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BTC, ETH, XRP Price Analysis — Bitcoin Is Touching $11,000. Can ETH and XRP Follow Its Growth?

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    Bitcoin keeps trading above $10,000. Can Ethereum and XRP come back to their resistance levels soon?

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Contents

August 20 has started for Bitcoin with sharp growth, it rocketed to the levels above $10,900 on some exchanges. However, the top coins have ignored the price rise of BTC, only Monero and Bitcoin SV out of the top 10 list located in the green zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Bulls could not seize the initiative and the price of the leading crypto is going back to $10,500. Altcoins are declining even faster, pushing BTC’s dominance index back to the 69.1% mark. 

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$190 411 549 836

$10 645,44

$15 353 656 152

-0,54%

Ethereum

ETH

$21 153 182 190

$196,96

$5 978 722 739

-1,79%

Ripple

XRP

$11 787 220 266

$0,274820

$1 124 887 035

-4,16%

BTC/USD

Our earlier Bitcoin price prediction came true and BTC could fix above $10,500 and almost touched $11,000.

BTC/USD 4-hour chart
BTC/USD chart by TradingView

On the 4H chart, Bitcoin is likely to remain bullish until the end of August, which is confirmed by a rising MACD indicator. However, BTC might face one more correction throwing it back to the support at $10,400. The falling RSI is also signaling of an upcoming decline. If such a scenario comes true, Bitcoin should reach $11,000 until August 25.

The price of BTC is trading at $10,646 at the time of writing.

ETH/USD

The chief altcoin also followed our recent forecast and the price did not go below the $175 mark. Currently, Ethereum is losing around 2% compared to its yesterday rate.

ETH/USD 4-hour chart
ETH/USD chart by TradingView

Ethereum has successfully bounced back from the support level, however, could not fix at the $200 mark. According to the Fibonacci retracement, ETH is located below $200 (38.2%), suggesting that the price is about to grow soon. In this regard, Ethereum is going to overcome the crucial level at $200 and might reach $207 (50%) until the end of August.

The price of ETH is trading at $197.29 at the time of writing.

XRP/USD

Our Ripple scenario has not justified itself yet, as the price is located above $0.2450. At the moment, it is the biggest loser compared to Bitcoin and Ethereum. Its rate has declined by 5% over the last 24 hours. 

XRP/USD 4-hour chart
XRP/USD chart by TradingView

On the 4H chart, XRP is showing bullish tendencies, followed by the rising trading volume. The lines of the MACD indicator are also moving upwards. However, before, the price is likely to locate near the level at $0.27 for a short period. Such a scenario comes true if Bitcoin does not show sharp growth. If the leading crypto keeps rising, XRP will go below $0.25.

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Forbes Crypto Expert: Oversold XRP Is Good to Buy Now, Further Drop Is Unlikely

Forbes Crypto Expert: Oversold XRP Is Good to Buy Now, Further Drop Is Unlikely

The price of XRP is trading at $0.2735 at the time of writing.

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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 make 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.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.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.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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