Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP in a league of its own as BTC and ETH  pull back


  • Bitcoin price is setting the stage for a pullback after a 40% upswing.
  • Ethereum price is following BTC but might undergo consolidation.
  • Ripple price defies its run-up, suggesting a minor correction might be enough before another rally begins.

Bitcoin price is currently showing signs of retracement after a second attempt to rally higher. Ethereum price tried following in BTC’s footsteps but lacked momentum. On the other hand, Ripple price is paving its way, but it might fall in line soon.

Bitcoin price sets up a higher high

Bitcoin price created a swing high at $39,223 on July 26, which seemed like a perfect setup for a retracement. However, BTC rallied on July 28, sweeping the previous swing point and setting up a new one at $40,900.

This development indicates that the flagship cryptocurrency is ready for a pullback. Assuming the selling pressure continues to build, BTC price is likely to sell off 10% to tag the 50% Fibonacci retracement level at $35,618. This move will also create a higher low, further supporting the bullish argument.

Investors can expect a resurgence of buyers around this area to restart the uptrend, with bulls targeting the range high at $42,451.

BTC/USDT 6-hour chart

BTC/USDT 6-hour chart

While things are looking up for BTC, a breakdown of the trading range’s midpoint could indicate weakness. If the bears push Bitcoin price to breach the support level at $34,666, it will invalidate the bullish thesis and potentially trigger a correction to $33,185.

Ethereum price falls short

Ethereum price followed BTC’s suit but fell short as it rallied to set up the higher high above the July 26 swing high at $2,433. This development has pushed ETH down to the $2,271 support level.

Increased selling pressure might push it down to the subsequent support level at $2,174. If the buyers make a comeback, the double bottom pattern will help push Ethereum price higher.

In some cases, ETH might even set up a higher low, which will promote a move toward the recent swing high at $2,433 and even $2,460. 

ETH/USDT 4-hour chart

ETH/USDT 4-hour chart

If the bearish momentum increases to a point where it forms a lower low below the July 27 swing low at $2,172, it will set up a lower low, indicating a shift in trend.

However, a breakdown of $2,018 will invalidate the bullish thesis and open the possibility of a move to $1,850.

Ripple price moves defy big crypto’s moves

Ripple price shows strength, unlike ETH, as it pierced the high probability reversal zone ranging from $0.68 to $0.727. This climb was brief and shows a pullback is already underway. A retest of the 60% Fibonacci retracement level at $0.68 seems likely.

In a highly bearish case, the correction might extend up to the 50% Fibonacci retracement level at $0.647.

Investors can expect a retracement around this barrier. The resulting uptrend should be able to tag the range high at $0.785 if the bullish momentum is strong.

XRP/USDT 4-hour chart

XRP/USDT 4-hour chart

Regardless of the current bullish outlook that is being witnessed on XRP, market participants should consider a down move that breaches past $0.59 that will invalidate the optimistic narrative.

Such a move might also reveal a bearish inclination that could drag Ripple down to $0.568.

 

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.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC scales higher, taking altcoins with it

Bitcoin price exuded bullishness over the past week as it continued to rally without significant corrections. As a result, Ethereum, Ripple and other altcoins have followed suit. Although the entire market looks bullish at the time of writing, things could turn awry if BTC witnessed a September 7-style crash.

More Bitcoin News

Dogecoin killer Shiba Inu ready for new bull run

Shiba Inu gets listed on Binance.US, SHIB price recovers from the loss posted over the past week. The Shiba-Inu-themed token is one of the top 10 most mentioned cryptos on Twitter alongside BTC, ETH, DOGE, ADA. Shiba Inu CEO reveals that Shibarium, Shiba L2 using Bone as native token, is currently under development.

More Dogecoin News

AVAX price to hit new all-time high at $80 as Avalanche bulls take over

AVAX price rose exponentially after breaking out of a crucial resistance level on September 10. However, this uptrend was cut short as the markets collapsed on September 12, which led to a quick retracement. However, Avalanche seems to be back on track and ready to continue its rally.

More Cryptocurrencies News

XRP price awaits 26% upswing, but stiff hurdles may blindside Ripple bulls

XRP price appears to be headed for a 26% climb, but the hopes of a Ripple rally could be hampered by the multiple resistances that stand in the way of the bullish target. The cross-border remittance token could find substantial support, should the optimistic outlook be ruined. 

More Ripple news

BEST CRYPTO BROKERS/EXCHANGES



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

BTC

ETH

XRP