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02/10 16:19

Bitcoin, Ethereum and XRP Price Predictions What

Bitcoin, Ethereum and XRP Price Predictions

What to expect this week!

The cryptocurrency market has continued to show bearish price action this month. This has caused the top cryptocurrency tokens to fall below their important support levels in a short period of time. Notably, market leaders Bitcoin, Ethereum and Ripple have also experienced similar price action, highlighting the increase in bearish sentiment.

By assessing the current market trends, top investors and institutions are closely watching the price action of these crypto tokens and are worried about another possible crash. Are you planning to invest in these tokens but are concerned about their short-term predictions? Read now to know the possibilities!

Bitcoin (BTC)

The price of Bitcoin has fallen by about 1% in 24 hours, with a trading volume of $34.188 billion. However, it has added 3.38% of the portfolio in seven days and has gained 3.89% this year. With a market cap of $1.923 trillion, it has a market dominance of 60.81%.  

The Moving Average Convergence Divergence (MACD) shows a steady red histogram, with its average indicating a continuous decline.  Furthermore, the EMA 50/200-days shows a similar trend in the Bitcoin price chart.

If the bulls sustain the price of Bitcoin above $96,000, it will be ready to head towards the $100,000 ceiling in the coming period. Conversely, negative price action could lead it to a crucial low of $92,000.

Planning to invest in BTC tokens but confused about questions like “how high will Bitcoin go?” Read our latest Bitcoin price prediction and unravel the long-standing mystery!

Ethereum (ETH)

Although the Ethereum price has risen by more than 5% in seven days, it has fallen by 18.56% in the past 30 days, with a year-to-date (YTD) return of -20.87%. This indicates an increase in bearish price action for the ETH coin price in the cryptocurrency space.

The Relative Strength Index (RSI) continues to hover in its oversold zone on the 1D timeframe. Moreover, the SMA indicator keeps acting as resistance in the Ethereum price chart. This hints at an increase in negative sentiment.

 Assuming a bullish trend reversal, in this case, ETH price might retest its upper limit of $2,870. On the other hand, if bears maintain dominance, this might pull the price towards its important support level of $2,530.

Are you one of the many who are wondering whether ETH price will hit new highs in this year’s altcoin season? Read Ethereum price prediction now!

Ripple (XRP)

Ripple price has dropped by 4.11% in 24 hours with a trading volume of $5.342 billion and a change of +34.15%. However, in the past seven days, it has gained 6.98% and a year-to-date return of +15.21%. With a market cap of $138.416 billion, it has been ranked 04th in the market.

EMA 50-day shows a bearish crossover on the daily timeframe. On the other hand, the MACD indicator has been declining continuously in the red histogram and its average has also experienced a similar trend. This highlights the rising bearish sentiment.

 If the bulls regain momentum, the price of the XRP cryptocurrency token could retest its overhead resistance at $3.00. Conversely, a sustained bearish action could pull the price towards lows of $2.00 in the future.

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