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TOP 3 Price Predictions for BTC, ETH, XRP: Endpoints of the Bearish Market?

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  • Denys Serhiichuk
    📈 Price Predictions

    Has the market finally reached the bottom for the cryptocurrencies?

TOP 3 Price Predictions for BTC, ETH, XRP: Endpoints of the Bearish Market?
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.

The cryptocurrency market has kept its bearish price dynamics since the summer of 2019. A few days ago, the price of Bitcoin (BTC) suffered another price drop to the $8,000 level, which is where it is currently situated. As usual, the altcoins followed the trend of the top crypto. 

Top 10 coins by Coinstats

Below is the main data for Bitcoin, Ethereum, and XRP:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$145,854,339,131

$8,076.98

$21,270,131,644

-0.11%

Ethereum

ETH

$19,255,587,387

$177.27

$7,456,349,925

-0.08%

XRP

XRP

$10,993,111,720

$0.253883

$1,431,023,776

1.94%

BTC/USD 

Our earlier price prediction for BTC has more than justified itself, as the rate has not reached the $8,200 mark. Instead, the price of BTC has declined to the $8,000 mark. 

BTC/USD chart by TradingView

Yesterday morning, the bears pushed the upper border of the corridor in an attempt to test the support level at $7,960. The relative strength index (RSI) on the 4H chart indicates oversold conditions. In other words, BTC could jump to the $8,400 mark before falling further in price.

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A bounce back above the aforementioned level might happen this week. 

At press time, BTC is trading at $8,076.

ETH/USD

Like BTC, Ethereum (ETH) has also facing a decline. However, it is more likely that ETH will return to the previous levels faster than BTC.

ETH/USD chart by TradingView

According to the chart, there is bullish divergence on the RSI. This is confirmed by the moving average convergence divergence (MACD) indicator, which is about to change the local trend to a bullish one. However, one cannot deny the possibility of a continuing drop in price, with the closest scenario reaching $177.

At press time, ETH is trading at $174.83.

XRP/USD

When the market mood was neutral, XRP (XRP) was going down. As of today, however, the price has shot up by almost 2% in the last 24 hours. 

XRP/USD chart by TradingView

The current rise in price could be considered a manipulation rather than the start of a possible reversal. The volume remains low, which a prerequisite for a continuing decline. The price may touch $0.2450, which will finish the creation of a "triangle" pattern. Traders may see the aforementioned scenario through the end of November.

At press time, XRP is trading at $0.2495.

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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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