TOP 3 Price Prediction: BTC, ETH, XRP — Decline to Continue After Ongoing Consolidation?

Price Predictions
Tue, 05/12/2020 - 14:01
Denys Serhiichuk
How long can the growth of Ethereum (ETH) and XRP last?
Cover image via www.tradingview.com

The situation has changed slightly over the past day. While Bitcoin (BTC) continues trading sideways, altcoins are not losing their chances and are showing good price dynamics. Binance Coin (BNB) is the top gainer from the top 10 list.

Top 10 coins by Coinstats

The data for Bitcoin (BTC), Ethereum ETH), and XRP has changed in the past 24 hours in the following way.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$161 297 778 975

$8 777.79

$52 012 611 097

-1.18%

Ethereum

ETH

$21 082 731 581

$190.11

$18 800 735 395

0.91%

XRP

XRP

$8 710 469 533

$0.197459

$2 369 234 260

0.11%

BTC/USD 

Yesterday, Bitcoin's halving occurred on the 630,000th block. The reward for the mined block was reduced by one half and now amounts to 6.25 BTC. The day before the halving, the Bitcoin price fell about 18%, and on the day of the halving, volatility decreased. During the day, the price rose 8% over several hours and set a local maximum at around $9,200. In the evening it fell by more than 10% and tested the $8,200 level.

BTC/USD chart by TradingView

Now there is some stabilization of the price with buyers recovering the pair to the hourly moving average EMA55 in the area in ​​which the POC indicator line runs at around $8,833.

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If the average price level can be overcome, then the recovery will continue to the green trend line.

Bitcoin is trading at $8,712 at press time.

ETH/USD 

Yesterday afternoon, trading was a bit shaky, at increased volumes, and the price of Ethereum (ETH) rolled back to the area of $175.

ETH/USD chart by TradingView

Currently, buyers have returned the pair to equilibrium and are trying to recover above the $192.57 level. If they break this resistance, a re-test of the downtrending purple trend line is possible before the end of the day. In case bears resume pressure, the pair will continue to roll back to the target support level of $168.70.

Ethereum is trading at $189.89 at press time.

XRP/USD 

Yesterday, at the end of the day, the XRP price set a minimum at $0.184 and, as of this morning, the pair has already recovered to the $0.194 area.

XRP/USD chart by TradingView

During the day, growth may continue to the psychological mark of $0.20 as the trading volume is high enough. If sellers limit the price increase at this level and start new sales, the pair will roll back to the $0.188 zone.

XRP is trading at $0.1970 at press time.

 

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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 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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