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Cryptocurrencies Price Prediction: Ripple, Swipe and Bitcoin – European Wrap 29 July

Cryptocurrencies Price Prediction: Ripple, Swipe and Bitcoin – European Wrap 29 July
FXStreet TeamFXStreet TeamFXStreet

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP in a league of its own as BTC and ETH  pull back

Bitcoin price is currently showing signs of retracement after a second attempt to rally higher. Ethereum price tried following in BTC’s footsteps but lacked momentum. On the other hand, Ripple price is paving its way, but it might fall in line soon.

BTC/USDT 6-hour chart

Ethereum price tries to imitate BTC but falls short of momentum

Ethereum price attempted to form a higher high above the July 26 swing high at $2,433 but failed. This failure reveals that ETH was overbought and due for a retracement down to $2,174 or $2,018. While a pullback seems likely, market participants should note that a breakdown of $2,018 will invalidate the bullish thesis.

ETH/USDT 4-hour chart

Institutional interest in Bitcoin is on the rise, BTC may test $50,000

An increasing percentage of the BTC supply has not moved in over a year, and there is a decrease in Bitcoin available on exchanges. The drop in the Grayscale Bitcoin Trust shares (GBTC) discount has revived institutional demand in Bitcoin.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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