Top 3 Price Prediction Bitcoin, Ethereum, Ripple: XRP keeps the lead ahead of BTC and ETH


  • Bitcoin price tries to rebound from a critical support level on the daily chart.
  • Ethereum follows BTC closely but has more strength in the short-term and remains trading around $2,000.
  • Ripple price outperformed every other big crypto after a massive 100% rally to new three-year high at $1.19.

The cryptocurrency market has recovered slightly from a $150 billion dip, gaining back around $80 billion, but the top three cryptocurrencies are not out of danger just yet. XRP took the lead in the past week and maintains a significant advantage over the rest. Ripple gained $22 billion in market capitalization in less than two days. 

Bitcoin price defends critical support level 

On the daily chart, Bitcoin has managed to hold above the 50 EMA support level which has been a strong support point since the beginning of October 2020. However, this moving average is currently located at $53,300, which means BTC can still see further downside action. 

btc price

BTC/USD daily chart

The most significant resistance level on the way up is located at $59,000. A breakout above this key point should drive the Bitcoin price toward the previous all-time high of $61,844. However, it seems that BTC whales have been selling for the past month.

btc price

BTC Holders Distribution chart

The number of whales with 10,000 to 100,000 BTC decreased by 10 in the past month. Similarly, the number of large holders with 1,000 to 10,000 BTC also dropped significantly from 2,274 to 2,158 since March. 

Losing the 50 EMA support level will quickly drive the Bitcoin price down to $50,450 at the 78.6% Fibonacci retracement level, which coincides with the low of March 25.  

Ethereum’s uptrend is at no risk according to technicals

On the daily chart, Ethereum established a robust support trend line since the beginning of January. This boundary is currently located at $1,700, which means that anything above this level poses no threat to the bulls.

eth price

ETH/USD daily chart

Additionally, the RSI, which was overextended, has cooled off notably to about 56 points, which means ETH has a lot of room for a new leg up above the all-time high of $2,151. 

eth price

ETH IOMAP chart

The most significant resistance area is located between $2,041 and $2,060 where 152,000 addresses purchased over 10.8 million ETH. This is shown by the In/Out of the Money Around Price (IOMAP) chart. A breakout above this point should push Ethereum into new all-time highs.

However, at the same time, there is weak support below the current price until the robust trend line at $1,700. 

Ripple price faces massive selling pressure after 100% rally

On the daily chart, the TD Sequential indicator has just presented a sell signal and a green ‘8’ candlestick on the 3-day chart, which is often followed by a sell signal as well. This comes as no surprise due to the recent massive 100% rally that XRP experienced. 

xrp price

XRP Sell Signals

XRP has lost the 78.6% Fibonacci Retracement level at $0.958, and it is at risk of falling toward the 50% level at $0.742 if both sell signals are confirmed. 

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

Stellar approaches critical level that could propel it to $1.42

XLM price is heading toward the lower trend line of an ascending parallel channel. A bounce from the demand zone extending from $0.40 to $0.43 can propel Stellar by 200% to record levels. If this area of support is breached, a bearish narrative will unfold.

More Stellar Lumens News

Enjin Coin loses critical support and could fall deeper

The entire cryptocurrency market suffered a deep correction, losing $310 billion in market capitalization over the past three days. The momentum has clearly shifted in favor of the bears, and ENJ is on the verge of another leg down.

More Enjin Coin News

Litecoin edges closer to 83% bull rally

Litecoin price is hovering above two critical demand zones that could propel the coin to new yearly highs. A breach of the supply zone’s upper boundary at $317.09 will provide further confirmation of an upswing. The bearish scenario will come into play if LTC bears pierce the $210.77 level.

More Litecoin News

Ripple finds foothold for 60% upswing

XRP price hit a dead-end during the previous impulse wave, creating a recent local top, which resulted in a deep correction. However, the formation of a reversal pattern suggests that gains await holders.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: Institutional wave of BTC adoption follows new all-time highs

Bitcoin price hitting a new all-time high and Coinbase’s direct listing are perhaps two of the most important developments surrounding the pioneer cryptocurrency over the past week.

Read the weekly forecast

BTC

ETH

XRP