Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Here’s what to expect after FTX’s collapse

Bitcoin price, along with Ethereum, Ripple and other altcoins, has undergone a massive sell-off over the last 24 to 48 hours after the recent collapse of Sam Bankman Fried’s exchange FTX. 

Before the well-known crypto exchange was acquired by Binance, the native token FTT tanked as a result of the balance sheet rumors. 

Read more: Binance acquires FTX to bring an end to FTT-induced FUD

Regardless of the recent acquisition, the market has sold off, but there might be a chance for a comeback, especially if Bitcoin price manages to stabilize.

Bitcoin price attempts a recovery 

Bitcoin price slid 15% in the last three days, sweeping the June 18 swing low at $17,593. This development has put BTC at a critical point where recovery is only possible if it can climb above the $19,000 level. 

In such a case, a recovery bounce to $20,742 could be underway. For the next few days, if the buyers step up, the range between $18,500 and $20,742 is where BTC will remain. This development is necessary for a build-up of momentum, especially if it is the start of a run-up to $25,000 or $28,000.

BTC/USD 1-day chart

However, things could take a gloomy road if Bitcoin price slips below the $18,500 support. If BTC produces a daily candlestick close below $17,593, it will invalidate the bullish outlook and trigger a correction to the next support level at $15,551.

Ethereum price at an inflection point

Ethereum price faces a brutal rejection by the twelve-hour demand zone, extending from $1,675 to $1,750. ETH shed roughly 26% in under four days and is currently retesting the range high at $1,280. 

A breakdown of this level will prove fatal for holders, Bulls have one last chance to defend this area. Depending on Bitcoin’s outlook, a resurgence of buying pressure could see ETH revisit the $1,402. 

Only in a highly bullish case could investors expect Ethereum price to tag the $1,500 psychological level.

ETH/USD 12-hour chart

On the other hand, if Ethereum price breaks below $1,280, it will invalidate the bullish thesis and open the path to revisit the range’s midpoint at $1,080.

Ripple price crumbles under pressure

Ripple price created multiple lower highs between late September and early November. This weakness was followed by a breakdown of the $0.466 support level, which led to a 28% crash. As a result, XRP price reentered the $0.336 to $0.466 range.

So far, Ripple price has bounced 16% and is currently hovering below the midpoint at $0.401. A flip of this hurdle into a support floor will be key in recovering the recent losses. In such a case, XRP price could surge 12% to $0.447.

XRP/USD chart

Regardless of the recovery, a failure to push past the $0.401 hurdle will signal a weakness among buyers. This development could see Ripple price revisit $0.336, where buyers can reattempt the run-up.