Cryptocurrencies Price Prediction: Zcash, Ripple & Ethereum – Asian Wrap 08 October

Zcash Price Forecast: ZEC poses 20% downside risk amid steady ETF outflows

Zcash (ZEC) price is trading below $1,300 on Thursday, continuing a steady decline over the past 10 days and slipping from its $1,698 peak on September 27. Grayscale’s ZEC Exchange-Traded Fund (ETF) continues to record consistent outflows, with $8.49 million on Wednesday, suggesting reduced demand following the recent stock split. The technical outlook for ZEC is bearish, with bears focused on a break below the 200-period Exponential Moving Average (EMA) on the 4-hour chart around $1,287.

Ripple and Stellar outlook: XRP and XLM test key support amid rising downside risks

XRP price trades at $1.422 on Thursday after correcting over 6% so far this week. Despite the correction, XRP is holding above the 50-day Exponential Moving Average (EMA) at $1.400 as well as the 100-day EMA at $1.336 and the 200-day EMA at $1.389, which collectively underpin a constructive near-term bias. Despite this supportive positioning, momentum is soft, with the Relative Strength Index (RSI) hovering near 45 and the Moving Average Convergence Divergence (MACD) below zero, hinting that bullish follow-through may be tentative until fresh buying interest emerges.

Ethereum Price Forecast: ETH drops below $2,600 as Tom Lee says BitMine will end buying spree

Ethereum (ETH) treasury firm BitMine Immersion (BMNR) will halt its weekly accumulation of the top altcoin over the next few months. BitMine Chairman Thomas Lee, speaking at the Token2049 conference in Singapore, said that the company will stop buying when its stash reaches 5% of ETH's circulating supply. He noted that BitMine will reach that threshold if it acquires an additional 100,000 ETH.