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BTC, ETH and XRP Price Analysis for October 31

Can the top altcoins outperform the rise of Bitcoin (BTC) soon?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

This weekend, the situation has changed dramatically on the cryptocurrency market. All Top 10 coins are in the green zone, while Polkadot (DOT) is the main gainer today, rising by 4.47% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

 

The crucial data on Bitcoin (BTC), Ethereum (ETH) and XRP for today:

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Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$257,281,344,851 $13,884.29 $33,032,487,994 4.06%

Ethereum

ETH

$44,233,822,497 $390.65 $12,994,372,880 2.94%

XRP

XRP

$10,985,551,972 $0.242589 $2,099,663,597 2.39%

BTC/USD

Bitcoin (BTC) has set a new all-time high at the mark of $14,100. The leading crypto has renewed the peak reached in 2019.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) is already overbought based on the RSI indicator. In addition, the trading volume is declining and the liquidity is also low, which means that there is a high chance of a correction to the closest support at $13,200 next week.

Bitcoin is trading at $13,881 at press time.

ETH/USD

Ethereum (ETH) is another gainer today. The rate of the main crypto has risen by 2.9% since yesterday while the price change over the last week has accounted for -5.41%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) is already facing a correction. The main altcoin is slowly approaching the next support at $360. There is a high chance that the level will be retested as a high concentration of liquidity is focused there. Such a scenario is relevant until mid-November.

Ethereum is trading at $392.65 at press time.

XRP/USD

XRP is the least gainer from our list today. The price of the altcoin has increased by only 2.39% over the previous 24 hours.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP has already entered the correction phase, which is confirmed by the MACD indicator located in the red zone. The long-term bullish scenario remains relevant until the rate of the coin is above the vital level of $0.21950. In case it is broken, bears will seize the initiative.

XRP is trading at $0.2431 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com