Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto space takes a breather as Christmas rally takes a pause

  • Bitcoin price undergoes a technical rejection as investors book some profit. 
  • Ethereum price action keeps respecting the bullish triangle with a test on the ascending trend line.
  • XRP has investors taking profit after breaking above the 55-day SMA. 

Bitcoin price is undergoing a fade to the downside as investors cash in on the Christmas rally. Ethereum price, in its turn, is correcting after bulls got rejected from breaking out of a triangle on Tuesday. Going into Christmas, XRP should see bulls defending the 200-day Simple Moving Average (SMA) as investors book profits after breaking above the 55-day SMA earlier in the Asian session this morning.

Bitcoin price undergoes correction after rejection on the monthly S1 support

Bitcoin (BTC) price was in a nice rally going into Christmas but the trend looks to be hitting a curb at the time of writing as investors book profits and BTC price starts to fade and pull-back. BTC bulls tried to break above $50,155 but the advance got checked, and the opening price this morning during the Asian session already pointed to some sharp profit-taking. Expect BTC to look for support now while bulls hope to keep price action above $50,000 going into the weekend. 

BTC bulls will need to watch out as liquidity starts to die down going into the holiday season. Expect the first level of support at $47,565 where the 200-day SMA lies, although it may not provide that much support given it has been  chopped up by price action breaking above and below multiple times over the last few days. Instead, look for $47,065 to do the trick as this has held some importance in the past and provided support for higher lows over recent days.

BTC/USD daily chart

BTC/USD daily chart

Expect bulls to try and reclaim $50,000 going into the last week of trading this year, but with profit-taking and investors pulling their positions during the holidays, expect to see more selling pressure that could trigger another leg lower BTC price. That would bring $44,088 and $43,040 back into play with the monthly S2 support level in the middle of that range. By then the Relative Strength Index (RSI) is also likely to be firmly in oversold territory.

Ethereum price under short-term pressure with failure to uphold $4,000

Ethereum (ETH) price is still trading in a bullish triangle but bulls have failed to deliver a strong signal to the markets because of their inability to consolidate above $4,000. Instead, ETH price is fading to the downside, with price action further drifting away from $4,000. For now, the sloping side of the bullish triangle (dotted ascending blue line) is keeping price action in play and is still performing a squeeze to the upside. But it is hanging by a thread as investors are gently starting to pull out of their investments just before the start of the holiday season. 

ETH prices could see more downward pressure as investors continue with their profit-taking. A break below the ascending trend line would accelerate the trend of investors pulling out of ETH, resulting in more downside towards $3,687. This level kicked off the bullish triangle and will be a profit target for short sellers to squeeze bulls out of their initial entry position. If more headwinds arise or  cryptocurrencies experience more divestment before the holidays, even $3,391 could be on the cards, which would mean a 14% devaluation.

ETH/USD daily chart

ETH/USD daily chart

If the bullish triangle plays out, expect price action to bounce off the sloping bottom edge  and for bears to get pushed up against $4,200. A punch through that level could see a breakout higher as sellers capitulate. Although bulls would quickly face the 55-day SMA at $4,300, expect to see an accelerated push to the upside as thin liquidity enables them to quickly cover significant ground towards $4,465.

XRP price caught between two technical price levels

Ripple (XRP) price investors are taking some profit from other cryptocurrencies after breaking above the 55-day SMA at $1.00. This should come as no surprise as XRP price action already rallied 23% in the last few days. Investors will want to cash in and diminish some risk over the holiday period.

XRP/USD daily chart
XRP/USD daily chart

Expect XRP price to be supported by the 200-day SMA at $0.95, which already has proven critical at previous highs and lows where it got supported or rejected on previous attempts. This way, XRP has the best outlook for a fresh start that favors bulls going into the new year. Expect a further continuation to lead to a break above the 55-day SMA, and then target $1.10, with the monthly pivot as a place for the second leg in the rally to pause.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Arbitrum community opens vote for 200 million ARB Gaming Catalyst Plan proposal

Arbitrum community opens vote for 200 million ARB Gaming Catalyst Plan proposal

Arbitrum community opened a vote for its Gaming Catalyst Program (GCP) to boost support for game builders in the ARB ecosystem. The plan is to strategically allocate 200 million ARB to game projects within Arbitrum. The token has sustained its gains from the week.

More Arbitrum News

ONDO extends gains by 4% with rise in non-empty wallets, hits new all-time high

ONDO extends gains by 4% with rise in non-empty wallets, hits new all-time high

Ondo extended gains by 75% increase in the past 11 days, per crypto intelligence tracker Santiment. The token ranks among top trending assets on the platform, with a massive spike in non-empty wallets. ONDO added 4% value to its price on Sunday, sustaining 40% gains from the week. 

More Ondo News

Aptos user transactions hit record high, APT eyes over 20% gains

Aptos user transactions hit record high, APT eyes over 20% gains

Aptos user transactions in a single day reached 97.488 million. The number of user transactions and Transactions Per Second, both metrics hit a record high, supporting the thesis for price gains in APT. The rise in transaction-related metrics can be attributed to Tapos, a viral clicker game where users can earn rewards. 

More Aptos News

US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

US Presidential candidate Donald Trump is open minded to cryptocurrency, supports right to self custody

US Presidential candidate Donald Trump shared positive views on crypto, posting on social media platform, “I am very positive and open minded to cryptocurrency companies and all things related to this new and burgeoning industry.” 

More Cryptocurrencies News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis