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BTC, ETH, XRP Price Analysis—Have Bears Already Seized the Short-Term Initiative?

Which crypto out of Bitcoin (BTC), Ethereum (ETH) and XRP can start the correction wave faster than the others?

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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.

The weekend has begun with a trend change on the cryptocurrency market. Almost all of the Top 10 coins are in the red zone except for Bitcoin (BTC), whose rate has risen by 0.03% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The key Bitcoin statistics for today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$203,308,910,479 $10,993.42 $27,054,361,900 0.03%

Ethereum

ETH

$43,127,086,504 $382.81 $14,029,468,920 -1.32%

XRP

XRP

$11,249,789,779 $0.249760 $2,078,752,497 -1.76%

BTC/USD

The current week for Bitcoin has been more positive than the previous one, as the price of the chief crypto has gone up by almost 7% over the last seven days.

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

On the daily chart, Bitcoin (BTC) has reached the resistance level at $11,200. The short-term rise started from $10,000 and is about to finish as the trading volume is not enough to hold the ongoing growth. The same is applied to the liquidity, which is in the high area of $9,500. In this case, traders may expect a price drop of Bitcoin (BTC) next week to $10,000 or even below this crucial mark.

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Bitcoin is trading at $11,073 at press time.

ETH/USD

Ethereum (ETH) has also been bullish for the past week; however, the rise was not so sharp. The rate of the leading altcoin has increased by 4% since the beginning of the week.

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

From the technical point of view, Ethereum (ETH) has already started the correction phase. It may retest the $400 mark one more time. However, the price is unlikely to fix above it as the bulls' power is not sufficient. That is why next week is expected to be bearish for Ethereum (ETH), with the nearest target of $353 serving a key support level.

Ethereum is trading at $384.68 at press time.

XRP/USD

XRP is not an exception to the rule as the altcoin has also located in the bullish zone this week. Growth by 3.89% has occurred.

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

Analyzing the XRP chart, the rise might have come to an end as the buying volume is declining. Thus, there is a bearish divergence on the RSI indicator that supports a further drop.

👉 MUST READ XRP Price Analysis—Analyzing Growth Potential to $0.27related article image

In case of a false breakout of the $0.2596 mark, the price decrease will lead XRP to the support at $0.24 soon.

XRP is trading at $0.2518 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