{[{item.pair.split("_")[0]}]} ${[{item.price.toFixed(4)}]}

{[{item.change24}]}%

{[{item.change24}]}%

Bitcoin, Ethereum, and XRP Top 3 Price Predictions

Bitcoin, Ethereum, and XRP

October 12, 2020 | 

JOHN K MWANIKI |  0 Comments| 

1145 Views

Share:

Get Into Cryptocurrency Trading Today

October seems to be the time of mixed market movements. Most of the coins are on sideways movements. Bitcoin and Ethereum are both struggling to hold. They, however, have the possibility of higher movements. 

XRP is on a bullish run. It still also faces concerns about overbuying. 

Here is the in-depth analysis of the top 3 Bitcoin, Ethereum, and XRP price predictions. 

Bitcoin, Ethereum, and XRP: Bitcoin Holding Below $11k

Bitcoin has had a slow past few months. The digital currency started the year on the highs only to reduce to $3k. It then embarked on a bull run through the month. It successfully beat the $10k resistance level in this period. It has struggled to beat it the new levels above $12k. 

The coin started the month below the $11k market. Even though it threatened a possible bounce, it failed at the support levels of $10800. It had a Relative Strength Index (RSI) above the midline, explaining the higher support levels. 

The trendlines on the technical analysis have been showing a sustained decline. The coin has been losing ground. It seems headed to the areas below the $10k. Still, there is the option of $1200 working as the new support level. It would not easily go below the levels. 

There is a market fear if the coin would run below the $10k. It is likely to lead to a massive coin sale. Most traders don’t want to make losses. They would be looking to sell the coin when still above the USD10k mark. 

The only saving grace for the leading virtual currency is on increased market activity. 2.1 million addresses purchase over 1.4m BTC. The sustained market activity would see the coin rally back to the over $10800 level. This is a bullish run from the current $10660. 

The volatility of Bitcoin stays sideways. It can either go down or up depending on the market activity. It can take either slump to the support of $9655 or climb to the resistance levels.  

Bitcoin, Ethereum, and XRP: Ethereum on a Bearish Run 

The Ethereum party seems to be over. The coin has had a very active financial year. 

The smart contract crypto became a revelation with the Defi coin boom. It is the operational platform for decentralized finances. It performed better than any other cryptos in the year. 

It, however, could not manage the demand for long. The platform became too congested, with transactions taking longer to verify. The market had to go on a correction. The period has seen a sustained decline in the coin from September. 

It declined from over $400 to hit $360 within the last week of September. It then reached $335 before rallying back to $350 within the first weekend of October. It has, however, experienced selling pressure in the market. The pressure has seen it get to the current $340$. 

There is also a possible bullish run with the coin. It has to pass the new resistance levels of $360. Beating the resistance would promote user confidence in the coin. This will lead to more purchases as the coin gets past $400. 

The major concern for the coin is the lack of a reliable support level. If it were to realize the bearish movement, then it will go below $300. Its main support level is around $298. 

Even though the coin has a possible, sideways move, either movement will be massive. 

Bitcoin, Ethereum, and XRP: Ripple Holds to the Bull Run

Ripple (XRP) has had an active entry to the month. The coin has been on a bullish run from $0.22. It has then passed the other vital levels at $0.23 and $0.24. It currently trades at $0.28. 

Even though the coin is all good, the RSI shows a worrying indication. It shows the possibility of the coin being oversold. This points to a possible decline in the case of a market correction. Still, the sideways run means it has the possibility of hitting $0.28. 

XRP only needs to keep the current levels for the 50-day SMA. After this, it will have the only option to keep the bull run until $0.28. 

The possibility of the bull run has led to increased demand for Ripple. Traders have been expanding XRP portfolios throughout the last month.  Sentiment reports an increased number of traders with 10k – 100k XRP from 97,484 to 100,680. The accounts holding more than $100k XRP has also been a rise in the same period. 

XRP, like any other commodity, is subject to laws of demand and supply. A sustained demand will see it improve in value. The increased volume overflow can support the uptrend in the future.

Bitcoin, Ethereum, and XRP: Other Coins Market Movement 

There is more to cryptos other than Bitcoin, Ethereum, and Ripple. The general cryptocurrency world seems to have a mixed October. Some of the heavy losers within the month will be the Defi coins. The coins like Yearn. Finance (YFI) has declined by around 34% in the first week of October. This is followed by Uniswap (UNI) having fallen by 22%. 

The other cryptocurrencies are regaining after the news of US authorities charging Bitmex. The crypto exchange platform is accused of allowing illegal trading of the Bitcoin derivatives. There are also claims that it violated other anti-money laundering regulations.

The cases affected the cryptos as traders withdrew more than 25% of the assets from the platform. The platform reached trades of new lows with even lower liquidity. Still, other exchanges like Binance and Gemini might have gained in the process. The digital currency market is beginning to return to normalcy. 

The cryptos might also have felt the effects of Donald Trump testing positive for Coronavirus. The stock market reacted with a massive decline after the news. The president has announced he has gotten back well and defeated the virus. The market has similarly regained

Bitcoin, Ethereum, and XRP Final Thoughts 

For a long time, Bitcoin dictated the market movement for the other coins. An increase in Bitcoin would mean a real market upturn. Most of the coins have become independent. While Bitcoin is struggling to hold above the $11k mark, Ripple is on a bullish run. The XRP is attracting new users, with asset holders updating their portfolio. 

Ethereum is on a sideways move threatening to blow either side. Both the support and resistance levels are way from the current rates. The movements show an active crypto market

Buy & Sell Cryptocurrency Instantly

Share:

COMMENTS

0 Comments

Like this article

CREATE ACCOUNT

Have an account? Login

LIVE RATES

ALL

TRENDING

Total Market Cap The Total Market Capitalization (Market Cap) is an indicator that measures the size of all the cryptocurrencies.It’s the total market value of all the cryptocurrencies' circulating supply: so it’s the total value of all the coins that have been mined.

{[{ marketcap }]} {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H) {[{ marketcapchange.toLocaleString(undefined, {maximumFractionDigits:2}) }]}% (24H)

Symbol

Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting all the data from several exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current price and the price24 hours ago.

Trade

{[{ item.pair.split('_')[0] }]}

Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

TRADE

Showing {[{ showing }]}

Symbol

Price Cryptocurrency prices are volatile, and the prices change all the time. We are collecting allthe data fromseveral exchanges to provide the most accurate price available.

24H Cryptocurrency prices are volatile… The 24h % change is the difference between the current priceand the price24 hours ago.

Trade

{[{ item.pair.split('_')[0] }]}

Ƀ{[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]} ${[{item.price.toLocaleString(undefined, {maximumFractionDigits: 5}) }]}

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

{[{ item.change24.toLocaleString(undefined, {maximumFractionDigits: 2}) }]}%

TRADE

Showing {[{ showing_trend }]}

WHAT'S NEW

NEWS

REVIEWS

BROKERS

WALLET