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BTC, ETH and XRP Price Analysis for May 31

Price Predictions
Mon, 05/31/2021 - 15:52
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Denys Serhiichuk
Can Bitcoin (BTC) remain an example for altcoins to follow?
BTC, ETH and XRP Price Analysis for May 31
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The last day of May seems to be bullish for traders as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has gained the least today from our list as the rate of the main cryptocurrency has risen by 4.59% over the last day.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) has once again successfully bounced off the $34,000 mark, confirming bullish influence. However, the buying trading volume is at its lowest level, which means that bulls are not ready yet for sharp growth.

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BTC, XRP, BNB, YFI, UNI and DOGE Price Analysis for May 30

In this case, the sideways range between $37,000 and $38,000 is the more likely scenario for the next several days.

Bitcoin is trading at $37,045 at press time.

ETH/USD

Ethereum (ETH) has shown greater growth than Bitcoin (BTC) with a price change of +10.36%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

The ongoing rise of Ethereum (ETH) is not accompanied by a growing trading volume, which means that bears may seize the initiative soon. If bulls can fix above the vital mark of $2,700, the level of $3,000 may be attained by the end of the week.

Ethereum is trading at $2,612 at press time.

XRP/USD

XRP is the biggest gainer today, rocketing by 15% since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP is an exception to the rule to a certain extent as the rise may continue, supported by increasing trading volume. If buyers can hold the vital mark of $1, the next level at $1.09 can be achieved very soon.

XRP is trading at $1 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.