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📈 Price Predictions

BTC, ETH, XRP Price Prediction — Making More Than 10% in a Day: Bears Are Knocked Out

  • Denys Serhiichuk
    📈 Price Predictions

    Cryptocurrencies ignore any correction, breaking new levels every day. Read our analysis to know how to act on the bullish market


BTC, ETH, XRP Price Prediction — Making More Than 10% in a Day: Bears Are Knocked Out

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

The cryptocurrency market keeps surprising us, as prices of top coins have increased by more than 10% over the last 24 hours. Finally, altcoins also show their new ATHs; the biggest gainer is Ripple, whose rate has rocketed by 22% in just over a day.

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The total market cap is approaching the $250 bln mark, while the 24 hour trading volume is on the way to $100 bln.

Against all this, a number of momentous events occurred in the industry, pushing the market to new highs:

What’s more, the American eBay marketplace may start accepting cryptocurrency.

Now, let’s switch to technical factors.

BTC/USD

The world’s top crypto has recovered about 25% of its market value, which has decreased from nearly $20,000 (December maximum 2017) to $3,122, reached December 15, 2018.

At the moment, Bitcoin is testing the $8,000 psychological mark.

BTC/USD chart by TradingView

In terms of the 1-week graph, Bitcoin may repeat the scenario of September 2017, when the price of BTC soared by $6,000 over 1 month. Another decisive factor for the rate is that Bitcoin was finally able to rise above the 100-week moving average.

Overall, we can expect the price of $9,800 until the end of May.

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The price of BTC is trading at $8,008 at the time of writing.

ETH/USD

Our price forecast for yesterday came true, and Ethereum broke the resistance at $200 and went even higher. Slowly but surely ETH is following the growth of Bitcoin.

ETH/USD chart by TradingView

On the hourly chart, the asset shows steady growth after each movement down, and the quotes are trading in the ascending channel now. However, applying the RSI indicator, ETH needs to be corrected to $195 before the upcoming bull run. Such a scenario is likely to happen within a few days.

The price of ETH is trading at $209.75 at the time of writing.

XRP/USD

Ripple is the altcoin of the day, as its price has increased by more than 20% while the trading volume has more than doubled over the last 24 hours. One of the possible reasons for such a jump is that German stock exchange Börse Stuttgart has added stock notes based on Litecoin and XRP to the listing.

Ripple chart by CoinMarketCap

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XRP/USD chart by TradingView

Regarding the technical factors, the coin is trading at the position of December 2018. Currently, the rise is abnormal and looks like a pump. The RSI indicator is overbought, and the rollback is needed to the nearest level at $0.38. After that, steady growth will continue.

The price of XRP is trading at $0.3933 at the time of writing.

Cover image via www.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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