5 Best Cryptocurrencies to Buy for Lower Risk Returns for November 2021 Week 2
The crypto market has seen substantial gains in the past week with several crypto assets gearing towards new support prices and achieving new all time highs (ATHs). With the market consisting of top gainers such as bitcoin that offer long-term profits, the market also promises returns on crypto assets that are lower risk investment opportunities.
If you are looking for the best cryptocurrencies to buy for lower risk returns then this article should come in handy.
1. Ripple (XRP)
Ripple Labs is enabling a new era of finance that supports high performance payments for businesses. Ripple’s XRP token has been a boon for many and remains one of the top cryptocurrencies to buy for lower risk returns given that it trades below $5.
The token price is one that allows investors to invest low amounts of money into the market which will in turn yield tangible returns when the token reaches new record highs in the coming weeks.
Ripple has remained one of the most active forces in the crypto market and has partnered with several key legacy institutions in the last few months. It recently unveiled its new Liquidity Hub service which seems to be a fund pool for legacy-based institutions to offer crypto services to their customers at competitive prices.
The announcement is timely for investors who intend to gain and could take advantage of this week’s dip to maximize profits.
Its monthly chart suggests a positive 5% increase as it currently trades at $1.207. However, it only manages to rise above its 20-day moving average (MA) OF $1.202. It has seen a weekly downturn of up to 4% but shows promise of a better performance in the coming weeks due to a fundamental outlook on the token and its 53.0 score on the Relative Strength Index (RSI) which confirms its position in the underbought region.
2. Dogecoin
Dogecoin is one of the best cryptocurrencies to buy for lower risk returns in the crypto market place as it constantly enjoys the support from the Tesla CEO, Elon Musk who recently stated that he prefers to invest in building products and providing services to fellow humans, listing bitcoin, ether and Dogecoin as the only digital assets he owns. The tech billionaire has always been insistent on the possibility of Dogecoin becoming a real currency, which would be an ironic outcome, speaking and tweeting about it as far back as 2019.
Dogecoin had a great run in the first few months of 2021 due to the support the influential billionaire had given to the coin. It has realized a 9000% increase in price in the past year, making it one of the fastest growing crypto assets. Dogecoin, however, is currently trading under the 20-day MA support price of $0.261, a 2.20% decrease. The dip presents investors with an opportunity to secure a viable position in the market before a precedent hike in price due to Elon Musk’s enthusiasm towards the coin.
3. Shiba Inu (SHIB)
The Shiba Inu coin took the world by storm in the month of October, surging over 70% in price in a week. The token became listed in more exchanges in the past two months which increased its liquidity and provided potential investors more access to the coin.
The token emerged as a decentralized and spontaneous community experiment and has gone on to be ranked the 11th most valuable coin with a live market capitalization of $28 billion.
The token reveals prospects of potential real-world adoption AMC CEO Adam Aron made a twitter poll for customers to indicate their interest in Shiba Inu becoming one of its verified online payment methods amongst other cryptocurrencies.
The poll was greeted with a resounding ‘Yes’ as over 81% of the votes indicated an interest in Shiba Inu as one of AMC’s official payment methods.
The token has achieved a 76% increase in the past month. However, the coin is currently experiencing a depreciation in price with its current price of $0.00005200 dwindling below its 20-day MA price of 0.0000533, indicating an 8% decrease in the last day. With the adoption of the token as a valid payment method for the movie exhibition giant, Shiba Inu is sure to witness another hike in price in the coming week. Its low price peg makes it one of the best cryptocurrencies to buy for lower risk returns.
4. Cardano (ADA)
Cardano (ADA) is a network protocol that functions on a proof-of-stake (PoS) consensus mechanism and is geared at combining premier technologies to provide optimal security and sustainability to decentralized applications (DApps). Cardano is the first platform to be built through the peer reviewed secure blockchain protocol known as Ouroboros.
Over the past few months, Cardano has recorded a 43% and an overall 1100% increase this year with an all time high of $3.10 and is setting the stage for new highs. However, its 24hr chart analysis indicates a 2% decline in its price but recorded a 1.24% increase in the past week which indicates a potential surge in the coming week.
Cardano’s technical indicators depict a dip with its current market price a few digits below the 20-day MA support price of $2.05, presenting an opportunity for low risk investors to take up suitable positions that could yield substantial gains in the coming weeks. The RSI figure of 34.54 shows that it is tilting towards an oversold region. Cardano is in its early stages of growth and promises to improve itself until it is fully self-sustaining.
Cardano currently processes up to 250 transactions per second (TPS) which is expected to increase to over 1 million TPS with the release of the Hydra upgrade in the coming weeks.
The protocol’s use case in DeFi and NFT ecosystems shows that it is one with huge potential and its low price peg indicates that it is one of the best cryptocurrencies to buy for long term returns.
5. Fantom (FTM)
Fantom is a scalable open source smart contract platform that aims to deliver speed, security and reliability. Fantom establishes a convenient experience for its users as it enables transactions to be processed and finalized in a second and costs only a fraction of a cent as transaction fees.
With a lot of crypto assets demanding high transaction fees, Fantom proposes faster and more efficient payment processes using the Lachesis consensus algorithm which is a more secure, scalable and faster alternative to the classical Nakamoto consensus mechanism.
FTM has realized a 950% increase in the last 6 months with the price ralling up to $2.5 from a meager $0.2. The coin recorded a 1.5% decrease in price over the last day and is currently trading below its 20-day MA of $2.56 at a current price of $2.531. The coin is steadily on an upswing and shows no signs of slowing down in the long run. The present dip poses a great opportunity for investors to maximize profits in coming weeks.
With Fantom snapping major partnerships in the last few weeks, the cleaner and more economical dApp protocol is one of the best cryptocurrencies to buy for lower risk returns.
Text source: InsideBitcoins.com
