Analysis

Bitcoin, Ethereum and Ripple price prediction: BTC, XRP readying to overtake ETH crypto lead

  • Bitcoin shows a pattern that hints upside in the short-term
  • Ethereum still outperforming Bitcoin, although BTC might overtake soon

BTC/USD dips but still in safe ground

BTC/USD daily chart

We pointed at $10800 yesterday as the price level that Bitcoin bears need to drill to accelerate the falls. BTC went below it, triggering a fall of nearly $1000 during the American session. There were some panic moments when bulls feared heavy losses, but at the end, it was just a scare. The move was technically healthy: adding volatility, confirming important supports and giving room for the change of direction in the moving averages.

MACD is the indicator that has benefitted the most from yesterday's price action. It has now enough room to face an upward cross in the best conditions. The current pattern backs up a possible change of trend in the upcoming days.

Directional Movement Index shows mild divergence after yesterday's BTC price action. Buyers went up while sellers retreated. There is still some way to go until the equilibrium level, and that backs up a lateral but bullish scenario that should favor new position taking.

Ripple, in a similar situation then Bitcoin, but a few steps ahead

XRP/USD 4H chart

XRP/USD has broken out of the triangle that was containing it and continues with a lateral but positive move. In the last few weeks, Ripple has been leading the Crypto board, stepping ahead of Bitcoin and other digital currencies. Ripple price action is definitely something to follow as a point of reference for the rest of cryptos.

MACD shows a slightly divergent profile. Its current position backs potential bullish action.

Directional Movement Index indicates few differences between buyers and sellers amount. Next hours might see a cross that would put buyers in an advantage situation.

ETH/USD 4H chart

In the Ethereum chart, MACD has a very different profile than other Cryptos. ETH is in a bullish trend and it's probable that it will now have to correct a bit after big bullish strides. The indicator shows a certain separation between the average and the signal, around the 0 level. We might expect retracements in the upcoming sessions.

Directional Movement Index is following perfectly the price, with sellers at high levels and buyers beginning to show up at the trendline area. Those buys might be premature considering the possible cycle change in relation to Bitcoin.

ETH/BTC 4H chart

MACD is showing exhaustion in this chart, with divergence in the last bullish ride. Any upward move will increase the divergence and, therefore, the possibilities of Bitcoin takes the advantage again.

Directional Movement Index shows meaningful buying levels, with sellers in a clear disadvantage despite being slightly divergent. It is not clear yet when that might happen, but Ethereum's advantage over Bitcoin is about to get to its end.

Conclusion

It is a good moment to think about taking long positions in Bitcoin and Ripple, always taking into account the big risks that involve an investment in such volatile and sensible assets. Any wrong updates on regulation or other industry matters and you might get caught in the wrong turn. That said, several countries have toughened their legislation on Cryptocurrencies during the last few days, but less has been said about the meaningful words of an important Swiss official, who showed intentions of the alpine country of implementing the Blockchain technology as a structural change.

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