Top 3 price prediction BTC, ETH, XRP: Central bankers link the future to blockchain projects


  • Tunisia performs a test transfer with its new digital currency.
  • Ethereum takes advantage of a weak Bitcoin and can knock it out.
  • XRP is failing to react to positive news that comes from Ripple Ltd.

The Governor of the Central Bank of Tunisia has carried out a pilot transfer of CDBC or e-Dinar. Russian ICO startup Universe has provided technical assistance to the pilot test

The race towards the tokenization of sovereign currencies has begun a long time ago, but it finally enjoying its time in the sun. China has announced its intention to create an e-Yuan, and also in Europe, institutions are considering the matter.

The case of the US is different – and for now – its central bank is observing from the sidelines. It seems that, once again, it will be the private sector that will lead the technological revolution in the world's largest economy.

Crypto market weakness.

Last Friday the bearish forces were conjured up and managed to beat the $9,000 support level in the BTC/USD pair. The weekend interval had a balsamic effect, but Monday has brought with it a reactivation of the bearish momentum in the leading crypto actives.

The current winner is the Ethereum, which manages to stay above the critical level of $180. Besides, it accumulates gains against Bitcoin of more than 7% in the past week.

The technical indicators of volatility are still far from extreme levels, but the emotional tension of the market players is noticeable in every corner of this cryptoverse.

 

ETH/BTC Daily Chart

The ETH/BTC pair is currently trading at the price level of 0.0212 and continues the bullish trend that began in early September. 

The relative gain in value comes from the side of Bitcoin's more significant weakness against Ethereum, but for active traders, the performance at stake is essential.

Above the current price, the first resistance level is at 0.022, then the second at 0.023 and the third one at 0.0236.

Below the current price, the first support level is at 0.0206, then the second at 0.020 and the third one at 0.019.

The MACD on the daily chart increases the positive slope and also the opening between the lines. Soon the indicator will reach the zero level, and we will be able to evaluate the real strength of the Ethereum against Bitcoin correctly.

The DMI on the daily chart shows how the bears lose the ADX line and confirm that the ETH/BTC pair has a massive bullish trend ahead.

 

BTC/USD Daily Chart

The BTC/USD pair is currently trading at the $8.692 price level and is marking a new relative low in the short term. The current scenario remains active above the $7,500 price level as support, and at $9,650 as resistance.

Above the current price, the first resistance level is at $8,800, then the second at $9,150 and the third one at $9,650.

Below the current price, the first support level is at $8,400, then the second at $8,200 and the third one at $8,000.

The MACD slightly increases the bearish profile but with limited bearish potential. The close presence of support at the zero lines and the slight slope indicate a high probability of bullish turn in the short term. 

The DMI on the daily chart shows how the two sides of the market are on a collision trajectory. The result is uncertain, although the statistics are on the bear's side.

 

ETH/USD Daily Chart

 

The ETH/USD is currently trading at the $186.23 price level, narrowly losing the SMA100 but still retaining the support of the EMA50. The weakness of Bitcoin and XRP can quickly spread.

Above the current price, the first resistance level is at $187, then the second at $190 and the third one at $195.

Below the current price, the first support level is at $180, then the second at $170 and the third one at $160.

The MACD on the daily chart shows a total loss of the bullish momentum, but it does cross downwards. The indicator moves above the zero line, and it is difficult for it to drill down if it does not increase the bearish profile.

The DMI on the daily chart shows the bulls dominating the ETH/USD pair, although the bears keep the chances of fighting for leadership alive.

 

XRP/USD Daily Chart

The XRP/USD is currently trading at the $0.272 price level and is deepening at the bearish momentum of the Ripple Ltd token.

The continuous news in favour of the parent company's business seems to affect the XRP quotes negatively.

Above the current price, the first resistance level is at $0.28, then the second at $0.285 and the third one at $0.289.

Below the current price, the first support level is at $0.27, then the second at $0.268 and the third one at $0.26.

The MACD on the daily chart increases the bearish profile and attacks the supporting zero level in the session. Losing this level would add pessimism to the current situation.

The DMI on the daily chart shows a bear rally leading to the XRP/USD pair. The bulls try to maintain the right level, but the closeness of the ADX line can make it difficult for them.



Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

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

Why is the market falling today?

The trading week is coming to an end, and the crypto market leaders seem to be inviting people to go on holiday and come back in a few weeks to see if anything has happened by chance. The current low volatility is never comfortable for the active trader, aware that today's extreme calm is the prelude to an explosion of instability in the future.

More Bitcoin News

ADA/USD regains ground after sharp sell-off, further recovery is limited

Cardano (ADA) lost over 6.5% of its value on Thursday as the cryptocurrency market moved into red territory. At the time of writing, ADA/USD is changing hands at $0.1228 after a short-lived move to $0.1181.

More Cardano News

ETH/USD succumbs to selling pressure and drops to $230 after major Twitter hack involving crypto

Ethereum has dropped to $230 after a significant sell-off following the recent Twitter hack. The attacker targeted all major cryptocurrency exchanges followed by prominent figures...

More Ethereum News

XTZ/USD drops like deadweight

Tezos is among the digital assets in the cryptocurrency market suffering in the hands of the bears. A reversal is underway with bulls scampering for support at $3.00. 

More Tezos News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP