Cryptocurrencies Price Prediction: Bitcoin Cash, Litecoin & Ripple – European Wrap 8 May


Bitcoin Cash reclaims $250 as a BCH-based DeFi startup raises $1 million in seed fund

Bitcoin Cash price advanced higher above $250 as BTC/USD surged above $10,000. The price action extended above towards $260 but hit a wall at $258 (intraday high). In the meantime, BCH/USD has adjusted lower to $250 as selling pressure makes a comeback. Generally, the entire cryptocurrency market is bearish during the European session.

BCH/USD price chart

Litecoin Price Analysis: LTC/USD falling within a descending channel

Litecoin price action continues to follow the confines of a descending channel after the recovery in the last week of April stalled under $50. The channel support remains instrumental in slowing down the selling pressure. Also vital to the buyers is the short-term support range; $44 - $45.

 

LTC/USD price chart

Ripple Price Analysis: XRP/USD stays in a range, fails to follow Bitcoin's recovery

XRP/USD has retreated from Thursday’s high of $0.2223 to trade at $0.2152 by press time. The coin has stayed mostly unchanged since this time on Thursday and lost about 1.5% since the beginning of Friday. Ripple’s XRP has been locked in a tight range since the start of the week, despite sharp Bitcoin’s recovery. Now it is the third-largest digital coin with a current market value of $9.5 billion and an average daily trading volume of $2.6 billion.

 

XRP/USD

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Bitcoin Price Analysis: $9200 is the level to beat for the BTC bulls

Bitcoin (BTC/USD) has entered a phase of consolidation after reversing sharply from the late-Saturday spike to $9195.19 highs. The choppy trend is likely to extend until a fresh volatility wave hits the crypto space again. Markets await a strong catalyst to revive the near-term bullish momentum.

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Bitcoin Cash: Downside appears compelling amid bearish technical set up

BCH/USD is seeing aggressive selling over the last hour, after having witnessed a volatile session late Saturday. The coin is teasing an ascending triangle on the hourly chart. Hourly RSI has pierced 50.00 from above, more losses likely?

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XRP/USD remains bearish while below 21-DMA

Ripple’s range trade extends into the seventh day on Saturday. The coin looks promising but above the 21-DMA barrier. RSI on the daily chart holds in the bearish territory. US traders are away, celebrating the Independence Day long weekend. 

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Top 3 Price Prediction BTC, ETH, XRP: Crypto bears return starting out a fresh week

Bears are back amid a fresh selling wave across the crypto board. Bitcoin eyes Thursday’s low amid lack of healthy supports. Ethereum breaches key support, paving way for extra declines. Ripple is ranging in a tight band around 0.1770 so far this Sunday. 

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Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

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