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New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?
New! Bitcoin Price Prediction: $3,600 BTC Price Is a Very Likely Scenario. When to Invest in Bitcoin (BTC)?

The Price of Major Coins to Surge This Week — Can Bitcoin Stay over $4,000?

  • Jack Thomas
    🤷 Opinions

    ⚡💣💣The cryptocurrency market looks prime for some movement this week, and a lot of analysts are predicting it to go up early on

The Price of Major Coins to Surge This Week — Can Bitcoin Stay over $4,000?
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Contents

The past week or so has seen the cryptocurrency market move quite sideways, but with a definite small incline across most coins. Some have been rallying on their own, such as Stellar and its XLM token, as well as Binance Coin and Litecoin, but on average there has been nominal growth.

However, with this sideways movement there is always anticipation of the market whether breaking in an upwards direction, or indeed collapsing again. This time around, the sentiment change in the past month or so, and the feeling that the cryptocurrency winter is coming to an end, means that many analysts feel the next break will be upwards.

Market analysts believe that the market will continue to surge this week, and with Bitcoin a few dollars short of the $4,000 mark – should it cross there – it will all become about trying to keep the major cryptocurrency above this resistance point.

A look at certain coins

With the positive sentiment creeping in across the markets, a number of the top 20 coins have had substantial rallies, and more importantly, they have managed to keep hold a lot of their gains. Litecoin is once such token that managed to grow as much as 33 percent in a 24 period this month.

Others, like Binance Coin, have shown the value of a true and useful utility token as the coin continues to rally through most of 2019 on the back of good news from its parent exchange, Binance.

At the moment, heading into this new week, Stellar is up 12 percent as it continues to gain traction thanks to good adoption of the token when Germany media company Börsenmedien AG acquired Stellar-powered startup SatoshiPay.

Can Bitcoin break $4,000 and stay?

A lot hinges on what Bitcoin can do this week, as it is very close to once again crossing the $4,000 mark after doing so in late February. The major cryptocurrency is managing to hold above the $3,900 mark, which bodes well for its next step to crack the strong resistance.

The last time Bitcoin went over $4,000 it only stayed there for around 24 hours before falling back down towards $3,800. If, however, it manages to break the mark, and stay above it for an extended period of time like other coins have managed to do with their own barriers, it could be a big surge for the cryptocurrency market.

Since the sentiment in the markets have changed, it has been because strong altcoins are able to drive the rest of the top 20, including Bitcoin. It may well be that this current rally from Stellar has enough power to push Bitcoin to a point where it can take over and drive the rest of the market forward.

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Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls

  • Jack Thomas
    🤷 Opinions

    📊👀Ripple’s Market cap, through its XRP token, was ahead of Ethereum at a few stages, but its price prediction has slowed and come under pressure from resistance below the $0.33 mark, and in doing so, Ethereum has pushed higher into second place

Ripple’s Market Cap Further Slips Behind Ethereum as XRP Price Prediction Stalls
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Contents

Ripple, and its native token XRP, have been stuck in a bit of a price vacuum over the past few weeks and months as many other coins have managed to break such marks. Sitting between $0.30 and $0.33, XRP has actually started to even lose ground on Ethereum in terms of market cap.

The third-ranked coin by market cap has in the past managed to over take the smart contracted-based blockchain as it surged in interest and growth in the recent past, but now it has fallen back by nearly $2 billion.

In terms of price prediction, XRP has a lot of hope and positivity surrounding Ripple’s efforts to make it a staple of banks going into the digital age, but it has stalled in its own growth recently, which is surprising seeing as other altcoins have doubled in 2019 alone.

XRP’s sticky situation

There was a small drop in the market last week which was halted when Bitcoin managed to keep above $4,000, but XRP also tested an important resistance. After testing the $0.3000 support, XRP’s price started a short term rebound against the dollar.

The price traded above the $0.3050 and $0.3080 resistance levels. The price even traded above the $0.3100 level, but it faced a strong resistance near the $0.3120 level. Besides, the price even failed to test the $0.3120 level and the 100 hourly simple moving average. A high was formed at $0.3113, and later the price started a downside move.

XRP is especially low currently, testing its floor rather than the ceiling, which has been seen closer to the $0.33 mark, but what is not helping the coin get past any of these resistance marks is its drop in market cap.

Ethereum taking the initiative

It is difficult to tell if Ethereum is making ground on XRP’s market cap based on its own growth – which has not been astronomical in terms percentage gains in the last few weeks – or if it has to do with XRP losing its own worth and value in the eyes of the market.

Ethereum is facing some major changes in the near future, and it could be that early investors are starting to look for a cheap deal as they prepare for the Casper upgrade and the change to Proof of Stake. Ethereum is bound to make big ground when that happens.

Ripple may not admit it, but having XRP as the second ranked coin above Ethereum would be a big deal for them as it adds a lot of legitimacy in the general market and helps in boosting their own worth and value as a company looking for more partnerships.

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