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XRP Price Analysis — How Long Will $0.20 Level Hold?

Price Predictions
Thu, 06/04/2020 - 09:41
Denys Serhiichuk
Can XRP recover fast after the recent dump?
XRP Price Analysis — How Long Will $0.20 Level Hold?
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.

After a recent dump of Bitcoin (BTC) and most of the other coins, cryptocurrencies have started to recover. Mainly, all of the top 10 coins have come back to the green zone.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

A slight rise in the market has affected the total capitalization index, which added $5 Bln over the last 24 hours and is now $271.4 Bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data of XRP is below.

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $9 023 659 413

  • Price: $0.204559

  • Volume (24h): $1 349 290 320

  • Change (24h): 1.76%

The data is relevant at press time.

XRP/USD: Chances of staying above $0.20 are high

XRP has shown the least growth after the recent decline compared to Bitcoin (BTC) and Ethereum (ETH). The rise has amounted to 1.39% since yesterday.

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

On the hourly time frame, XRP is trying to come back to the zone at $0.2070 where the decline started from. However, it is unlikely to reach it soon, as sellers are still dominating over bulls based on the growing selling volume. Thus, there is not enough liquidity to move higher right now. Respectively, a more likely scenario is a correction to the area at $0.20350 to gain efforts for moving higher.

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

XRP is forming a Triangle pattern on the 4H time frame. The trading volume has been slightly rising since the fall, confirming the interest of buyers to absorb the fall and retest local heights.

Related TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?
Related
TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?

The last bearish candle has a bottom shadow which means that bulls are about to continue the uptrend. In this case, the first resistance on their way will be at $0.20830, which could be attained this week.

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

On the daily chart, the bullish mood is more visible, which is supported by the bullish divergence on the RSI indicator. Slowly but surely XRP is approaching the resistance at $0.21, which serves a mirror level. The increasing trading volume is one more factor confirming the rising forecast. If the trend continues, the aforementioned level will be attained by the end of June 2020.

XRP is trading at $0.2047 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.