Although Bitcoin is pushing multi-month highs, XRP isn’t. The cryptocurrency is trading at $0.205 — over 10% shy of its $0.245 monthly high — while Bitcoin is trading a mere 3% below its $10,100 monthly high, data from TradingView.com shows.
It’s too soon to expect XRP to rebound against Bitcoin though, multiple crypto analysts say, pointing to the fact that the digital asset has slipped below key support levels.
XRP Isn’t Looking Too Hot, Analysts Agree
XRP’s recent inability to match Bitcoin’s gains has caused the XRP/BTC pair to fall below a crucial price level that held as support twice over the past year.
According to a top crypto trader, this opens up the cryptocurrency to a final capitulation that will bring it from around 2,200-2,300 satoshis to 1,500 satoshis over the course of the next month. Such a move would mark a drop of around 30%.
Chart from Credible Crypto (@CredibleCrypto on Twitter)
The assertion that XRP is going to drop towards the 1,500 satoshi range has been echoed by Mohit Sorout — a founding partner at crypto investment fund Bitazu Capital. He also indicated that the loss of the recent support level is likely to send the asset down to the aforementioned level.
“XRP broke down from a year long range. Short from 2200. Wouldn’t be surprised to see this at 1500 before June ends,” he explained.
All Altcoins Are Poised to Underperform
While it may seem that analysts are singling XRP out, the consensus is that all altcoins are poised to underperform against Bitcoin.
Per previous reports from Bitcoinist, Josh Olszewicz, a crypto analyst at Brave New Coin, observed on May 15th that Bitcoin’s dominance chart printed a textbook signal of strength: a golden cross. Bitcoin dominance is the percentage of the crypto market made up of BTC.
In this case, the 50-day moving average crossed above the 200-day moving average of the Bitcoin dominance chart — which tracks what percentage of the crypto market is made up of BTC.
Previous golden crosses on Bitcoin’s dominance chart preceded massive rallies in Bitcoin against altcoins like XRP, as can be seen below, suggesting the same is likely to happen again.
Chart from Josh Olszewicz (@CarpeNoctum on Twitter), a crypto analyst at Brave New Coin. The chart is of Bitcoin’s dominance printing a “golden cross” formation.
This bearish outlook on altcoins as a whole was echoed by the lead technical analyst at crypto research firm Blockfyre, who shared last week that “altcoins are really going to struggle” and have “max pain” ahead of themselves.
“ETH heading for levels not seen since 2016. LTC trading below 2014-2016 prices. XRP heading for levels from 2014, 2016, and 2017. The alt market looks like it could capitulate soon. Seems like the worst is yet to come but afterwards should provide huge opportunities,” the same analyst added in a more recent comment postulating that the short-term outlook for non-Bitcoin cryptocurrencies is bearish.
Featured Image from Unsplash origin »
Quick Take In the recent EU trading session, Bitcoin’s value showed an upward trend, eventually breaking past the significant threshold of $38,000, setting a new year-to-date high at $38,100, up roughly 2% on the day.
Stocks have gone very green today. Footsie up 3.8%, Dow has just began trading and is up 3.4%, oil is nearing a high since it collapsed, while gold is down....
The post Bitcoin Led Stock Rally on “No Limit” Fed Comment appeared first on Trustnodes.
Bitcoin’s price has retracted after coming close to breaching $10,000, while a positive outlook from the Federal Reserve comes as Gold hits its highest price level in seven years Bitcoin came close to breaching $10,000 in early morning trading on Monday, as buyers pushed the coin to $9,966 on Bitstamp.
Leading up to the third block reward halving, a key aspect of Bitcoin's market was high volatility. Merely a day before the supply cut event, the price dropped to $8,100-level before rebounding and coThe post Bitcoin trading: Examining higher frequencies with nascent markets not always profitable appeared first on AMBCrypto.
Bitcoin was finally able to recapture its position above $9,000 after an extended period of trading beneath this level The cryptocurrency now appears to be gearing up for a big push higher as it maintains a firmly bullish market structure This bullishness could be further bolstered by its recent ability to break above a descending trendline that had previously been guiding it lower After making multiple attempts to break back above $9,000, Bitcoin buyers were […]
Binance is approaching an all-time high in new user registrations as it continues to expand around the world facilitating crypto trading in different jurisdictions as more countries ease their regulatory framework to adapt quickly to this new era.
High trading fees is one of the most irritating aspects of using crypto exchanges for the average trader. Now you can enjoy a crypto exchange experience with zero fees
Bitcoin rallied from $3,800 to $10,000 in two months of volatile trading. The maligned cryptocurrency outperformed its hedging rival Gold on a year-to-date timeframe. Gold underperforms as its correlation with the S&P 500 index grows to an 18-month high.
EOS entered a corrective phase on Apr. 30 that has seen its price retrace over 27%. The smart contracts token went from trading at a high of $3.1 to hit a low of $2.3. Despite the significant bearish impulse, data shows that large investors are accumulating EOS on every dip. If history repeats itself, this...
Today has been extremely volatile for Bitcoin breaking above $9,000 just to crash in the next few hours. We are seeing a 1% price move on 1-minute candlesticks all the time. However, even after such high volatility Bitcoin is still trading around $8,500, the midpoint between $9,200 and $8,000 basically. Looking at the 1-hour chart, […]
The Bitcoin price has reached an important resistance line which has been in place since the price reached an all-time high in December 2017. Well-known trader @PostyXBT tweeted a Bitcoin price chart that shows that the price is trading at a very critical resistance level.
Bitcoin and cryptocurrencies have experienced a massive surge over the past 10 days. After trading in the $7,000s for weeks on end, BTC finally saw a breakout to $9,500 just last week, since settling into a consolidation pattern a few percentage points shy of the high.
Interest in Bitcoin is exploding in Africa on the eve of the halving event. Volume on P2P exchanges has broken past the previous high made in 2017. Bitcoin trading volume on P2P exchanges is rising higher and higher in sub-Saharan Africa.
Bitcoin futures platforms have recently attracted all-time high open interest. However, of the large numbers trading the contracts at various exchanges, one demographic is prohibited from contributing to the figures.
The Bitcoin price has been decreasing inside a bearish pattern since April 30. At the time of writing, the price was trading near $8,900. With the third BTC halving projected to occur on May 12, Google search interest for the event is at an all-time high, a value more than four times the previous all-time […]
The post Crypto Price Analysis May 5: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK appeared first on BeInCrypto.
In times of high volatility, even slight delays in deposits on crypto exchanges can ruin the best trading strategy. bitFlyer USA addresses this issue in a new release
Coinspeaker Bitcoin Price Below $9K, Morgan Creek Digital Co-Founder Targets $10K before BTC HalvingBitcoin (BTC) is trading below $9,000 at around $8,800 as the halving is getting closer with a high level of price uncertainty.
Last week, bitcoin went as high as nearly $9,500 only to drop back down to $9k level. Much like February, we weren’t able to sustain above $9,000 and went to $8,500. At the time of writing, BTC/USD has been trading around $8,750, down 2.
Bitcoin’s hash rate momentarily reached an all-time high of 140 Eh/s during trading on Sunday. However, the rate dropped sharply thereafter falling back to 131 Eh/s, under the previous ATH of 135 Eh/s on April 14.
Bitcoin is just half a day into this week, but the cryptocurrency is already off to a bad start. As of this article’s writing, BTC is trading at $8,600 — just shy of 10% below last week’s high around $9,500 and 4% lower than where the asset started the week.
XRP, currently trading at only $0.223, would seem underpriced to many, however, according to various analysts, XRP is in fact, overpriced. This definitely comes as a surprise considering the digital asset had a massive 68% price drop from February 15 to March 13 and still currently a 93% drop since its all-time high. How can […]
Key Highlights BSV/USD market has struggled to reach a high point around $240 in a range-bound formation. There hasn’t been a clear sign to suggest a change in the current trading cycle. BSV/USD market is bound to enter another upper range territory above $240 mark in the next trading sessions. Bitcoin SV (BSV) Price Analysis […]
Ethereum is following a strong bullish path above the $200 support against the US Dollar, similar to bitcoin. ETH price is likely to continue higher towards the $240 and $250 levels. ETH price corrected lower from the $227 high, but found support near $202 against the US Dollar. It is currently rising and trading with...
Bitcoin is trading in a solid uptrend above the $8,400 and $8,800 support levels against the US Dollar. BTC is rising and it looks set for a larger rally above $9,500 and $9,800. Bitcoin corrected lower from the $9,480 swing high and tested the $8,400 support zone. It is likely to continue higher and it...
Bitcoin spiked over $1,000 to hit a high of $9,455 against the U. S. dollar but has corrected lower in early Asian trading hours. · The intraday price surge was BTC’s best 24-hour move in the past two months.
Ripple rallied to a new monthly high at $0. 2358 before correcting gains against the US Dollar. XRP price is now trading above the $0. 2100 support and likely to start a fresh increase. Ripple price declined sharply after it failed to surpass the $0.
Bitcoin's price, after a period of consolidation, broke out of the $7k range to shoot directly to $9k. This tremendous spike in BTC's price transpired over the course of 29 April and continued onto eaThe post Bitcoin Options trading spikes to new high after dreadful crash appeared first on AMBCrypto.
Trading near a seven-year high, gold is heading for its biggest monthly gain since 2016 as central banks ramp up the stimulus to keep up the economy after being damaged by the coronavirus pandemic. Gold rallied in 2020 as investors sought safe haven amidst the unprecedented monetary stimulus sparked concern about currency debasement. The bullion […]
Cryptocurrency markets are bullish on April 29, as BTC prices have spiked over 11. 8% in the last 24 hours touching a high of $8,740 per coin during Wednesday’s trading sessions. Bitcoin has gained 130% in value since the market rout on March 12 otherwise known as ‘Black Thursday.
Bitcoin has come out roaring after starting the week without lacking any momentum. It was further off the back of days of sideways trading. The latest move sees Bitcoin break above its immediate resistance of $8K and further extend this to break its higher high of $8.
Bitcoin has risen above $8,400 before trading at $8,300 at the time of writing. Making it a new high since the crash last month. All other major cryptos are also...
The post Bitcoin Nears $8,500 While Stocks, Oil, Everything Turns Green appeared first on Trustnodes.
Bitcoin has paused around the $7.8K price level. The largest digital coin has since reaching this high began trading sideways. Speculators have as a result begun moving to altcoins. In the last 24 hours, this has been shown with some of the investors’ preferences having made substantial moves upwards. In the last couple of hours, […]
Cryptocurrency markets are radiating an irresistible lure for all kinds of speculators and traders with high risk tolerance. SimpleFX is just the right platform for this type of speculators as it offers up to 500x leverage on some trading pairs while still allowing withdrawals in actual cryptocurrencies (unlike many other similar platforms that issue IOUs […]The post SimpleFX Review 2020 – Spreads, Leverage, Demo & More appeared first on CaptainAltcoin.
Ethereum 2.0 has so far failed to propel the largest altcoin above $200-mark. However, it achieved a positive momentum and was currently trading in the $190-area close to the monthly high. Ethereum miThe post Ethereum anticipates positive breakout as correlation with Bitcoin continues to rise appeared first on AMBCrypto.
The crypto market is back to enjoying greens, having recovered much of the losses recorded on Black Thursday. In 2020, the second-largest network is outperforming Bitcoin. Trading above $7,500 Bitcoin is up about 3% YTD while Ether is recording returns of over 48% trading at $193.
Trading volume for Bitcoin futures posted a major spike yesterday as the Chicago Mercantile Exchange (CME) saw its highest trading volume in a month. CME Bitcoin futures are booming again after a drastic drop in March, according to skew (@skewdotcom).
Bitcoin trading has hit a new all-time high in Argentina. The crypto-asset has seen an immense increase in popularity among the Argentinians as the country looks at a potential default on almost $70 billion in foreign debts.
In a sudden and strong move today, the world’s leading digital asset surged as high as $7,756 on Bitstamp. Currently, BTC/USD is trading above $7,500, up 2. 55% YTD. Following bitcoin, altcoins surge higher as well, with Stellar in the lead with nearly 18% gains.
In the past 20 minutes, Bitcoin has rocketed higher. After trading around $7,000 for most of Wednesday, the cryptocurrency started to rally, hitting a local high of $7,770 just minutes ago — 9% higher than the weekly open and a more impressive 14% higher than the weekly low. This was a move that surprised crypto...
On April 22, the Bitcoin (BTC) price increased considerably from a low of $6818 to a high of $7158. This created a bullish engulfing candlestick. However, the price failed to move above an important resistance level that would otherwise indicate that the current trend is bullish.
Maybe it’s too early to say, but it looks like Bitcoin is stubbornly refusing to be dragged along by the recent plunge in crude oil prices. It was back trading in the $7,000s on Wednesday, which brought relief to many traders who were fearing the worst after the price had retreated to the high $6,000s.
Bitcoin has been trading sideways between $6,500 and $7,400 for over two weeks now. Yesterday, the digital asset suffered a 4% price loss with some continuation today after breaking below both daily Exponential Moving Averages.
The price of BTC decreased considerably on April 20. While it initially reached a high of $7,220, the price began a rapid downward move shortly after, reaching a low of $6,751. Yesterday’s decrease caused the price to fall back within the $7,150-$6,650 trading range.
The demand for stablecoins has reached record levels, prompting the world’s largest producer to keep on minting them. Tether has hit an all-time high in terms of market capitalization and has been trading at a premium on some exchanges.
The world's third-largest cryptocurrency, XRP, was trading at $0.190, at the time of writing. Despite modest recovery efforts, XRP has so far failed to regain its lost 2020-highs. That being said, XRPThe post Ripple indices stay positive as XRP/AUD liquidity index surges to new high appeared first on AMBCrypto.
Despite the overarching risks of an economic recession, Bitcoin has performed well over the past few weeks, rallying higher and higher over week after week, shunning off bearish narratives. In fact, since the $3,700 bottom, the cryptocurrency has gained over 80%, reaching as high as $7,500 but now trading at $7,050 as of the time of this article’s writing.
XRP stood firm as crypto markets took a beating on Tuesday. Most coins fell hard, but XRP avoided hitting new lows. Market watchers now wonder if the altcoin might recover faster than other cryptos.
Renowned trader and market commentator Jacob Canfield (@JacobCanfield) has identified XRP as the standout performer among altcoins, sharing a price chart on X that underscores the token’s recent momentum.
Analysts continue to believe in the potential price surge of XRP, predicting that it is still feasible that the crypto will hit the $3 mark. Related Reading: No Sweat! Dogecoin Will Hit $5 ‘Very Easy’ In 2025 – Analyst A market observer even claimed that XRP is on track for a massive price rally in the ongoing digital asset bull market as many cryptocurrencies are hitting all-time highs due to the positive outlook on the industry.
The XRP price recently surged to a three-year high of $1. 6, marking a significant milestone in the cryptocurrency’s recent bullish rally. This remarkable price movement has garnered the attention of many analysts as investors continue to project the trajectory of the price.
Crypto analyst Dark Defender (@DefendDark) has issued a bullish forecast for XRP, projecting a price surge above $5. 85 based on a confluence of technical indicators and chart patterns. Despite recent market stagnation, the analyst highlights several key factors—including the application of Elliott Wave theory—that suggest a significant upward movement is imminent.
On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day.
On-chain data shows the total number of sharks and whales on the XRP network has seen a sharp increase recently, a sign that could be bullish for the asset’s price. XRP Sharks & Whales Have Witnessed Their Count Go Up Recently According to data from the on-chain analytics firm Santiment, the shark and whale wallets have registered a notable jump over the past five weeks.
