TOP 3 Price Analysis: BTC, ETH, XRP — Which Top Coins to Perform Best in Short-Term?

Price Predictions
Tue, 06/16/2020 - 14:19
Denys Serhiichuk
Can Bitcoin (BTC), Ethereum (ETH), and XRP keep growing together?
Cover image via www.tradingview.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.

The cryptocurrency market has continued the growth it started yesterday when Bitcoin (BTC) and other coins recovered to their previous levels.

Top 10 coins by Coinstats

The vital information on Bitcoin (BTC), Ethereum (ETH), and XRP is below.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$175,697,050,720

$9,545.46

$24,300,852,757

4.77%

Ethereum

ETH

$26,251,734,814

$235.71

$8,989,322,935

5.68%

XRP

XRP

$8,500,831,737

$0.192075

$1,248,243,097

4.23%

BTC/USD

Yesterday morning, the bears pierced the daily EMA55 and set the June low at $8,900. However, there were no large sales anymore, and at medium volumes, the price of Bitcoin (BTC) started to recover quite quickly.

BTC/USD chart by TradingView

By the end of the day, buyers were able to return the price to $9,441, where the pair consolidated in a narrow lateral range at the end of last week. Today, early in the morning, the price already managed to test $9,600, but at the moment the recovery has slowed down. If bulls continue the offensive, a test of the resistance at $9,800 is possible.

Bitcoin is trading at $9,521 at press time.

ETH/USD

Ethereum (ETH) has recovered from the fall it experienced over the weekend even faster than Bitcoin (BTC). The rate of the leading altcoin has increased by 6.22% over the past 24 hours.

ETH/USD chart by TradingView

On the 4H chart, you can see a correction wave where Ethereum (ETH) bounced off the support at $220. The ongoing growth is not supported by trading volume, which means that the rise is rather a retest of the resistance to continue the decline. In this regard, it may reach $240 in a few days. 

Ethereum is trading at $235.02 at press time.

XRP/USD

Yesterday, XRP set a June low near the upper border of the downward channel but was able to return to the average price range by the end of the day.

XRP/USD chart by TradingView

Now the pair is desperately trying to gain a foothold at the two-hour EMA55 level and if buyers can continue to grow, today the price may reach the psychological mark of $0.20. This support will hold the price sideways for some time. If buyers don't manage to continue growth today, then orange support at $0.190 could save the pair from a deep pullback.

XRP is trading at $0.1923 at press time.

 

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 makes 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, can be contacted at denys.serhiichuk@u.today.


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