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TOP 3 Price Predictions for BTC, ETH, and XRP: Is the Market Ready for a Large Drop?

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  • Denys Serhiichuk
    📈 Price Predictions

    Should we expect a new bottom for Bitcoin (BTC) and the altcoins soon?

TOP 3 Price Predictions for BTC, ETH, and XRP: Is the Market Ready for a Large Drop?
Cover image via www.tradingview.com

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.

Bitcoin (BTC) fell below $8,600, but the bearish sentiment has intensified with the continuing decline. Altcoins were also not able to maintain the growth from earlier this week, leading to a decrease in price by more than 1 percent.

Top 10 coins by Coinstats

Here is how Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) are looking today:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$157,278,539,699

$8,715.12

$18,891,947,413

-1.78%

Ethereum

ETH

$20,283,945,218

$186.86

$7,763,990,974

-1.40%

XRP

XRP

$11,666,489,170

$0.269443

$1,335,007,707

-2.63%


BTC/USD 

Our previous price prediction for BTC almost justifies itself as the rate is approaching the $8,400 mark. This cryptocurrency is continuously facing a correction, and is having to test out the support area at the moment.

BTC/USD chart by TradingView

Looking at the 4H chart, the quotes are having to test the support area, where the upper border of the downward channel is located. As long as the asset is above the $7,670 mark, pressure from buyers will remain. A test of the support line on the relative strength index (RSI) indicator supports an upswing soon.

At press time, BTC is trading at $8,597.

ETH/USD

ETH is trying to withstand the overall market decline; however, the rate for this altcoin has dropped almost 1% over the last 24 hours.

ETH/USD chart by TradingView

Analyzing the chart, the quotes are clamped within the "triangle" pattern. On the one hand, this indicates the presence of uncertainty and decreasing volatility. Yet, when one of the boundaries of the model is broken, a strong movement in the direction of a breakdown can be expected. As a short-term trading option, the price is expected to go beyond the lower border of the triangle and fall to the $150 mark. Confirmation of this decline will be a price fixation of about $185. 

At press time, ETH is trading at $184.62.

XRP/USD

Since the beginning of November, XRP has continues its downtrend movement. Since last week, the rate for the coin has declined by almost 10%.

XRP/USD chart by TradingView

Looking at the 1D chart, the ongoing drop has not yet reached its peak. The moving average convergence divergence (MACD) indicator is bearish, which supports the fact that the local bottom will be reached sooner than later. 

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In this particular case, XRP might decrease to $0.25, a level that acted as a support zone for a significant amount of time. Traders should expect it to happen through the end of the month. 

At press time, XRP is trading at $0.2640.

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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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  • Alex Dovbnya
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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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Contents

San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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