Bitcoin price is currently fighting to surpass $35,700. However, it has not been successful so far. The recent recovery that has worried investors expecting a decline now highlights the need for increased volatility. BTC is poised to make a fast move in either direction. So, what are the predictions for XRP and ETH?
Bitcoin’s Current Situation
According to CoinGlass data, the size of open positions has exceeded $16 billion. J. A. Maartunn, whom we know from CryptoQuant analysis, previously stated that such significant increases in open interest triggered a 20% drop. However, data provided by CoinShares and other sources indicate that institutional demand has not waned. Moreover, there is no significant increase in dominant short positions. This indicates that the possibility of an upward breakout is still present.
Consolidation above $36,000 for BTC could trigger rallies in altcoins that rival the bull season. As investors’ belief in reaching the $40,000 target increases, they will want to seize opportunities in altcoins.
Ethereum (ETH) Analysis
Breaking above $1,900 again, the hope of ETH investors increases. While BTC tries to break the selling wall between $35,800 and $36,000, Ether is targeting $2,000. Bears will try to reinforce this level again because it served as a tough barrier in previous events in May and July.
If the ETH/USDT pair can surpass $2,000, there could be a recovery up to $3,500, as we previously mentioned, in clear and definitive closings above $2,200. This rally would not be surprising as we have seen the price suppressed at $2,000 for a long time.
The transition to PoS, negative inflation, and increased network activity during the bull season will create a compelling story for Ether, with the size of burns reaching massive levels.
XRP Coin Price Predictions
Although XRP surpassed the $0.67 resistance on November 6th, the $0.74 barrier proved to be challenging. Just like $36,000 for BTC and $2,000 for ETH, the $0.74-0.93 regions hold the same position for a long-term bullish outlook for XRP Coin.
While short-term investors try to hinder the rise due to profit motives, the determination of BTC investors could enable the breakthrough of the $0.74 and $0.85 levels. If the final target is also surpassed, bulls will set their sights on $1.36. However, closings below $0.63 could lead to a drop to $0.6 and $0.55.
