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XRP Price Analysis — Expecting to See $0.15 Followed by Roll Back

Price Predictions
Thu, 06/25/2020 - 10:28
Denys Serhiichuk
How long will the rise of XRP last?
XRP Price Analysis — Expecting to See $0.15 Followed by Roll Back
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 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.

The market has entered a short-term bearish wave after the major coins could not hold above their local peaks. All of the top 10 coins are under bear pressure while the top loser is the recent gainer Ethereum (ETH), whose rate has dropped by 3.63% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also affected the price action of the coins. The drop has made up around $11 Bln over the past day.

Cryptocurrency capitalization
Cryptocurrency capitalization

The relevant data for XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $8,133,447,398

  • Price: $0.183774

  • Volume (24h): $1,125,854,816

  • Change (24h): -1.38%

The data is relevant at press time.

XRP/USD: Has the recent growth ended?

Active sales yesterday triggered a sharp drop of the XRP price. Until the end of the day, the pair rolled back to the low zone of last week while the drop has constituted 1.38% since yesterday.

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


In the Asian session, buyers tried to restore the price from the minimum zone, but this morning the decline continued. In the near future, the pair might reach the upper limit of the declining purple corridor and consolidate in the support area of $0.17.

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

On the 4H time frame, XRP has bounced off the support level of $0.1785. The trading volume is at medium levels, which means the current bounce back is just a correction of the fall, followed by a continued decline. In this regard, the growth might continue to the mirror level of $0.1850. The potential of an ongoing rise is confirmed by the RSI indicator, which has formed a bullish divergence. However, we should consider this short-term growth and not the start of a new bullish wave.

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

The daily chart shows that nothing has changed yet - bears are getting stronger with every drop. The lines of the Bollinger Bands indicator are dropping which means that bears are not going to give bulls the initiative. The trading volume has also continued slowly falling. After the ongoing bounce completes, XRP may reach the next support located near $0.1740 where a high concentration of liquidity is focused.

XRP is trading at $0.1830 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?
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 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.

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.