Top 6 Cheapest Cryptos You Should Buy Now

Introduction

In the dynamic world of crypto investing, finding the top cheapest cryptos to buy can be an enticing prospect for both seasoned traders and newcomers alike. As we navigate through 2024, the quest for affordable yet promising digital assets continues to pique the interest of investors worldwide. In this comprehensive guide, we delve into the realm of top penny cryptos, highlighting the most affordable yet potentially lucrative options available for investment.

From identifying the top cheapest crypto to buy in 2024 to exploring their growth potential, join us as we uncover the hidden gems of the crypto market. These tokens are available at a reasonably cheap price per token and also at attractive valuations while having good fundamentals and a promising future. Whether you’re seeking to diversify your portfolio or capitalize on emerging trends, this guide will provide valuable insights to inform your investment decisions.

Ripple (XRP)

Ripple’s XRP offers an intriguing investment opportunity as one of the top cheapest cryptos to buy in 2024. Despite its turbulent past, XRP has maintained its position as a top crypto, making it an attractive option for budget-conscious investors. With its focus on facilitating fast and low-cost cross-border transactions, XRP presents itself as a practical solution for mainstream adoption. As regulatory uncertainties surrounding XRP continue to dissipate, the token’s affordability and its potential for widespread utility make it a compelling choice for investors seeking top penny cryptos with long-term growth prospects.

XRP/USD | Source: TradingView

• Despite Ripple’s widespread use and popularity, the price performance of XRP price has fallen behind that of other prominent cryptos. A significant shift occurred on July 13, 2023, when the US District Court for the Southern District of New York ruled that XRP does not qualify as a security. This decision sparked a notable 74% surge in the price of XRP.
• Recent developments in Ripple’s legal battle with the SEC have attracted attention, particularly amid speculation that the case may escalate to the US Supreme Court. This speculation has heightened following a favorable ruling for the SEC in the ongoing Coinbase case.
• Over the last six months, the XRP price has fluctuated within a wide range of $0.47 to $0.72, currently lingering just above the lower end of this range, as indicated by the parallel grey channel.
• To regain bullish momentum, the price of XRP must sustain itself above the psychological barrier of $0.50 and surpass the resistance zone at $0.72. Achieving these milestones could set the stage for a resurgence in bullish sentiment.

Read More: Top Meme Coins in 2024

Cardano (ADA)

Cardano (ADA) stands out as a budget-friendly option among the top 10 cryptos, offering investors access to innovative blockchain solutions at an affordable price. With its emphasis on scalability, interoperability, and sustainability, ADA has garnered significant attention within the crypto community. As Cardano continues to roll out its smart contract functionality through the Alonzo upgrade, ADA’s affordability and potential for growth make it a standout choice for investors eyeing the top cheapest crypto to buy in 2024.

ADA/USD | Source: TradingView

• Amid the broader resurgence of the crypto market driven by Bitcoin price rally to record highs, Cardano’s ADA price has experienced a modest recovery. However, a minor correction in late March has prevented ADA price from surpassing the critical $0.70 threshold.
• The months of November and December 2023 witnessed a remarkable surge in the Cardano price, climbing from below $0.30 to nearly $0.67. Following a period of stabilization, ADA price regained momentum in March 2024, briefly exceeding $0.70 before retracing.
• Subsequent to this decline,  ADA price action has taken on a somewhat bearish tone, slipping below the medium-term trendline support (highlighted in blue). Additionally, Cardano price has dipped below both the 50-day and 200-day EMAs, suggesting potential bearishness from both short-term and long-term perspectives. The intersection of these two EMAs has also formed a bearish death cross, indicating the possibility of further selling pressures.
• The upcoming targets for ADA price are $0.50 and eventually $0.55, which align with the R1 and R3 Fibonacci levels for June 2024, respectively, if the base Fibonacci pivot level is breached.
• Conversely, the $0.40 mark is anticipated to serve as a crucial support level for ADA price, corresponding to the S2 level on the Fibonacci pivot points and offering significant reinforcement during potential market downturns.

Read On: Top Altcoins You Should Know

Tron (TRX)

Tron (TRX) emerges as a low-cost yet high-potential option among the top cheapest cryptos to buy in 2024. Known for its focus on decentralized content sharing and entertainment, TRX offers investors an affordable entry point into the world of crypto. With its growing ecosystem and strategic partnerships, TRX has the potential to disrupt various industries, including gaming and digital entertainment. As TRX continues to evolve and expand its use cases, investors looking for top penny cryptos with significant growth opportunities may find TRX to be an enticing option.

TRX/USD | Source: TradingView

• Tron is one of the biggest tokens in this list of the top cheapest cryptos to buy in 2024 by market cap, standing just over $10 billion as of writing this article. Currently trading just above the $0.1 level, this altcoin has come back into the limelight after a very long time, thanks to the controversy around the founder, Justin Sun.
• Despite that, the TRX price did see some rally in the early weeks of 2024, rallying over 33% in the first two months of the year before correcting significantly. Since that correction, the TRX price has not yet recovered despite multiple attempts at a breakout.
• Currently trading just below the short-term 50-day EMA and just above the long-term 200-day EMA, the token’s medium-to-long-term projection remains slightly optimistic, while the short-term definitely looks bearish.
• To regain bullish momentum, the TRX price must convincingly break out of both EMAs and sustain above both. Secondly, it also needs to breakout of the R1 Fibonacci level near the psychological level of $0.12 before fresh buying can come into this altcoin.
• On the downside, the region between the S1 and S2 Fibonacci pivot levels – between $0.1 to $0.11 should serve as a region of support for the altcoin, as it has done several times in the past.

Algorand (ALGO)

Algorand (ALGO) represents a blend of affordability and innovation, positioning itself as one of the top cheapest cryptos to buy in 2024. With its focus on scalability, security, and decentralization, ALGO offers investors access to cutting-edge blockchain technology at a budget-friendly price. As Algorand continues to attract developers and enterprises with its high-performance blockchain platform, the token’s affordability, coupled with its potential for widespread adoption, make it an attractive investment opportunity. ALGO presents itself as a compelling choice for investors seeking exposure to top cryptos with long-term growth potential.

ALGO/USD | Source: TradingView

• Algorand is another altcoin that is very cheap to acquire and is available at a valuation that is very attractive – making it on the list of the top cheapest cryptos in 2024. ALGO price saw a rally early in 2024, with a bulk of the rally happeneing between February and March but since touching a YTD high of roughly $0.33, it has been on a downward trajectory.
• ALGO price has nearly halved in value, falling just over 50% since touching its YTD high. This correction has resulted in ALGO price trading below both the 50-day and 200-day EMAs and at the same time, the two EMAs underwent a bearish death cross just a few days ago.
• To regain bullishness, ALGO price needs to break out of both the EMAs and also breach the crucial $0.25 level, which has serves as a signficant support/resistance level in the past and thus that needs to be breached.
• On the downside, the S3 Fibonacce level at $0.15 can serve as a region of support for the altcoin in the forseeable future.

Read More: Top Real World Asset Tokens

The Graph (GRT)

The Graph (GRT) emerges as a cost-effective option among the top cheapest cryptos to buy in 2024, offering investors access to decentralized indexing and querying functionality at an affordable price. As the demand for decentralized applications (dApps) continues to rise, GRT plays a crucial role in enabling efficient data access and retrieval on blockchain networks. With its focus on democratizing access to blockchain data, GRT presents itself as a promising investment opportunity for those seeking exposure to top penny cryptos with potential for significant growth in the decentralized finance (DeFi) space.

GRT/USD | Source: TradingView

• One of the biggest AI-based crypto tokens by market cap, The Graph Token, represented by its trading symbol GRT, saw a massive 150%+ rally in the early days of 2025 but has been on a downward trajectory since then. GRT price went from under $0.2 to nearly $0.5 at its peak in March 2024 but has been falling consistently since then and is now trading at the $0.25 mark.
• GRT price is trading below both the 50-day and 200-day EMAs on the charts. If this continues, both crucial EMAs can potentially see a bearish death cross in the near future, which can bring further sulling pressure on this altcoin.
• Currently taking the support of the S1 Fibonacci level and trading just on the crucial psychological level at $0.25 – GRT price needs a strong upward jump to regain buying activity. GRT price needs to break out of both the EMA and the base Fibonacci pivot level for June 2024 at $0.3.
• Once $0.3 is breached, we can see targets of $0.38 to $0.43 in line with the Fibonacci resistance levels as the upcoming levels to watch out for.
• On the downside, if the region between $0.24 to $0.25 is breached, then the S2 Fibonacce level at $0.2 would serve as a level for support for GRT price.

Polygon (MATIC)

Polygon (MATIC) stands out as a budget-friendly option among the top cheapest cryptos to buy in 2024, offering investors access to scalable and interoperable blockchain solutions at an affordable price. With its focus on enhancing Ethereum’s scalability and user experience, MATIC has gained widespread adoption within the crypto community. As Ethereum continues its transition to Ethereum 2.0, MATIC’s Layer 2 scaling solutions provide a cost-effective way to mitigate network congestion and reduce transaction fees. MATIC presents itself as an attractive investment opportunity for investors seeking exposure to top cryptos with practical utility and long-term growth potential.

MATIC/USD | Source: TradingView

• Throughout 2023, Polygon’s MATIC price displayed relatively muted movements, failing to capitalize on market rebounds as effectively as its counterparts.
• However, in early 2024, MATIC price exhibited signs of a resurgence, testing the critical $1 threshold twice and briefly reaching $1.2, indicating a potential breakout. However, since mid-March 2024, MATIC has experienced a correction from $1.2, declining by over 50%.
• Presently, MATIC price is slightly below the crucial Fibonacci base pivot level at $0.7. To regain bullish momentum, it must once again surpass $1, which stands well above the R3 Fibonacci pivot level.
• Following this correction, the 50-day and 200-day EMAs formed a death cross on April 25, potentially introducing renewed selling pressure on MATIC price, a trend that persists.
• Looking ahead, the psychological level at $0.5 could serve as critical support, establishing a pivotal support zone for the altcoin.

Conclusion

In conclusion, while investing in some of the top cheapest cryptos to buy in 2024 presents opportunities for potential gains, it’s crucial to approach each investment with careful consideration and thorough research. The analysis of tokens like Ripple, Cardano, Tron, Algorand, The Graph Token, and finally, Polygon – reveals their unique price movements, trends, and potential future outlooks. As investors seek out top penny cryptos with promising growth potential, monitoring market dynamics, news developments, and technical indicators is essential to make informed decisions. While these cryptos may offer affordability, it’s important to remember that all investments carry inherent risks, and diversification and risk management strategies are essential. By staying informed and proactive in monitoring market trends, investors can position themselves to capitalize on opportunities presented by the top cheapest cryptos to buy in 2024.