TOP 3 Price Predictions for BTC, ETH, XRP: Is Bullish Wave Gonna Continue Fast?

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Sun, 02/02/2020 - 17:05
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    What levels could the correction start at for Bitcoin (BTC), Ethereum (ETH), and XRP?

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 is located under the bulls' dominance on the last day of the week. Most of the altcoins are growing faster in value than Bitcoin (BTC).

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Below is crucial data for Bitcoin (BTC), Ethereum ETH), and XRP:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin

BTC

$171,415,440,938

$9,420.67

$29,635,604,284

1.00%

Ethereum

ETH

$20,891,067,325

$190.73

$13,607,421,095

6.20%

XRP

XRP

$11,132,815,280

$0.254840

$2,099,226,289

6.98%

BTC/USD 

Our recent Bitcoin (BTC) price prediction remains relevant as the main crypto touched the liquidity zone for the second time. 

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Looking at the hourly chart, Bitcoin (BTC) is showing bullish price dynamics. After a long wick to the $9,150 area, the coin bounced back.

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Currently, the bulls could push the main crypto to the local resistance zone at $9,573. From that point, sellers might become more active and start a more profound decline below $9,000.

At press time, Bitcoin was trading at $9,403.

ETH/USD

Ethereum (ETH) has had one of the largest gains today. The chief altcoin rose by 6.20% over the last 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Despite the ongoing growth, a bearish divergence has been formed on the Relative Strength Index (RSI). Moreover, the trading volume has continued to grow so much that it could push the rate to new heights. In this case, the more likely scenario is a local correction to the area around $180 without buyers, who could accumulate their efforts for the next bull run.

At press time, Ethereum was trading at $191.06.

XRP/USD

The trading patterns of XRP resemble Ethereum (ETH) as the third most popular crypto has had the best performance out of the top 5 coins. Its price has increased by almost 7% since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Even though XRP is already overbought, its current bull run might continue to the zone above $0.26. On the 4H chart, the Bollinger Bands indicator is moving upward, suggesting that the bulls still have the power to push the rate higher. In this regard, the nearest point where a possible correction might start is $0.2620.

At press time, XRP was trading at $0.2569.

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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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