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XRP Price Analysis — Analyzing Chances of Reaching $0.20 This Summer

Price Predictions
Fri, 07/03/2020 - 14:28
Denys Serhiichuk
Is the current slow growth of #XRP the start of a possible bullish trend revival?
XRP Price Analysis — Analyzing Chances of Reaching $0.20 This Summer

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. 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.

Cover image via www.tradingview.com

Neither buyers nor sellers are dominating at the moment. While Bitcoin (BTC) and Ethereum (ETH) are in the red zone, EOS has risen 2.12% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The ongoing sideways trading trend is negatively affecting the capitalization of the cryptocurrency market. Its index has lost $3 Bln since yesterday.

Market Capitalization
Market Capitalization

The relevant data for XRP is as follows.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $7,827,784,883

  • Price: $0.176868

  • Volume (24h): $1,032,060,191

  • Change (24h): 0.31%

The data is relevant at press time.

XRP/USD: Steady growth possible in the second half of summer?

Yesterday, XRP was not able to break the upper limit of the side range in the form of a two-hour EMA55. In the afternoon, sellers increased pressure and the pair rolled back to the $0.172 area.

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

During the Asian session, buyers tried to correct the situation, but the volume of purchases was below the average level and it was not possible to return the pair to the moving average EMA55. Today, it is possible it will continue to decline to the support at $0.17.

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

On the 4H chart, XRP has started rising after a prolonged consolidation phase. The coin is about to break through the top of the channel, which is backed by the Bollinger Bands indicator. In this case, the support XRP could reach is $0.1810. The only concerning thing is low trading volume.

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

On the daily time frame, bulls have become stronger. However, they do not have enough strength for a bullish trend revival. Even though the trading volume is falling slightly, buyers have not yet seized the initiative. As such, trading in the yellow range between $0.1750 and $0.18 is the most likely price forecast.

XRP is trading at $0.1768 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.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. 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.

Cover image via www.tradingview.com

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

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

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

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

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

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

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 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.