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TOP 3 Price Prediction: BTC, ETH, XRP — Regular Correction or Prerequisite for Continued Decline?

Price Predictions
Wed, 02/26/2020 - 15:15
Denys Serhiichuk
Has the correction period already passed for Bitcoin (BTC), Ethereum (ETH), and XRP?
Cover image via www.tradingview.com

There is a decline in the cryptocurrency market. In most cases, while everything is happening as part of the correction, in a number of liquid instruments the trend has already become pronounced. Trade volumes have noticeably increased. The capitalization rate has decreased by 7.7% since Monday, and its current value is $261 Bln.

Top 10 coins by Coinstats

Take a look a the key data for Bitcoin (BTC), Ethereum (ETH), and XRP. 

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$168 734 849 787

$9 251,65

$45 323 806 846

-3,94%

Ethereum

ETH

$26 299 601 396

$239,39

$22 810 140 265

-8,42%

XRP

XRP

$10 679 031 619

$0,244095

$3 163 536 436

-8,31%

BTC/USD 

Bitcoin (BTC) keeps falling after a failed attempt to stay above $10,000. At the moment, the chief cryptocurrency has lost almost 4% in the last day.

BTC/USD chart by TradingView

Taking into account the hourly chart, Bitcoin (BTC) is trading within a descending channel. Based on the trading volume analysis, buyers may retest the top of the channel at around the $9,370 mark.

Related
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However, the scenario for the upcoming days remains bearish and the $9,000 mark is likely to be broken by the end of February,

Bitcoin is trading at $9,186 at press time.

ETH/USD

Ethereum (ETH) is even more bearish than Bitcoin (BTC). The rate of the main altcoin has dumped by 9.22% in the last 24 hours.

ETH/USD chart by TradingView

Ethereum is already oversold on the daily time frame. Sellers are unable to push the price below the support zone. Moreover, there is a bullish divergence on the RSI indicator. As a more likely scenario, traders might expect a rollback to the closest liquidity zone of $240 by the end of the current month.

Ethereum is trading at $231.08 at press time.

XRP/USD

XRP is the biggest loser on our list. The rate of the third most popular coin has dropped by almost 10% in the past day.

XRP/USD chart by TradingView

XRP is also oversold, which could help cause a price pullback. On the daily chart, the coin touched the support line of the Bollinger Bank indicator. Potential short-term growth is also supported by the trading volume. In this case, there is a high chance of reaching $0.24 soon.

XRP is trading at $0.2350 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 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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