The recent decision by the Federal Reserve to cut interest rates and its dovish tone may boost stock and crypto markets as investors embrace risky assets. This article explores the best crypto to buy and ride the altcoin season that may happen as monetary conditions ease.
Best crypto to buy after the Fed cuts
The best cryptocurrencies to buy after the Fed started cutting interest rates are those with strong fundamentals and technicals. Some of them are tokens like XRP, Keeta, Solana, and Hyperliquid.
Keeta
Keeta is a new crypto project backed by Eric Schmidt, the former Google CEO. It is a major blockchain project that aims to bridge the gap between traditional finance and the blockchain, helped by the ability to process over 1 million transactions per second.
The main catalyst for the Keeta price will be the upcoming mainnet launch, which will happen this week. Historically, cryptocurrencies do well when there is a major development, such as a mainnet launch or an exchange listing.
In Keeta’s case, the mainnet launch could lead to more exchange listings, which will push it higher. A good example of a coin that surged recently was Somnia, whose token surged to a record high after it launched its mainnet.
XRP
Ripple(XRP) is the other main crypto to buy for big gains. It has both fundamental and technical catalysts. First, the recently launched spot XRP ETF, which is based on the Investment Company Act of 1940, has started well, with some of the best volumes. It has also crossed the $10 million asset mark in the past two days.
Second, the Securities and Exchange Commission will likely approve the Act 33 ETFs by companies like Franklin Templeton, Invesco, Bitwise, and Canary in October when the deadline arrives. With the expensive Rex-Osprey XRP ETF seeing robust inflows, there is a possibility that these funds will do much better.
Analysts predict that these funds will have over $8 billion in inflows in the first 12 months after launch, which will boost its price.
The XRP price also has strong technicals. It remains above the 100-day Exponential Moving Average, and has formed the highly positive bullish flag pattern. The coin has also formed a cup-and-handle, pointing to a strong surge in the coming weeks.
Hyperliquid (HYPE)
Hyperliquid token is another top crypto to buy as the Fed cuts interest rates. It has some of the best fundamentals in the crypto industry, with its platform processing hundreds of billions of dollars in volume every month.
DeFi Llama data shows that the network handled over $315 billion in volume in the last 30 days, much higher than Lighter, which handled $131 billion and Aster, which processed tokens worth $19 billion.
HYPE price will surge ahead of the upcoming USDH stablecoin launch and as its token burns and buybacks.
Hyperliquid’s token also has strong bullish technicals. It has formed an ascending triangle pattern, which it has already flipped. The current pullback is likely part of a break-and-retest pattern, which often leads to more gains. Therefore, the coin will likely drop to $50 and then bounce back to $100 in the longer term.
Solana (SOL)
Solana is another top crypto to buy because of its strong fundamentals and catalysts. One of the catalysts is the upcoming SOL ETF approvals by the SEC. As the biggest rival to Ethereum, there is a possibility that the SOL ETFs will have strong gains once approved.
Solana price will also benefit from the upcoming alpenglow upgrade that will introduce new features. Some of the most notable features are its transition into a proof-of-stake network and the surge in its throughput.
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