TOP 3 Price Analysis: BTC, ETH, XRP — How Likely Are New Local Peaks?

Price Predictions
Thu, 05/28/2020 - 14:02
Denys Serhiichuk
Which coin, out of Bitcoin (BTC), Ethereum (ETH) and XRP, could grow the most in the current bullish trend?
Cover image via www.tradingview.com

The cryptocurrency market has accumulated enough power to set new local peaks. However, the rise does not apply to all coins from the top 10 list. Most of them have grown by less than 1% over the past day.

Top 10 coins by Coinstats

Take a look at the key data for the top 3 coins.

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$173 011 126 061

$9 409.03

$31 992 937 685

3.15%

Ethereum

ETH

$23 433 051 560

$210.89

$10 247 110 659

1.83%

XRP

XRP

$8 730 321 597

$0.197909

$1 546 126 303

-0.57%

BTC/USD 

Bitcoin (BTC) has continued its price blast. Growth over the past 24 hours has amounted to 2.81%. At the moment, the main crypto has absorbed almost all of the decline from the past week.

BTC/USD chart by TradingView

On the 4H chart, Bitcoin (BTC) has broken out of the consolidation zone and continued growing to the closest resistance at $9,600. Even though the liquidity is low, the trading volume is rising, which a good signal in terms of a continued rise. If nothing critical changes and buyers can consolidate at the current zone, the $9,600 mark will be attained by the end of the week.

Bitcoin is trading at $9,406 at press time.

ETH/USD

Ethereum (ETH) is performing worse than Bitcoin (BTC) in the current rise. Its rate has risen only 1.31% since yesterday.

ETH/USD chart by TradingView

Although Ethereum (ETH) has shown less growth than Bitcoin (BTC), it still has the potential to rise. Currently, the price increase is support by high liquidity as well as trading volume. In this case, the closest area in which bulls might incur problems is the 261.8% ($215) level of the Fibonacci retracement. If buyers manage to break this, the bullish trend will hold.

Ethereum is trading at $209.78 at press time.

XRP/USD

XRP is trading as it usually does in phases of growth, falling against the rising market. The decline over the past day has amounted to 0.96%.

XRP/USD chart by TradingView

XRP is still being dominated by bears on the 4H time frame. Lowering heights are forming, which is a signal of continued decline. Also, there is low liquidity in the current area, which is not good for bulls. Summing up, traders can expect XRP to reach $0.19 shortly. The only alternative would be if buyers seize the initiative and the trading volume increases. 

XRP is trading at $0.1965 at press time.

 

About the author

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@u.today.

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