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BTC, ETH and XRP Price Analysis for July 31

Mon, 07/31/2023 - 18:00
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Denys Serhiichuk
When can traders expect slight rise of popular cryptocurrencies?
BTC, ETH and XRP Price Analysis for July 31
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Bears are dominating on the first day of the week, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap

Image by TradingView


The rate of Bitcoin (BTC) is almost unchanged since yesterday.

BTC/USD chart by TradingView

Image by TradingView

On the daily chart, the rate of Bitcoin (BTC) is more bearish than bullish, as the price has once again bounced off the resistance at $29,508. If nothing changes by the end of the day, traders are likely to see the test of the $29,000 area soon.

Bitcoin is trading at $29,295 at press time.


Ethereum (ETH) is looking more bearish than BTC as the rate has fallen by 0.76% over the last 24 hours.

ETH/USD chart by TradingView

Image by TradingView

From the technical point of view, Ethereum (ETH) is set to maintain the drop as the price has failed to fix above the $1,870 mark. Currently, a vital thing to watch is buyers' reaction in the area of $1,850.

Cardano (ADA) Price Analysis for July 30

If bulls lose that area, the drop may continue to the support at $1,816 soon.

Ethereum is trading at $1,858 at press time.


XRP is the biggest loser today, going down by 2.49% since yesterday.

XRP/USD chart by TradingView

Image by TradingView

Despite today's fall, the rate of XRP is trading sideways as neither bulls nor bears have seized the initiative yet. However, if buyers lose the interim level of $0.68, the accumulated energy might be enough for a support breakout, followed by an ongoing correction to the $0.65-$0.66 area.

XRP is trading at $0.6996 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at