TOP 3 Price Predictions: BTC, ETH, XRP — Can Growth Continue After Sharp Decline?

Price Predictions
Sat, 03/21/2020 - 14:16
Denys Serhiichuk
Do the bulls have enough strength to recover from yesterday's growth for Bitcoin (BTC), Ethereum (ETH), and XRP?
Cover image via www.tradingview.com

The top coins failed to fix their short-term growth. As a result, most of the cryptocurrencies have returned to the red zone. The only exception is Bitcoin SV (BSV), whose rate has increased by 1.58% over the last day.

Top 10 coins by Coinstats

Below are the important data for Bitcoin (BTC), Ethereum ETH), and XRP.

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$112,225,552,375

$6,139.22

49,742,253,146

-7.38%

Ethereum

ETH

$14,475,036,267

$131.37

$17,232,158,175

-9.46%

XRP

XRP

$6,874,297,785

$0.156795

$2,585,670,755

-7.54%

BTC/USD

Yesterday's Bitcoin (BTC) price forecast came true as the correction occurred. However, the daily candle closed above $6,000 which means that the short-term bullish trend is about to continue.

BTC/USD chart by TradingView

Yesterday's sharp decline was considered a correction of the current short-term growth. Looking at the 4H chart, one can see that recent candles have closed with long wicks, suggesting that that buyers are dominating the bears, and have enough strength to push the price higher.

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The more likely projection is that Bitcoin (BTC) could reach $6,400, which is the nearest resistance zone.

At press time, Bitcoin is trading at $6,143.

ETH/USD

As it usually happens, when the rate of Bitcoin (BTC) falls, the price of the chief altcoin travels downwards even faster. The current situation is an exception to the rule. Over the last 24 hours, the rate of Ethereum (ETH) has declined by 7.54%.

ETH/USD chart by TradingView

Even though Ethereum (ETH) has gone down since yesterday, the short-term trend has not changed. Looking at the 6H chart, there is bullish divergence on the Relative Strength Index (RSI) indicator, which is a positive signal. The trading volume also continues to grow, which confirms a continuing rise in price. If the bulls keep pushing the price higher, Ethereum (ETH) might finish the week near the $150 mark.

At press time, Ethereum is trading at $131.57.

XRP/USD

XRP is showing better price dynamics than Ethereum (ETH), but worse than Bitcoin (BTC). Since yesterday, the rate of the third most popular crypto has gone down by 6.36%.

XRP/USD chart by TradingView

The growth of XRP has not been cancelled. According to the daily chart, bearish sentiments are getting weaker. This is confirmed by the declining selling trading volume. Moreover, the blue line of the Moving Average Convergence/Divergence (MACD) indicator is about to cross the red line, which is a bullish signal. All in all, traders might see XRP trading at $0.17 next week.

At press time, XRP is trading at $0.1570.

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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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