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⭐ Features

BTC, ETH, XRP Price Analysis — Bitcoin Has Reached $200 Bln Market Cap. Rates Are Moving Higher

  • Denys Serhiichuk
    ⭐ Features

    Slowly but surely, the market is going north. Our price analysis describes when to expect a possible correction


BTC, ETH, XRP Price Analysis — Bitcoin Has Reached $200 Bln Market Cap. Rates Are Moving Higher
Contents

It looks like the cryptocurrency market is not going to face any correction, as Bitcoin, along with the top 10 coins, is going up. Only the price of Binance Coin has dropped by around 0.5% over the past 24 hours when the biggest gainer is BTC, whose rate has increased by more than 4%. The ongoing market growth has affected the total market capitalization, which has gone up by $10 bln over the previous day. 

Cryptocurrency market capitalization by CoinMarketCap

While Bitcoin is moving north faster than other coins, its dominance rate is approaching 60% and now makes up 59.7%. 

BTC/USD

Currently, Bitcoin is not following our earlier scenario, as the quotes are located above $11,000. While trading above $10,000, the main cryptocurrency has not faced a correction, suggesting a possible rollback soon.   

BTC/USD chart by TradingView

On the daily chart, one can expect a sideways trend and a fix above $10,000. Such a movement is confirmed by the trading volume, which is in stagnation now. What is more, the RSI indicator is overbought, rejecting any movement higher $12,000 without a rollback.

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The price of BTC is trading at $11,310 at the time of writing.

ETH/USD

ETH quotes also moved higher, catching up behind Bitcoin; however, the leading altcoin is losing its value in correlation to BTC. 

ETH/USD chart by TradingView

According to the 4-hour chart, bulls are not going to give the baton to bears. Comparing Ethereum with Bitcoin, the second most popular crypto has lost around 50% of its price over the last year. Respectively, the current rate is not the ceiling, and the asset has strength to rise higher. Thus, the MACD indicator confirms the bullish tendencies, suggesting the growth up to $320 until the end of June.

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The price of ETH is trading at $313.15 at the time of writing.

XRP/USD

Ripple is moving according to our forecast yesterday; its rate has increased by 1.6% over the last 24 hours. 

XRP/USD chart by TradingView

On the 30 minute graph, Ripple is likely to locate in a sideways trend in the range between $0.4520 and $0.49. The technical patterns back such price movements of XRP. Mainly, the MACD indicator is near its local maxima, and RSI remains neutral. While the asset is above $0.45, there are no prerequisites for a decline. 

The price of XRP is trading at $0.4715 at the time of writing.

Cover image via 123rf.com
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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 make 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.

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