While uncertainty continues in cryptocurrencies, attention has turned to Bitcoin, the leader of altcoins Ethereum, and XRP, which is at the center of the Ripple-SEC lawsuit. In the last 24 hours, Bitcoin and Ethereum have shown a stable outlook, while XRP has been performing much better than expected.
Bitcoin Comments
Bitcoin’s price had dropped by over 11% last week. This week, however, BTC shows a positive outlook supported by a 2.5% increase. The declines in BTC had caused the price to fall to $54,400.
On the other hand, attention was on the BTC price. After a 1% increase in the last 24 hours, BTC is trading at $58,026.
Charts indicate that BTC could rise to the $58,847 resistance and potentially reach $60,000. If the expected scenario occurs, Bitcoin’s price could escape the $50,900 level that might form after a double top formation.
Ethereum Price
Attention has also turned to a recovery in Ethereum. In recent months, Ethereum’s price had risen below $4,000 but then fell to the $2,900 region.
ETH has a support level at $3,000. The first level to overcome for ETH seems to be reclaiming $3,346 as support.
Given market conditions, Ethereum’s price may not reach $3,300. The $3,200 level could be critical during this period.
The region indicating the 23.6% Fibonacci retracement level in the above chart remains a support, making $3,000 an important price. However, losing this level could invalidate the entire bullish outlook.
XRP Coin Future
A big surprise occurred on the XRP side, showing movements beyond the market. XRP’s price does not follow the trajectory of BTC and ETH. In the last week, XRP has grown by over 8%, surpassing the $0.46 level and maintaining it.
If XRP surpasses the $0.47 level, it could regain the level seen in the last drop, which could please investors. On the other hand, a potential rise to $0.50 could trigger consolidation below the $0.51 region for a while.
However, if the price does not stay above the $0.46 level, it could pull back to $0.42.
