TOP 3 Price Prediction: BTC, ETH, XRP — Uncertainty in Market Continues

📈 Price Predictions
Wed, 01/22/2020 - 21:12
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The cryptocurrency market has partially restored its position. Meanwhile, the altcoin market today is mixed. Some of the top 10 coins are located in the green zone, while others are in the red. 

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The key data below for Bitcoin (BTC), Ethereum (ETH), and XRP indicate what's to come.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$157 602 979 990

$8 671,44

$24 584 873 246

0,23%

Ethereum

ETH

$18 419 910 476

$168,40

$9 910 073 669

0,11%

XRP

XRP

$10 305 414 349

$0,235952

$1 623 122 240

-0,19%

BTC/USD 

The technical picture of Bitcoin (BTC) has not changed much since Monday. For a moment, there was an attempt to break the $8,550 level. 

BTC/USD chart by TradingView
BTC/USD chart by TradingView

However, the downward movement under pressure from the bears fit into the framework of the current volatility and it was bought back quickly enough.

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Over the past three days, local consolidation has formed. All in all, the strategy does not change, since for a longer time period, the trend has persisted and the line of least resistance is still directing upwards.

Bitcoin is trading at $8,649 at press time.

ETH/USD

Ethereum (ETH) quotes remain trading sideways. Based on an analysis of the trading activity of participants, it can be assumed that interest in purchases is held by small speculators, while large buyers still prefer to stay away.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the hourly chart, the chief altcoin is likely to decline in the short-term. The line of the RSI indicator is going down, confirming the ongoing dominance of buyers. Regarding the nearest price forecast, traders might expect the coin to be located at around the $165.50 level.

Ethereum is trading at $166.96 at press time.

XRP/USD

XRP is trading without significant changes. After a rebound from the support level, quotes have remained sideways.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Even though XRP has continued a sideways trading trend for a few days, it will face a decline shortly. The rate of the coin has decreased by almost 2% over the last day. What is more, the MACD indicator has just switched to a bearish trend. Summing up, the more likely scenario is a drop to the closest support of $0.23.

XRP is trading at $0.2344 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 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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