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

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto markets cling to the idea of a bullish breakout

Bitcoin price is slowing down as it sticks close to a crucial support level with no volatility in sight. Ethereum and Ripple are following the big crypto’s lead and consolidating, showing no directional bias whatsoever.

More Bitcoin News

Dogecoin Price Prediction: DOGE set to dip another 15%

Dogecoin (DOGE) is under siege by bears as price action books a fourth consecutive day of losses. DOGE bulls are being pushed up against support at $0.16, which goes back to July 20. If global markets sentiment does not change, more downside is in the pipeline for DOGE, with a dip towards $0.13.

More Dogecoin News

Sandbox price finds stable support as SAND readies to rebound

Sandbox price is bouncing off a confluence of support, suggesting that an uptrend is likely. Investors can expect SAND to face a minor blockade before reaching the next significant hurdle.

More Sandbox News

Cardano price bullish reversal pattern could launch ADA toward $1.96

Cardano price has sliced above a crucial resistance barrier, which validated a bullish chart pattern. However, momentum declined as ADA retraced slightly, testing a critical line of defense before the Ethereum killer targets bigger aspirations.

More Cardano 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