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TOP 3 Price Predictions: BTC, ETH, XRP — Has the Correction Period Passed Already?

Price Predictions
Mon, 02/17/2020 - 13:35
Denys Serhiichuk
Searching the levels of Bitcoin (BTC), Ethereum (ETH), and XRP to bounce off
Cover image via www.tradingview.com

The crypto market continues its correction wave. Bitcoin (BTC), as well as other altcoins from the top 10 list, keep located in the red zone. Bitcoin SV (BSV) keeps being the main loser, going down by more than 10% over the last day.

Top 10 coins by Coinstats

The main information on Bitcoin (BTC), Ethereum (ETH), and XRP.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$176 189 103 161

$9 668,97

$47 434 238 461

-2,69%

Ethereum

ETH

$27 427 389 481

$249,94

$27 076 743 836

-2,52%

XRP

XRP

$12 200 953 772

$0,279143

$4 093 459 997

-8,32%

BTC/USD 

Bitcoin (BTC) could not fix above the $10,000 mark and went below even $9,600, having updated the local bottom. The rate of the main crypto has dereased by 2.69% over the last day.

BTC/USD chart by TradingView

However, Bitcoin (BTC) is likely to bounce back from the current area as the current correction is just a pause before a move to $11,000.

Related
Bitcoin (BTC) Dominance Pullback Crashing Altcoins – Is This End of Altcoin Season?

Moreover, the 'Golden Cross' is about to happen soon as MA 50 is about to cross MA 200 on the daily chart. At the moment, there are no prerequisites for a deep correction below $9,000.

Bitcoin is trading at $9,680 at press time.

ETH/USD

Ethereum (ETH) is facing much bigger price loss than Bitcoin (BTC). The rate of the second most popular coin has dropped by more than 5% over the previous day.

ETH/USD chart by TradingView

Ethereum (ETH) might have finished the correction period and ready to update the previously reached resistance levels. It is confirmed by the RSI indicator that has got out from the overvought area. In addition, the trading volume of sellers is declining, suggesting their weakness to push the rate lower. In this case, the crucial point of $300 should be achieved by the end of February.

Ethereum is trading at $250 at press time.

XRP/USD

XRP is showing completely different price dynamics. The rate of the coin has lost the most compared to Bitcoin (BTC) and Ethereum (ETH). 

XRP/USD chart by TradingView

XRP is finishing its long bull run and about to face a more profound correction. The blue line of the MACD indicator has crossed the red one, confirming the bearish sentiments. In this regard, the nearest support that might be attained is the yellow range zone between $0.23-$0.25 where the most of trading volume is concentrated.

XRP is trading at $0.2722 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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