Can Ethereum (ETH) and XRP surpass Bitcoin (BTC) in the short term?
Bulls keep dominating the cryptocurrency market as coins from the top 10 list are in the green zone.
Top 10 coins by CoinMarketCap
BTC/USD
Bitcoin (BTC) has risen by 16%, having set the peak at $48,200.
BTC/USD chart by TradingView
On the daily chart, Bitcoin (BTC) might face a correction to the mirror level at $42,000 as there is almost no liquidity at the moment to keep the rise.
However, one should consider such a move as a short-term decline as part of the long-term bullish trend.
Bitcoin is trading at $45,638 at press time.
ETH/USD
Ethereum (ETH) is showing less growth than Bitcoin (BTC) as the rate of the leading altcoin has risen by only 3%.
ETH/USD chart by TradingView
From the technical perspective, Ethereum (ETH) needs more time to show a price blast as the coin is still in the accumulation phase. In this regard, sideways trading in the range of $1,650-$1,750 is the more likely scenario for the upcoming days.
Ethereum is trading at $1,742 at press time.
XRP/USD
XRP is the second-most growing coin today. The rate of the altcoin has gone up by 6.38% since yesterday.
XRP/USD chart by TradingView
XRP keeps trading in the bullish channel, aiming at the vital $0.50 mark. However, there are low chances for a breakout as the buying trading volume is low enough to fix above the resistance.
XRP is trading at $0.46 at press time.
Read full original article on U.Today
Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
