TOP 3 Price Analysis: BTC, ETH, XRP — Market at Crossroads, Expecting Sharp Move

After a sharp decline in Bitcoin (BTC) and other coins last night, most cryptocurrencies from the top 10 list have recovered lost positions. 

The crucial statistics for Bitcoin (BTC), Ethereum ETH), and XRP are below.

BTC/USD 

Yesterday, during the day, trading volumes were at an average level and the price of Bitcoin (BTC) continued to move in a narrow lateral range with resistance at around $9,800. Late at night, buyers managed to increase volumes, and the price pierced the $9,800 level, jumping to the mark of $9,900.

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At this point, sellers formed a bearish impulse and tried to fail the market below $9,500. In just a couple of minutes, the price fell to around $9,566, but then quickly recovered to the level of average prices. 

Today, supported by small volumes, the price may go down to $9,531 but it is possible that buyers will soon be able to break the resistance at $9,800 and gain a foothold above the psychological level of $10,000. It is possible that the price of Bitcoin (BTC) will be able to set a new annual maximum in the area of ​​$10,600 this week.

Bitcoin is trading at $9,724 at press time.

ETH/USD 

The nightly surge in the price volatility of the flagship cryptocurrency caused unpleasant nervousness in the altcoin market as well. Last night, after the price of Ethereum (ETH) touched the resistance at $247 and tested $250, bears formed such a powerful impulse that they broke through the support of $222.98 and stopped at $215. This single impulse wasn't able to hold the price down for long as it immediately returned above the two-hour EMA55.

Today, the ETH/USD pair might continue to consolidate for a while in a narrow range, in the area of ​​average prices. During the day, a drawdown to the area of ​​$233 is possible. However, the price may soon be able to break through the resistance at $247 and continue to grow to the $265 - $275 zone. The relatively high trading volume is a reason for the upward movement.

Ethereum is trading at $242.80 at press time.

XRP/USD 

Yesterday, the XRP price calmly consolidated all day right at the two-hour EMA55 level, and during the Asian session, it experienced a shock, falling into the purple downtrend corridor in a matter of minutes. Bears held the price at $0.171. Support at $0.17 limited the bearish momentum and the pair returned to its previous level, in the area of average prices.

Today, XRP may go down to the support at $0.20, but soon growth in the resistance area of $0.213 might resume and perhaps this week the pair will be able to gain a foothold in the $0.220 area.

XRP is trading at $0.2019 at press time.