ADA, SOL, and XRP each lose 5%, investors continue to ‘buy the dip.’

ADA, SOL, and XRP each lose 5% – Investors continue to bet on “buy the dip”

The crypto market is showing a downward trend at the start of the week, and major altcoins Cardano (ADA), Solana (SOL), and Ripple (XRP) are also affected. They each lost around 5 percent of value in a 24-hour comparison. Instead of panic selling, however, it seems that the community is still focusing on “buy the dip”.

Cardano (ADA) the biggest loser in the Top 10

With a market capitalization of just over 7 billion US dollars, Cardano (ADA) currently ranks 9th among the largest cryptocurrencies globally. As recently as Friday, ADA had been trading at around 0.28 US dollars but is now quoted at 0.26 US dollars, representing a loss of nearly 7 percent within a short period. This decline in price has led to more people taking a closer look at Cardano.

Solana (SOL) losing altitude under negative headlines

Solana (SOL) is also losing value, dropping to just below 22 US dollars, marking a decrease of over 5 percent. Solana’s ecosystem has been burdened with negative headlines, including a recently discovered security gap in a major DeFi application. Investors are cautious but not completely turning away from Solana.

Ripple (XRP) – The SEC case is a wildcard

Ripple’s XRP, at around 0.48 US dollars, also faced a 5 percent drop over the weekend. Following Ripple’s partial victory against the US Securities and Exchange Commission (SEC), the bullish mood had cooled off. The pending proceedings and accompanying news can quickly move the price, thus remaining a significant risk factor for XRP.

Bitcoin just shy of the 27,000 US dollar mark, but market sentiment surprisingly robust

Bitcoin is also experiencing difficulties beginning the new week and is trading at roughly 26,800 US dollars. Other prominent altcoins such as ETH or BNB are mirroring the downward trend. However, the psychological resilience of investors can be seen because, instead of panic selling, money seems to be flowing into cheaper purchase prices, adhering to the strategy known as “buy the dip”.

Conclusion: Market participants remain alert

Market observers don’t want to rule out that the current slump could continue in the longer term, but investors choosing the “buy the dip” approach are hoping to secure cheaper entry points. Therefore, the majority of market participants seem to be using the recent price slides to strategically position themselves for a potential recovery.