Cryptocurrencies Price Prediction: Bitcoin, Ripple & Monero – American Wrap 7 May

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Bitcoin Price Analysis: The bulls are in touching distance of 10K

Ahead of the big halving event next week the bitcoin bulls are out in full force. The price is trading 7% higher on the session and a stone's throw away from the 10K level.

Looking closer at the chart we can see that the black trendline has been taken out in a very classic technical move. It could be retested in the medium term if the 10K level acts as a resistance zone but only time will tell.

Ripple Price Analysis: A break of this chart pattern could give us some great clues

Ripple trades higher on the session but is seriously lagging behind the digital gold that is bitcoin. There is now a chart pattern that has developed on the hourly chart below and a break of this pattern could help us determine the future path of XRP.

The pattern has a flat bottom which is now a support zone at 0.2079. If this level breaks the price could hit lower level and the next meaningful support lies at the psychological 0.20 level. On the topside, the price will need to break the patterns trendline to move higher and the next target would be the wave high of 0.2361.

Monero Price Analysis: XMR/USD jumps above daily SMA200, $63.00 within reach

Monero (XMR) is one of the best-performing cryptocurrencies out of top-20 on Thursday. The coin has gained 6% since the beginning of the day and hit the intraday high at $61.61. Monero is the 14th largest digital asset with the market capitalization of $1 billion and an average daily trading volume of $117 million.

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XRP extends recovery as on-chain activity grows

Ripple (XRP) ticks up and trades around $1.13 at the time of writing on Tuesday. This rebound aligns with a broader recovery in the cryptocurrency market, attributed to reports that mediators between the United States (US) and Iran are seeking a 10-day cessation of strikes to find a way back to the signed Memorandum of Understanding (MoU).

Ethereum Price Forecast: ETH continues July uptrend with 20% rise after triggering buy signal

Ethereum (ETH) has gained 3% on Tuesday, extending its July gains above 20% after key on-chain indicators highlighted a resumption of buying activity. The strong performance so far in July comes a few days after ETH triggered the Market Value to Realized Value (MVRV) Buy signal. ETH has been up by roughly 22% since the signal.

Chainlink becomes top 20 best performer, 3 reasons behind the move

Chainlink (LINK) has become the best-performing asset in the top 20 this week, leading every other major cryptocurrency. The cryptocurrency jumped 10.18% to $8.71, its highest level since early June. Three major factors explain the double-digit rise over the past week.

Crypto Today: Bitcoin, Ethereum, XRP extend rebound amid returning institutional capital inflows

Cryptocurrency prices extend a broad recovery, led by Bitcoin (BTC), trading above $66,000 at the time of writing on Tuesday. Ethereum (ETH) remains bullish above $1,940, after logging four straight days of gains. Meanwhile, Ripple (XRP) hovers around $1.13, building on the reclaimed $1.10 critical level.

Bitcoin’s potential recovery in the second half hinges on these 4 catalysts

Bitcoin (BTC) has fallen over 34% in the first half of this year as the King Crypto failed to capitalize on a good semester for risk assets despite the woes from the Iran war.