BTC, ETH and XRP Price Analysis for September 1

Price Predictions
Tue, 09/01/2020 - 14:09
Denys Serhiichuk
Can Bitcoin (BTC) and XRP outperform the growth of Ethereum (ETH)?
BTC, ETH and XRP Price Analysis for September 1
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.

Contents

September has begun with the ongoing growth of most of the cryptocurrencies. Chainlink (LINK) remains the only coin from the Top 10 list located in the red area.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data of Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$220,147,925,249 $11,914.86 $27,422,645,256 1.46%

Ethereum

ETH

$52,863,232,844 $470.22 $17,594,220,472 7.51%

XRP

XRP

$13,074,481,178 $0.290577 $1,504,616,919 3%

BTC/USD

Yesterday, buyers achieved a retest of the POC line ($11,740). The daily high is set at $11,780. At night, one could observe the reaction of the bears, which tried to return the pair below the two-hour EMA55. The local minimum is marked around $11,515.

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

If the bears continue to push this morning, the pair will test the 50% Fibo level ($11,394). If buyers take advantage of the support of the average price level, then the next daily maximum is possible in the resistance area of $12,000.

Bitcoin is trading at $11,901 at press time.

ETH/USD

Yesterday afternoon, the Ethereum (ETH) price continued to recover and tested the August high zone, but it was not possible to update the record summer price.

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

At night, sellers returned the pair to the level of $430. If the selling pressure ends at this point, then on the first of September the price of Ethereum (ETH) may update the annual maximum to $480. With a strong bullish impulse, the price may break the psychological level of $500.

Ethereum is trading at $470.58 at press time.

XRP/USD

Yesterday, market participants were unable to significantly increase trading volume, and the price was in a narrow consolidation at the level of $0.280.

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The bears' efforts were limited to the two-hour EMA55, which the sellers managed to pierce, but in the morning the pair is still holding above the average price level.

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

The market may contribute to continued consolidation in the sideways range. If a positive mood prevails in the market today, then the XRP price recovery will reach the POC line ($0.294).

XRP is trading at $0.2899 at press time.

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.