TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Soars $200 in a Few Hours. Can ETH and XRP Follow the Scenario?

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Mon, 10/21/2019 - 08:15
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TOP 3 Price Predictions: BTC, ETH, XRP — Bitcoin Soars $200 in a Few Hours. Can ETH and XRP Follow the Scenario?

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.

By the end of the weekend, the cryptocurrency market started growing as a result of BTC’s sharp price rise by $200 in a few hours. All the top 10 coins are trading in the green zone. The biggest gainers are Bitcoin Cash and Bitcoin SV, whose rates have increased by 6.12% and 7.16% respectively.

Top 10 coins by Coinstats

The key indicators of the top 3 coins now look as follows:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$148 664 765 616

$8 257,36

$15 244 966 877

4,00%

Ethereum

ETH

$18 930 418 577

$174,91

$6 382 822 726

2,10%

XRP

XRP

$12 585 571 688

$0,291045

$1 648 503 402

0,75%

BTC/USD 

Yesterday, Bitcoin bounced off the support zone at around $8,000 and recorded a sharp growth. The price even got over the $8,300 mark on some exchanges.

BTC/USD chart by TradingView

Although Bitcoin has risen by more than $200 in a few hours, the long-term scenario remains bearish. Over the last month, the leading crypto tried to fix above $8,500 several times. However, it always failed. In this regard, one is likely to see BTC at $8,500 due to the rising trading volume. 

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Taking into account the historical background, the quotes are about to return to the support area soon. Moreover, the RSI indicator is located near the overbought zone, suggesting an upcoming correction.

At press time, Bitcoin is trading at $8,256.

ETH/USD 

Ethereum followed the BTC’s scenario, however, the price rise of the leading altcoin was not so immense compared to Bitcoin.

ETH/USD chart by TradingView

On the 4H chart, the general picture remains bearish, Ethereum returned to the positions it held on October 18. The chief altcoin remains within the descending channel since the vital $180 level was not reached. Furthermore, the trading volume is low, which prevents buyers from pushing the price higher. Summing up, ETH will reach the nearest support at $170 shortly. 

At press time, Ethereum is trading at $175.20.

XRP/USD

XRP has not followed yesterday’s growth of Bitcoin. The price of the third most popular crypto has almost unchanged as it increased by only 0.25% over the last 24 hours.

XRP/USD chart by TradingView

According to the chart, XRP has been located in a sideways trend over the last 7 days. In terms of the nearest short-term scenario, the $0.30 level may be achieved, however, there are no prerequisites for a further price rise. The trading volume level remains low, as the RSI indicator looks downward. All in all, the XRP price might roll back to the closest support at $0.28 soon.

At press time, XRP is trading at $0.2896.

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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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