Bitcoin and most altcoins struggle under bearish pressure. Despite these headwinds, the top altcoins to buy during the dip include XRP, SHIB, and TRX.
Frequently Asked Questions (FAQs)
The top altcoins to buy during the dip include XRP, SHIB, and TRX. These altcoins have strong fundamentals and a bullish technical setup.
The S&P 500 index is dropping due to macroeconomic uncertainty. This index has lost more than $3.5 trillion in the last two days.
XRP price is gaining after Coinbase launched Ripple futures. Traders are also buying the rumor of the SEC issuing a final statement on April 16.
muthoni
Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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