TOP 3 Price Predictions: BTC, ETH, XRP β€” Market Failed to Reach the Key Levels. Are Bearish Tendencies Coming Back?

  • Alex Morris
    πŸ“ˆ Price Predictions

    The market mood has completely changed in a day. Is it a regular correction or something more serious?


TOP 3 Price Predictions: BTC, ETH, XRP β€” Market Failed to Reach the Key Levels. Are Bearish Tendencies Coming Back?

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.

Contents

If yesterday only Bitcoin was growing while other coins were going down, today, the main cryptocurrency is not an exception from others, as the whole market is facing correction.

Ripple remains the biggest loser among the top 3 with its rate declining by 6% over the last 24 hours. Against the background of the fall, the total market cap has lost around $5 billion, while BTC’s domination keeps going up and now is 54.6%.

BTC/USD

As it always happens on the crypto market, after a fast growth, a rollback is supposed to occur. Bulls are still dominating on the market, as today’s correction is nothing critical; buyers are just fixing their profit to buy deep again.

BTC/USD chart by tradingview

At the moment, one needs to pay attention to the support level at $4,780, the breakdown of which will indicate a resumption of the decline.

Concerning the short-term prediction, the quotes are trading in the ascending channel which started on April 16. If bears have enough strength to push the price below $5,230, a drop to the $5,000 mark is likely to happen.

The price of BTC is trading at $5,454 at the time of writing.

ETH/USD

Today’s rollback has affected Ethereum much more than the main cryptocurrency; however, it has influenced neither its market cap nor trading volume.

ETH/USD chart by tradingview

Technical analysis of Ethereum on the 1-hour chart indicates the formation of the Triangle pattern. In the short term, we should expect a rebound from the lower limit of the model near the $160 area. The continuation of growth should occur to a potential target of $175.

πŸ‘‰MUST READ Ethereum Price Performance 2019-2020: 10 Realistic and Fantastic ETH Price Suggestions from Experts
Ethereum Price Performance 2019-2020: 10 Realistic and Fantastic ETH Price Suggestions from Experts

A further increase of ETH’s rate is also supported by the RSI indicator which is currently located at its lower boundaries.

The price of ETH is trading at $164.33 at the time of writing.

XRP/USD

Even though Ripple has its own patterns and does not always follow the market mood, today’s fall was an exception from the rule. XRP is among the top losers out the most popular cryptocurrencies, as it has lost more than 6% of its price over the few hours.

XRP/USD chart by tradingview

In terms of technical analysis, the quotes broke an essential level at $0.30 and the lowest point it touched was $0.2850. Unfortunately, according to the 1-hour chart, there is no good news for Ripple regarding its potential growth. In order for the rate to go up again, it needs to break the green ascending line signaling bearish dominance. If that does not happen, the price could fall to $0.28, which is possible, as trading volumes are quite low compared to the previous days.  

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Ripple Priсe Prediction for the End of 2019 – What to Expect from XRP?

The price of XRP is trading at $0.2996 at the time of writing.

Cover image via 123rf.com
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XRP/USD Price Prediction β€” Facing the Road to $0.5: Can Bulls Keep It Up?

  • Denys Serhiichuk
    πŸ“ˆ Price Predictions

    Almost all attention has been paid to πŸ’°Bitcoin. But what about Ripple: Is it still an attractive πŸ”investment?


XRP/USD Price Prediction β€” Facing the Road to $0.5: Can Bulls Keep It Up?

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.

Although almost the whole cryptocurrency market is green today, Ripple is not showing its best, as its rate has gone up only by 3%, while the prices of BTC or ETH have increased much more.

However, there is a relatively positive news background for XRP holders. Thailand’s oldest bank, Siam Commercial Bank (SCM), made it clear that it would use Ripple technology for cross-border transfers.

Ripple chart

Ripple is one of those coins that has grown from the bottom, although it is quietly discussed in the news. It’s not worth grabbing XRP in hopes of a fast pump; it’s a tough medium term that can make a profit of 20% or more in one moment.

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The technical analysis confirms the news background.

XRP/USD 30-min chart

As we predicted today in our forecast, XRP keeps moving up slowly; however, one should expect a slight decline shortly. On the 30 minute graph, the coin has been under bearish dominance since the middle of May; the quotes have declined by around 20%. All this means that the bottom has not been touched yet, and XRP can still go down to the nearest support at $0.38.

XRP/USD 4-hour chart

On the 4-hour chart, the situation looks more promising, and Ripple has the potential to go up. There are a few reasons for such a scenario. The MACD is located near its bottom points, meaning that sellers are running out of steam. Thus, RSI is neutral, suggesting that bulls are about to come back soon.

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If the downtrend line formed on May 16 is broken, Ripple might reach $0.40 until the end of May. In this regard, the increasing trading volume serves as support for such a price movement.

The price of XRP is trading at $0.3884 at the time of writing.

Cover image via 123rf.com
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