Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Cryptos going vertical!

  • Bitcoin price has risen by 6% and has re-entered the $20,000 price zone.
  • Ethereum price rallies back to $1,450, a 22% increase since January 1.
  • XRP price is up 3% on the day and aims to rise above $0.40.

The crypto market has made a full u-turn and is charging north impulsively. The vertical incline being displayed could extend towards much higher targets.

Bitcoin price back to $25,000?

Bitcoin price is up 6% on the day, making the trending relief rally a 20% gainer since January 1. The daily spike (now the largest daily gainer of the month) has gone completely vertical, breaching past a trendline that halted previous uptrend attempts throughout the fall.

Bitcoin price currently auctions at $20,017. Zooming out, the previous range shows converging trendlines from the June 18 low and August 15 high, as the BTC price failed to break each side of the range throughout the summer and fall. Elliott Wave practitioners suggest that an "Ending Diagonal" as a possible explanation for the confining range. 

If the recently breached trend line is a part of an ending diagonal pattern (commonly found near market reversals) the bullish target zones could be the fialnals origin point above the August high resulting in an additional 25% rally from Bitcoin's price today.

A Fibonacci retracement level from the bullish cross of the 8-day exponential moving average and 21-day simple moving average at $16,655 and the $25,000 high shows resistance levels at $20,430 and potentially $21,440. These levels could act as temporary resistance points before BTC ultimately moves toward the anticipated target zone. 


BTC/USDT 1-Day Chart

Invaliartion of the trend  s subject to interpretation. Day traders could place their stop loss under the trendline at $17,000, while the conservative Elliott Wave approach would be a breach below the 2022 low at $15,476. 

Ethereum price is in profit

Ethereum price has confirmed the bullish bias mentioned throughout the winter and has hit the ideal target at $1,450. Since the beginning of the month, analysts have been calling for a potential challenge of the mid-$1,400 barrier after ETH crossed over the $1,230 support zone. 

Ethereum price currently trades at $1,458. Traders participating in the bullish trade are well in profit as ETH now bolsters a 22% gain since January 1. The next key targets are near $1,600. The price zone is a critical liquidity level that has remained untagged since ETH fell from $1660 to $1,073 during the first week of November. 


ETH/USDT 1-Day Chart

Invalidation of the trade idea could be placed under the $1,344 pivot point established during the recent trend. A barrier breach could induce a larger retracement targeting the $1,250 zone as support. The ETH price would decline by 15% if the bears were to succeed.

XRP price finally takes off

XRP price continues to ascend as the bulls are up 3% on the daily, bringing the ongoing rally to a 29% increase in market value since January 1. On January 11, the largest influx of volume this year accompanied the developing trend, as 1.6 billion transactions were accounted for on all exchanges during XRP's 7% uptick. The spike in volume is a positive affirmation to suggest bulls' enthusiasm and the beginning stages of a much larger bullrun. 

XRP price currently auctions at $0.384. Unlike BTC and Ethereum, The Relative Strength Index has not yet broken out into overbought territory above 70 level on daily timeframe. Breaking out past 70 would be an ideal bullish signal to suggest that Ripple is unfolding a larger impulsive wave. Since it has not yet breached the barrier, the XRP price could be trading range bound, placing a cap above the current uptrend's potential.

Since the trend has gone vertical, much like ETH and BTC, the XRP could be lagging in terms of time instead of strength. Therefore the conservative bullish target at $0.44(mentioned in previous outlooks) still stands a fair chance of being tagged. 


XRP/USDT 1-Day Chart

The earliest evidence of uptrend failure could be a breach of the recently crossed 8-day exponential moving average at $0.35. A tag of the low could induce a second attempt at the $0.30 low resulting in a 20% decrease from XRP's current market value. 



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

Uniswap nears $3 billion in daily trading volume despite Wells notice and fee hike

Uniswap nears $3 billion in daily trading volume despite Wells notice and fee hike

Uniswap's (UNI) price witnessed a double-fold crash in the past week after it received a Wells notice from the SEC and later due to the general crypto market crash over the weekend. In the past week, UNI has decreased more than 38%.

More Uniswap News

Arbitrum Price Prediction: 10% losses likely for holders ahead of $107 million worth of cliff token unlocks

Arbitrum Price Prediction: 10% losses likely for holders ahead of $107 million worth of cliff token unlocks

Token unlocks are considered bearish catalysts, particularly when recipients are likely to cash in for a quick profit. The event, which adds tokens to the project’s circulating supply without increasing demand, leaves an effective imbalance in favor of supply. 

More Arbitrum News

Ethereum recovers from dip as Hong Kong ETH ETF approval sparks whale buying spree

Ethereum recovers from dip as Hong Kong ETH ETF approval sparks whale buying spree

Ethereum's (ETH) price slightly improved on Monday after Hong Kong approved applications for a spot Bitcoin and Ethereum ETF. Whales have also been accumulating ETH after the market dip over the weekend.

More Ethereum News

Bitcoin price delays pre-halving rally as US and China battle for BTC supremacy ahead of halving

Bitcoin price delays pre-halving rally as US and China battle for BTC supremacy ahead of halving

Bitcoin has failed to showcase an enticing pre-halving rally. As the event remains less than a week out, traders and investors remain at the edge of their seats, with thoughts on whether the impact of the fourth cycle will be different than what has been seen before. 

More Bitcoin News

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin: BTC’s rangebound movement leaves traders confused

Bitcoin (BTC) price has been hovering around the $70,000 psychological level for a few weeks, resulting in a rangebound movement. This development could lead to a massive liquidation on either side before a directional move is established. 

Read full analysis