Back

BTC, ETH, XRP Price Analysis for 09/08

Which crypto (Bitcoin (BTC), Ethereum (ETH), and XRP) has a better chance of maintaining growth?

article image
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.

With the last day of the week, the cryptocurrency market continues to rise as most of the Top 10 coins are in the green. The only exception to the rule is XRP, whose rate has gone down by 0.10% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 Coins by CoinMarketCap

Below is the key information for Bitcoin (BTC), Ethereum (ETH), and XRP:

Name

Ticker

Market Cap

Price 

Volume (24H)

Change (24H)

Bitcoin 

BTC

$215,736,752,085 $11,689.51 $18,466,275,179 0.46%

Ethereum

ETH

$44,334,466,218 $395.47 $10,284,568,325 3.68%

XRP

XRP

$13,150,839,615 $0.293136 $1,358,894,618 -0.41%

BTC/USD 

Bitcoin (BTC) could not stay above the $12,000 mark, confirming a high probability of a price drop below $11,000. The rate for the leading crypto has increased by 3.19% since last week.

Ads
Ads

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

Looking at the 4H chart, Bitcoin (BTC) is slightly declining against the decreasing trading volume. At the moment, there is a low probability of seeing a reversal and a run to $12,000. On the Relative Strength Index (RSI), a bearish divergence has formed, which considers the ongoing drop. If the trading volume does not change and the liquidity remains the same, then BTC may inch closer to the $11,400 level by next week.

At press time, Bitcoin was trading at $11,685.

ETH/USD 

The rate for Ethereum (ETH) has increased much more since last week than Bitcoin (BTC). The price change has constituted an increase of +3.19%.

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

However, the bearish sentiments have started to appear. The trading volume also continues to decline, which means that a possible drop will likely happen soon. The long-term bullish scenario remains relevant; however, a correction is needed to gain enough strength for the further price rise. Applying the Bollinger Bands to the chart, the drop may continue to the support line at around $375. Such a price action is relevant through the end of the month.

At press time, Ethereum was trading at $11,716.

XRP/USD 

XRP is the only crypto from the Top 3 list that is located that has been located in bearish territory for the last 24 hours. In terms of a price change from last week, the rate for XRP has remained relatively unchanged. 

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

XRP is trading similarly to Bitcoin (BTC) and Ethereum (ETH) as the short-term scenario also remains bearish. Since the beginning of May, the third most popular altcoin has been located within the falling channel and there are no prerequisites for a trend change.

👉 MUST READ XRP Price Analysis for 08/07related article image

Thus, the buying trading volume remains at its lowest level. If XRP cannot push towards $0.30 and fix above it within the next few days, then the bears will push it back to $0.2783 by the end of the month.

At press time, XRP was trading at $0.2929.

 

Subscribe to CryptoComes.com on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

article writer image
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