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. 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

Solana price eyes a return to $120 as confidence in SOL fades

Solana price continues to face some strong technically and fundamentally bearish scenarios. In addition, concerns about Solana’s network stability and scalability remain. Those concerns continue to weigh in on the bearish price action ahead.

More Solana news

MATIC on the march to $3 but must hold this support zone or face strong selling pressure

MATIC price action has fallen below the rising wedge for the second time in January; the first occurrence was on January 8. The Kijun-Sen is the final support zone, and if it fails, MATIC could drop 20%. The recent fundamentals are bullish.

More Polygon news

Top 3 Price Prediction: Crypto market seems ready to rally

Bitcoin price continues to sit on top of the neckline of a head-and-shoulders pattern, generating anxiety amongst bulls and bears alike. Ethereum price is testing the daily Tenkan-Sen as a support zone that could turn into a higher low.

More Bitcoin news

Dogecoin liquidity deepens as DOGE goes live on Thorchain

Thorchain announced earlier today that the Dogecoin liquidity pool is live on the decentralized liquidity network. As on-chain activity would increase, the deep liquidity fuels a bullish narrative for Dogecoin price. 

More Dogecoin News

BTC eyes retest of $50,000

Bitcoin price shows a resurgence of retail interest as it bounced off a crucial psychological level. The recent uptrend is preparing a base on a short-term time frame so BTC can kick-start a larger leg-up. Interestingly, on-chain metrics are lining up with the bullish outlook portrayed from a technical perspective. An uptrend now seems inevitable for BTC and, therefore, the larger ecosystem.

Read full analysis

BTC

ETH

XRP