|

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Ethereum reaching for $2,000, as selected altcoins breakout

  • Bitcoin has been rejected from its new-all time high as buyers rush to defend support above $50,000.
  • Ethereum breaks out to fresh record highs, with the ultimate goal of rising above $2,000.
  • Ripple is holding between the 50 SMA resistance and the 100 SMA support as consolidation beckons.

The cryptocurrency market is dotted green and red, with selected altcoins posting incredible gains. Ethereum is eyeing $2,000 after stepping above $1,900 for the first time in history. On the other hand, Binance Coin leads other altcoins by posting massive double-digit gains of over 35%.

Other selected altcoins posting double-digit gains are Avalanche (up 13.2%), Terra (up 13.8%), Huobi Token (up 23%), Elrond (up 18%) and FTX Token (up 13%).

On the other hand, Bitcoin has settled above $50,000 but struggles with the uptrend. Meanwhile, the money transfer token, XRP, is holding above $0.5 while facing increased resistance under $0.6.

Bitcoin must hood above $50 to continue with the uptrend

The pioneer cryptocurrency recently stepped above $52,000. The move came after bulls confirmed a breakout above $50,000. However, they lost steam at $52,640 (a new all-time high), giving way to the ongoing retreat.

At the time of writing, Bitcoin was marginally above $51,000 amid the bulls' battle to secure higher support. If this immediate support is lost, attention will shift to $50,000. Holding firmly to the anchor at this zone is crucial to sustaining the uptrend.

BTC/USD 4-hour chart

BTC/USD 4-hour chart

On the flip side, massive losses will come into the picture on breaking $50,000. Besides, the Moving Average Convergence Divergence (MACD) shows that the technical image could flip bearish at any time, especially if the MACD line crosses below the signal line.

Ethereum gradually ascends toward $2,000

Ethereum seems to be making progress despite the lockstep trading. Over the last few days, Ether has reclaimed the lost ground above $1,700, $1,800 and even traded new all-time highs of $1,930 on Coinbase.

In the meantime, a minor retreat has come into the picture, forcing ETH to explore the levels under $1,900. However, the MACD indicator shows that the largest altcoin has bullish impulses and may resume the rally to $2,000. Note that closing the day above $1,900 will allow bulls an opportunity to focus on breaking past the coveted $2,000.

ETH/USD 4-hour chart

ETH/USD 4-hour chart

On the flip side, bears will increase their grip strength if Ethereum fails to close the day under $1,900. On the downside, immediate support is expected at the 50 Simple Moving Average, around $1,800.

Ripple price is dancing between crucial support and resistance

XRP has been rejected at $0.55 and is trading at $0.52. On the upside, the 50 SMA limits movement, while on the downside, the 100 SMA near $0.5 is providing support.

According to the MACD indicator, XRP struggles to define its trend; therefore, consolidation will precede. Therefore, it essential to hold above the immediate support, which gives the bulls ample time to plan the next attack on the seller congestion zones at $0.55, $0.6 and $0.65.

XRP/USD 4-hour chart

XRP/USD 4-hour chart

The Relative Strength Index on the same 4-hour chart has recently crossed under the midline, adding credence to the bearish picture. If the trend strength indicator continues to drop toward the oversold, XRP will retest support at the 100 SMA and perhaps retreat to $0.45.

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Kraken’s parent plans regulated US perpetual futures on Hyperliquid

Hyperliquid has named Payward, the parent company of crypto exchange Kraken, as its intended first Commodity Futures Trading Commission-regulated deployer on HIP-3 markets. In an X post on Monday, Hyperliquid stated that Payward plans to use its infrastructure to deploy perpetual futures markets for US customers. The proposed arrangement remains subject to regulatory approval.

Pi Network Price Forecast: PI stalls as weak crypto sentiment caps recovery

Pi Network holds steady above $0.0760 stalling after a roughly 2% rebound the previous day. The broader market's weak sentiment and reduced trading volume weigh on the PI token. The technical outlook is bearish, with price capped below a long-term resistance trendline and weak momentum.

Ripple and Stellar outlook: XRP and XLM remain under pressure as bearish momentum persists

Ripple and Stellar continue to remain under pressure, trading below $1.30 and $0.169 respectively, after a mild recovery the previous day. Both XRP and XLM remain below their key Exponential Moving Averages, indicating bearish price action. Moreover, mixed derivatives metrics and cautious on-chain data are capping sustained recovery in XRP and XLM.

Ripple secures OCC approval for National Trust Bank
Brad Garlinghouse, CEO of Ripple, announced in an X post on Monday that the Office of the Comptroller of the Currency (OCC) has granted final approval to charter Ripple National Trust Bank (RNTB). The federally supervised national bank demonstrates Ripple's progress toward building digital asset infrastructure within a regulated financial system.
Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.