Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – European Wrap 1 August

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC produces fresh lows at the start of new week

Bitcoin (BTC) price ended its rangebound movement as it slipped nearly 3% between late July 31 and early August 1. The sweep of key lows could trigger a rally in later in the week, but investors need not hold their breath. The aura of this dormancy that penetrated altcoins, including Ethereum (ETH) and Ripple (XRP), could likely end if BTC makes a strong recovery rally to $30,000.

Bitcoin (BTC) price is edging west, with neither bulls nor bears showing the upper hand. The king of crypto is showing signs of diminishing volatility that puts it at a standstill tethered to the 100-day Exponential Moving Average (EMA) at $29,349.

With Ripple’s victory tainted, what’s next for XRP price?

After a historic win in the SEC vs. Ripple lawsuit, the crypto-based payments company was in the safe zone. The recent proceedings in the SEC vs. Terraform Labs case have brought the SEC vs. Ripple’s victory into question.

Due to the developments over the last 24 hours, XRP price could easily drop and undo last month's gains if the Securities & Exchange Commission (SEC) decides to appeal the ruling in Ripple’s lawsuit. In the event that the SEC appeals Judge Analisa Torres’ decision on the XRP token, its holders could be in trouble. XRP price is down 28% from the SEC vs. Ripple lawsuit decision-based rally that propelled it by 100% to $0.965 on July 13.

Ethereum buying spree likely in August as DAI whale holdings climb higher

Alt season ended with the close of July, however, Bitcoin price action is disappointing for market participants. Heading into August, BTC price is below the $30,000 psychological level, and analysts are looking for altcoins and stablecoins where participants are pouring in their capital as “dry powder” for future buys.

Analysts at crypto intelligence tracker Santiment have noticed a relationship between a rise in DAI stablecoin holdings of whales and Ethereum price rallies. If the pattern repeats itself, ETH price is likely to rally in August. Crypto markers noted a decline in whale purchases of stablecoins in July. While large wallet addresses accumulated Bitcoin and Ether, they were less likely to replace their stablecoin holdings. Interestingly, there has been a turning point in Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and DAI.