|

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto’s Summertime Sadness

  • Bitcoin price falls to find support at $30,000.
  • Ethereum price is on pace to decline towards $1400.
  • XRP price declines in free-fall fashion.

The cryptocurrency market displays disheartening sentiment amongst investors as a Bitcoin price fails to hold support above 30,000. Failure to hold the psychological number is work only being carried through by smart money. Bitcoin, Ethereum and XRP could experience more sell-offs due to the immense power displayed by the bears.

Bitcoin price has fallen below $30,000

Bitcoin price failure to hold the $30,000 price zone is a signal no trader wants to see. It appears smart money has a strong enough influence to keep the BTC price suppressed. Now that the previous bullish thesis is invalid, the bears are building shorts to aim for lower targets. Bulls in the market should step back and allow more evidence from the technicals before placing a long entry.

tm/btc/6/3/22

BTC/USDT 2-Day Chart

Invalidation of the downtrend now still lies at $32,630. If this level is breached, the bulls should be able to raise the BTC price as high as $38,000, resulting in a 30% increase from the current Bitcoin price. 

Ethereum is still on pace to fall further

Ethereum price still falls short of the $2000 price level. The ETH price currently trades at $1756 as the bears continue to follow last month's technicals

Ethereum price shows no signs of a bullish retaliation. The ETH price is suppressed and declining in an almost free-fall-like manner. A $1400 target is imminent for the Ethereum price and lower targets would not be surprising. There are no indicators to dispute the bearish thesis at the current time. 

tm/eth/6/3/22

ETH/USDT 4-Hour Chart

Ethereum price bearish invalidation still lies above $2,480. If the bulls can breach this area, the ETH price downtrend could be void. The bulls could rally as high as $3000, resulting in a 75% increase from the current Ethereum price. 

XRP price is witnessing a steep decline

XRP price is heartbreaking as investors who bought the dip are seeing their investments diminish in value. This week, the Ripple price saw an intense decline following a weekend rally that shot the price above $0.42. The digital remittance token is losing value in a free-fall fashion and is unlikely to stop at the current $0.38 price level. 

XRP price could continue its plummeting nature for days to come. The long-held dispute between XRP and SEC still alludes to unpredictable price action for the summer. If market conditions persist, XRP price is on pace to tap the liquidity levels at $0.32. A dollar-cost average approach is still a favorable strategy for XRP maximists aiming for long-term macro targets. 

tm/xrp/6/3/22

XRP/USDT 1-Hour Chart

Author

Tony M.

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

More from Tony M.
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

World Liberty Financial recovers as community votes to unlock treasury funds for USD1 adoption

World Liberty Financial recovers over 3% on Friday, holding ground at a key support trendline. Community begins voting to unlock roughly 5% WLFI treasury funds to incentivize USD1 stablecoin adoption.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid bearish market conditions

Bitcoin (BTC) is edging higher, trading above $88,000 at the time of writing on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are following in BTC’s footsteps, experiencing relief rebounds following a volatile week.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.