Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos are primed for explosive breakout

  • Bitcoin price is struggling to reach the $60,000 psychological level as it continues to consolidate.
  • Ethereum price continues to compress between the $3,387 and $3,623 barriers, lacking directional bias.
  • Ripple price is also stuck below a crucial resistance level at $1.135.

Bitcoin price continues its slow uptrend as it lacks volatility. Ethereum and Ripple are promptly following the big crypto as they continue to consolidate. While these top cryptocurrencies continue to consolidate, altcoins are breaking out without any hesitation.

Bitcoin price vies to tackle another significant level

Bitcoin price has rallied 9.8% over the past week despite lacking volatility. The $60,000 psychological barrier is within BTC’s grasp, but it needs to see a bullish breakout from this consolidation. A decisive close above $60,000 will put almost all of the holders “In the Money,” alleviating any sell-side pressure.

Such a development will attract the sidelined investors to jump on the ride to retesting the all-time high at $64,895, and perhaps if the buying pressure continues to build, a new all-time high at $77,525.

BTC/USD 1-day chart

BTC/USD 1-day chart

While things are going too slow for Bitcoin price, the breakout from the ongoing consolidation is crucial. If BTC breaks lower, it is likely that a retracement to $55,000 will ensue. In some cases, the downswing might extend to $53,000. This move would not invalidate the bullish thesis, but it would allow buyers to buy BTC at a discount, giving them another chance at the bull run.

Ethereum price gets crushed between two barriers

Ethereum price has been consolidating between $3,387 and $3,623 for roughly 11 days and shows no signs of a breakout. This lack of direction bias is due to the short-term migration of capital from altcoins to BTC in anticipation of a BTC ETF being approved by the US Securities & Exchange Commission.

Therefore, investors can expect this consolidation to continue for a while. A decisive close above $3,630 will start a new uptrend, but confirmation of this will arrive if BTC dominance continues to decrease. This reduction will help not just ETH but the altcoin ecosystem as a whole.

In such a case, ETH will first take a ride to $3,938 or the September 5 swing high. Following this, Ethereum price will make a run at the $4,000 psychological level. Clearing this barrier will open the doors to retest and even set up a new all-time high at $4,957.

In a way, Ethereum and Bitcoin are in the same boat with respect to retesting their respective all-time highs.

ETH/USD 1-day chart

ETH/USD 1-day chart

Regardless of the decrease in pressure from the big crypto, if ETH holders decide to book profits, pushing Ethereum price to produce a decisive close below $3,387, it will produce a lower low, threatening the bullish outlook.

However, ETH will likely be able to make a comeback as long as it stays above $3,200, but a breakdown of $3,000 will likely invalidate the optimistic scenario.

Ripple price struggles as headwinds increase

Ripple price flipped above the $1.05 resistance level and flipped it to a support floor. However, this rally faced headwinds, undoing most of its gains to where it currently stands. XRP price is currently facing off the $1.13 resistance level and is getting overwhelmed by selling pressure.

While this short-term outlook might seem bearish, a decisive close above $1.13 and $1.24 will confirm an uptrend. In this case, Ripple price is likely to continue its ascent toward the range high at $1.42.

However, investors need to keep a close eye on the $1.67 and $1.88 barriers and the buy-stop liquidity resting above these levels. Assuming XRP price tests these hurdles, it would constitute a 62% ascent.

XRP/USD 1-day chart

XRP/USD 1-day chart

While Ripple price has a mid-term bullish outlook, a breakdown of the $1.05 support floor will put a dent in that. A decisive close below the 62% Fibonacci retracement level at $0.86 will create a lower low, invalidating the bullish thesis. 


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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

XRP price to pull a 180 as Ripple bulls come out of the woodwork

XRP price lacks volatility as it trades close to a crucial support level. While a major reason for this is its correlation with Bitcoin, a part of it also arises from the lack of interest among the investors for this coin. There is a good chance Ripple could see a brief uptrend that pushes it toward the immediate resistance barrier.

More Ripple News

MATIC price gives bulls another opportunity to undo recent losses

MATIC price has seen an increase in selling pressure that has undone most of its gains from the last week. The retracement has knocked Polygon down to a stable barrier that is likely to sustain the incoming bearish momentum, allowing bulls to make a comeback.

More Polygon News upside limited to $0.54 as CRO faces multiple hurdles

A brief technical and on-chain analysis on price. Here, FXStreet's analysts evaluate where CRO could be heading next.

More News

Google prepares for a foray into crypto, plans to expand payment division

Google is planning to enter into the cryptocurrency space as the firm has hired a former PayPal executive to lead its payment division. The multinational technology company is laying out a broader strategy to team up with a wider range of financial services including digital assets.

More Cryptocurrencies news

BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis