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📈 Price Predictions
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Daily Price Prediction: Bitcoin Is Fighting for Each Resistance Level, Altcoins Are Following Their Own Patterns

  • Denys Serhiichuk
    📈 Price Predictions

    Against the market depression, some coins are managing to show growth. Our price prediction suggest where to invest in making profit

Daily Price Prediction: Bitcoin Is Fighting for Each Resistance Level, Altcoins Are Following Their Own Patterns
Cover image via 123rf.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

Despite yesterday market drop, bulls are struggling to push bears aside, and they are succeeding in it to a certain extent. Mainly, the total market capitalization is about to come back on psychological level at $250 Bln.

Cryptocurrency market capitalization by CoinMarketCap

The BTC domination index has almost not changed since yesterday and now makes up 55.7%. However, against the market correction, some altcoins have recovered their positions faster than the top assets.

Today Bitcoin SV and Tron are the top gainers, while the biggest losers are Tezos and Ethereum Classic out of the top 10 coins.

The reason explaining the growth of Tron refers to its CEO Justin Sun, who paid $4,567,888 for the right to dine with the famous Bitcoin critic billionaire Warren Buffett.

Now, let’s get to the chart to analyze the technical scenario of the top coins.

BTC/USD

As we predicted, bulls are not going to 'relax' for a long time, and today buyers have accumulated their efforts and won back $400.

BTC/USD chart by TradingView

The increasing trading volume is another reason for a growth rate; the quotes were trading near their local maxima from May 31 until June 3, even though the volume was lower than today.

If we apply the сurrent market slew to the one that happened at the end of May, one can expect Bitcoin trading at $8,000 on June 9.

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The price of BTC is trading at $7,833 at the time of writing.

ETH/USD

Yesterday Ethereum was almost copying the movement patterns of the leading cryptocurrency. Today it is performing even better, showing decline only by 0.9%. The fundamental background may be the reason for it - the global audit company Ernst & Young launched protocols for Ethereum and at the same time criticized the altcoin.

ETH/USD chart by TradingView

On the 1H chart, Ethereum was mostly dominated by bears since May 30; however, the current levels might be a good chance to buy deep.

The technical indicators confirm the growth even in the short-term; MACD is about to change the trend from bearish to bullish, and the trading volumes are also quite high. Taking into consideration these factors, Ethereum has all chances to reach $270 until mid-June.

The price of ETH is trading at $241.07 at the time of writing.

XRP/USD

Nothing has been changed since yesterday, and XRP remains the biggest loser; currently, the asset is losing more than 3% of its value. Besides, the general market dump, some fundamental factors also might affect the deeper correction. Particularly, Ripple unlocked 1 Bln XRP from an escrow valued at about $442 Mln.

XRP/USD chart by TradingView

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Ripple Price Analysis — Next Course Movements After a Bullish Jump

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In terms of the technical analysis, Ripple is dominated by bears; the RSI indicator is looking downwards, suggesting that sellers have not sold all their savings.

In this regard, the nearest support line where quotes might reach in the short-term scenario is $0.36.

The price of XRP is trading at $0.3943 at the time of writing.

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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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📰 News
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Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says

  • Yuri Molchan
    📰 News

    A Bitcoin bull and investment guru Tim Draper predicts the calm before the storm for the XRP price, as “to call Ripple developers actions wrong is impossible”

Ripple's XRP Is in for ‘Explosive Growth’, Prominent Venture Investor Tim Draper Says
Cover image via en.wikipedia.org

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

When asking a question about when XRP is going to hit its quickest high profits in the quora.com forum, a user gets a reply from Tim Draper himself, who says that the XRP price is about to experience an ‘explosive growth’.

Tim Draper is pumping XRP

Tim Draper, a prominent venture investor and a Bitcoin bull, seems to be excited by the current Ripple expansion. Judging by his words, he is predicting the XRP to soar in the short term, calling it the calm before the storm or ‘explosive growth’, putting it a different way.

Tim Draper says:

“Looking at the three-time growth of Bitcoin over the past 5 months, one would expect a similar result from XRP.”

XRP should have already grown beyond $0.6 or even $0.9 by now, says the crypto investor, when talking about the results of recent Ripple’s expansions and the partnerships the crypto unicorn has initiated lately.

“The company is actively developing, expanding the sphere of influence, enlisting the support of large financial institutions and constantly improving the technology of transfers.”

Finally, he states:

“In addition, Ripple is owned by SBI, a large corporation with companies such as R3. Everything indicates that the current situation, only the calm before the storm, in our case, before the explosive growth.”

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Ripple Opens New Office in the Heart of Washington, DC, to Educate US Lawmakers

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Ripple expands to Washington, D.C.

Previously, U.Today reported that the crypto giant has decided to expand its presence to Washington, D.C., to be closer to regulators, as per the CEO Brad Garlinghouse, and educate them on crypto and the blockchain.

He stated to Forbes:

“We’re focused on maintaining a dialogue with Washington regulators and policymakers and being a resource to the Hill allows us to be easily accessible at all times.”

Apart from extending its arms to Washington, Ripple has joined the Blockchain Association.

 

What is your bet on the price moves XRP is going to take in the near future? Share your view in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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