Top 3 Price Prediction Bitcoin, Ethereum, XRP: Crypto traders anticipate a new rally soon

  • Bitcoin price shows strength as it maintains the $40,000 support zone.
  • Ethereum price develops an entry that could yield a 27% gain.
  • XRP price is poised to return to the critical $1 value area.

Bitcoin price action has spent the week developing a particularly nasty bear trap off a head-and-shoulders pattern. Ethereum price pulled back from the recent rally, but it has found support and shows signs of buyers returning to continue the push higher. XRP price has developed a near-identical reversal setup to Ethereum as Ripple targets a 20% gain.

Bitcoin price presents buying opportunity before BTC will breakout to $61,000

Bitcoin price action continues to offer an excellent long opportunity before the weekend. The theoretical long entry is a buy stop order at $44,000, a stop loss at $40,000, and a profit target at $61,000. The trade represents a 4.25:1 reward/risk with an implied profit target of over 40% from the entry. A two-box trailing stop would help protect any profit made post entry.

BTC/USD $1,000/3-box Reversal Point and Figure Chart

The theoretical long idea is invalidated if Bitcoin price has a daily or weekly close below the $39,500 value area.

Ethereum price targets a return to $4,000, wiping out short sellers in the process

Ethereum price, like Bitcoin and many other altcoins, has developed several bear traps. However, the most recent bear trap has generated a buying opportunity from a Point and Figure pattern known as a Pole Pattern. Pole Patterns are a more flexible pattern in Point and Figure charting, offering initial entries with inverse reversal setups simultaneously. One of those opportunities now exists for Ethereum.

A theoretical long setup for Ethereum price is a buy stop order at $3,400, a stop loss at $3,200, and a profit target at $4,300. This trade represents a 4.5:1 reward/risk setup with an implied profit target of over 27% from the entry. A two to three-box trailing stop would protect any profit made after triggered entry.

ETH/USD $50/3-box Reversal Point and Figure Chart

The theoretical long entry is invalidated if the current O-column reaches $2,950.

XRP price pulls back and prepares to convert to a bull market

XRP price action has the best-looking bullish breakout compared to Bitcoin or Ethereum. This bullish bias is because the entry off the Pole Pattern breaks the current bear market angle and converts XRP into a bull market.

The possible long entry is a buy stop order at $0.80, a stop loss at $0.76, and a profit target at $0.98. Because this entry is based on a Pole Pattern reversal, XRP can move lower. If XRP does move lower, then the entry and the 4-box stop follow in tandem – but the profit target remains at $0.98.

Like Bitcoin and Ethereum, XRP’s possible long trade setup is a 4.5:1 reward/risk but with a 23% implied gain. As a result, $0.98 may be too conservative, especially given how long XRP has spent wallowing in flat to negative price action compared to Bitcoin and Ethereum.

XRP/USD $0.01/3-box Reversal Point and Figure Chart

This long entry idea is invalidated if XRP price drops to $0.70.


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

Axie Infinity price not out of the woods yet as AXS slides toward $30

Axie Infinity price continues to face weakness as its downtrend remains intact. AXS could be headed for a 40% plunge following the slice below the lower boundary of the prevailing chart pattern.

More Axie Infinity news

IMF pushes El Salvador to drop Bitcoin as legal tender

The IMF has urged El Salvador to remove Bitcoin’s status as legal tender in the country. IMF directors emphasized that there are huge risks associated with the use of the leading cryptocurrency on financial stability.

More Bitcoin news

MATIC completes corrective wave and will return to $2

MATIC price suffered one of the fastest 50% retracements out of the major cryptocurrencies. Bears finally generated a sell-off from the rising wedge and pushed MATIC towards its most vital primary support zone. Buyers have stepped in, but it remains to be seen whether they will continue.

More Polygon news

Dogecoin short squeeze will launch DOGE to $0.25

Dogecoin price has been on a wild ride over the past few weeks. After gaining more than 50% between January 11 and January 15, DOGE dropped a further 44% to print new nine-month lows. However, there are strong indications that a strong reversal may soon be at play.

More Dogecoin news

Bitcoin: BTC may capitulate to $30,000

Bitcoin price has dropped considerably over the last three weeks. The recent downswing has made things worse for BTC and hints that a steep correction could be on its way.

Read full analysis