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📈 Price Predictions
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BTC, ETH, XRP Price Prediction — The Necessary Correction Has Started: Where to Catch the Bottom?

  • Denys Serhiichuk
    📈 Price Predictions

    A correction has come back to the market after a relative pause. Read our price prediction to get rid of panic


BTC, ETH, XRP Price Prediction — The Necessary Correction Has Started: Where to Catch the Bottom?

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

Friday, May 17 has started with the needed rollback on the crypto market; the total market capitalization has declined by $20 bln overnight.

Currently, there are no vivid fundamental reasons for today’s decline – traders fix their positions. All this happens against the significant increase in the number of unconfirmed transactions in the Bitcoin network. At the time of writing, about 61 thousand transactions are stuck in the mempool.

BTC unconfirmed transactions

As it usually happens, when BTC falls, altcoins go down even faster. If a few days ago, Ripple gave profits to its holders, today its rate has dropped by almost 14%.

BTC/USD

A correction was predictable, as price volatility and volume dropped decently in recent days.

We wrote about such a scenario in our BTC forecast yesterday; as a result, a break in parabolic growth happened, and the rate declined below $7,600.

BTC/USD chart by TradingView

On the 1-hour chart, the quotes have gone below the support level at $7,320, where they are located now. The RSI indicator shows the oversold of the asset, meaning that a fast bounce back may happen to a crucial point of $7,550 in a few days.

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The price of BTC is trading at $7,228 at the time of writing, while the market share of the leading crypto is 56.3%.

ETH/USD

Although Ethereum is following the market decline, it is the only coin showing growth in correlation to BTC. Our Ethereum prediction came true, as a correction to the broken channel boundary occurred.

ETH/USD chart by TradingView

Ethereum quotes are looking similar to BTC movements, as ETH also corrected below its support level. Applying technical indicators, RSI is located in the neutral zone, while the Fibonacci retracement is in the red area. Taking into account these factors, traders can expect ETH at $250 until the end of the week.

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The price of ETH is trading at $239.60 at the time of writing.

XRP/USD

Ripple is the exact opposite to Ethereum, as XRP is the biggest loser today – its rate has decreased by more than 14% over the last 24 hours.

XRP/USD chart by TradingView

On to the 30-minute graph, one can notice a formation of a Triangle pattern, according to which the current level is the decisive one in terms of the trend formation: bullish or bearish. However, the RSI indicator is near its bottom so we can expect a return to $0.41 in the short-term scenario.

The price of XRP is trading at $0.3786 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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Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?


Ripple (XRP) Is Approaching the $0.27 Support Zone. How Low Might XRP Slump?

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 recent months have been nothing but disappointment for XRP traders, especially long-term hodlers. While Bitcoin and other altcoins have made a glorious path to new heights, XRP managed to crawl to $0.45 level and got back. Recently, it has even fell below $0.30 - a bad sign for traders. So, what to expect from XRP price next? Let’s check out Twitter users’ XRP price forecasts and their opinions. 

When innovations are hopeless

A lot of traders have been waiting for new technological advanced introduced by Ripple labs - it would make XRP price people thought. However, surprisingly, XRP did not grow - it went the opposite direction. This is what makes Twitter user say ‘RIP Ripple’.

Take a look at their predictions and moods:

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Dreamers stay dreamers

However, some users continue claiming that Ripple is able of reaching new heights. Here’s what some of them think:

A more possible scenario:

But what if Ripple is NOT supposed to be expensive? Take a look at this opinion:

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Indeed, XRP seems to stand aside from the scope of all other altcoins. It simply doesn’t follow the path of Bitcoin or any other digital currency. Market uptrend? Ripple hardly reacts. Technological advanced? XRP market does not depend on it either. Thus, making predictions often proves to be useless. 

Hold or buy more

Since no one knows for sure what will happen with Ripple (XRP) price, you can continue holding it and buy some XRP while the cost is tasty.

Moreover, XRP can dump a little bit more:

Thus, buying at $0.24 would be even a better idea. With the major downtrend on the crypto market, this might be possible.

Conclusion

Ripple’s XRP is too far from $0.50. Moreover, it might even drop below $0.30 again. That means you should either hold XRP for a few months (or years) more, or speculate on shorts – the second option is better for experienced traders.

Cover image via www.123rf.com
Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

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