Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Institutional demand mounts as crypto market nears $2 trillion

  • Bitcoin price successfully defended a key support level on the daily chart and aims for new all-time highs.
  • Ethereum price has established a new all-time high at $2,150 in the past 24 hours.
  • Ripple price has experienced a massive 60% explosion in the past two days.

The cryptocurrency market recovered from the dip on March 25 and has hit a new all-time high in market capitalization at $1.99 trillion. Ethereum has been outperforming Bitcoin lately, but the biggest winner has been XRP. Surprisingly, the digital asset had a massive 60% rally after Brad Garlinghouse, CEO of Ripple, said he is hopeful thanks to the new SEC administration.

Bitcoin price resumes daily uptrend, aiming for new all-time high

Bitcoin had a significant correction from the previous all-time high of $61,844 formed on March 13. The flagship cryptocurrency lost 18.5% of its value in the next two weeks, creating a local bottom of 50,427 on March 25. 

btc price

BTC/USD daily chart

However, the digital asset managed to bounce back up, recovering the 12  and 26 EMA support levels. In the past four days, Bitcoin bulls have defended the 12 EMA and are ready for a new leg up above the key resistance level of $60,218 toward the previous all-time high. 

btc price


The In/Out of the Money Around Price (IOMAP) model shows a ton of support between $58,518 and $55,019, where 3.1 million addresses purchased over 1.2 million BTC. This range will absorb a lot of short-term selling pressure. 

Additionally, there is far weaker resistance above $58,500, which indicates that bulls have the upper hand, and it will be easier to push the Bitcoin price toward $60,218 and ultimately to a new all-time high. 

However, losing this great support area would quickly drive the Bitcoin price toward $50,000 as there are no other significant support points below. 

Ethereum price hits new all-time high as 14 million ETH are locked away

One of the biggest strengths of Ethereum is the fact that a large majority of coins are locked away from exchanges. The ETH2 deposit contract holds more than 3.7 million ETH worth around $7.8 billion at the time of writing.

The number of ETH locked in DeFi hit 10.7 million, which means that 14.4 million ETH are locked away and cannot be sold currently. This number represents $30 billion worth of ETH, which is around 13% of the total circulating supply. 

eth price

ETH/USD daily chart

Ethereum remains contained in an ascending broadening wedge pattern on the daily chart. The upper boundary of this pattern is currently located at around $3,200, and ETH has practically no resistance ahead.

eth price

ETH Supply on Exchanges 

Additionally, the number of ETH inside exchanges also dropped in the past two weeks despite the smart contracts giant hitting new all-time highs. Since March 19, this number dropped by 0.9%. 

eth price

ETH/USD daily chart

However, on the daily chart, the RSI is close to overextension again, which has proven to be an accurate indicator of upcoming corrections.  The digital asset could fall toward the 12 EMA at $1,970 if selling pressure continues mounting. 

Ripple price explodes by 80% in 48 hours

It seems that fears about the SEC lawsuit have dissipated as XRP holders have pushed its price to new yearly highs for no apparent reason. Brad Garlinghouse has stated:

I find a certain irony that the SEC would bring a lawsuit against us, because what they’re saying is not just that we should have known and we’ve acted in bad faith when the SEC themselves haven’t really said they know for sure that XRP is a security. In their own court filings, they said that the court will determine that, which of course brings a contradiction that if the court’s going to determine that, how could I personally have known that the SEC would view XRP as a security.

However, the CEO also stated that Ripple can easily continue without XRP, which should not be positive news for XRP holders. 

xrp price

XRP/USD daily chart

This is the highest price point in two years for XRP. Using the Fibonacci retracement tool, we can determine several support levels on the way down. The nearest is established at $0.90, which is the 78.6% Fib level, followed by $0.74 at the 61.8% level. 

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.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Ethereum Classic bides time before the next upswing kicks in

ETC price is stuck in a tight range between two key Fibo levels on the 12H chart. Overbought conditions warrant caution but the coin defends key support so far. The 61.8% Fibonacci level of this month's surge at $127.20 is limiting any upside attempt in the spot. Ethereum classic awaits fresh impetus for the next direction.

More Ethereum Classic News

DOGE’s bullish potential appears limited amid overbought conditions

DOGE/USD eyes $0.80 amid a descending triangle breakout on the 4H chart. Overbought RSI remains a cause for concern for the DOGE bulls. Elon Musk’s Saturday Night Live appearance waited for fresh impetus.

More Dogecoin News

Ripple epitomizes relative strength, portends higher prices

XRP price confidence weakens slightly as breakout from bullish base falters. XRP/BTC pair has gained over 300% in the last eight weeks. Ongoing SEC case and the documentation production battles cast a wide shadow.

More Ripple News

Litecoin price enjoys steady uptrend, but beware of LTC warning signs

Litecoin price closes with a Doji candlestick, indicating an interruption in the trend. Significant Fibonacci level restraining rally from reaching the all-time high. Litecoin price on pace to close with fourth-largest weekly gain since September 2020 low.

More Litecoin News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast