Bitcoin, Ethereum, XRP Weekly Wrap – September 14, 2024

2024-9-15 00:00

Bitcoin (BTC), Ethereum (ETH), and XRP reacted well to the overall market conditions these past few days. 

BeInCrypto has analysed the current stance of the big three crypto assets and where they could be heading from this point.

Bitcoin Continues Its Ascent

Bitcoin’s price has surged by 8.89% over the past week, forming a right-angled descending broadening wedge pattern, a technical indicator that often suggests a breakout is imminent. If this pattern holds, Bitcoin could potentially rally by 27.6%, reaching $91,410. Achieving this level would be a significant milestone and could validate long-term bullish predictions for the cryptocurrency.

However, a more conservative target lies at the upper trend line of $71,600, which is a more realistic short-term goal. Bitcoin recently bounced off the lower trend line, and flipping $60,000 into a solid support level is crucial to sustaining this uptrend.

Read more: Bitcoin Halving History: Everything You Need To Know

Bitcoin Price Analysis. Source: TradingView

Should Bitcoin fail to establish a safety net at $58,986, the price could tumble further, bringing $55,883 into play as a critical support level. This scenario would invalidate the bullish outlook and signal a potential downturn in Bitcoin’s current price action.

Ethereum Is Taking a Bullish Shape as Well

Ethereum is trading at $2,418, bouncing off the support at $2,344. This rather crucial support floor when last tested in August, resulted in the altcoin king jumping to $2,681. A similar move is expected from ETH over the coming days.

The next barrier for the cryptocurrency lies at $2,546 and breaching it would enable a rise to $2,681. Breaking this resistance level is unlikely given the current momentum but it would at least keep ETH from testing the downtrend line as support again.

Read more: How to Invest in Ethereum ETFs?

Ethereum Price Analysis. Source: TradingView

But if Ethereum’s price fails to breach $2,546, a drop to $2,344 again is likely. This would bring ETH back into a short-term consolidation and also invalidate the bullish thesis.

XRP Takes the Lead

Amongst the big three, XRP price managed to stand as the best performer as it rose by 12% in the past week. This brought the altcoin back above the 38.2% Fibonacci Retracement line, marked at $0.55.

The Ripple native token is now closer to breaching the resistance at $0.60, which coincides with the 50% Fib line. Flipping it into support would mark a three-week high for XRP price, enabling further rise.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

XRP Price Analysis. Source: TradingView

But a failed breach of this resistance would dissipate the bullish momentum formed in the last few days. Rising selling pressure could further worsen the situation bringing XRP price to $0.55, and invalidating the bullish outlook.

The post Bitcoin, Ethereum, XRP Weekly Wrap – September 14, 2024 appeared first on BeInCrypto.

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$ 0.5834 (+0.09%)
Объем 24H $1.133b
Изменеия 24h: -0.13 %, 7d: 0.63 %
Cегодня L: $0.5811 - H: $0.5853
Капитализация $32.922b Rank 7
Цена в час новости $ 0.5928 (-1.59%)

xrp bitcoin ethereum 2024 weekly wrap september

Источник: beincrypto.com

xrp bitcoin → Результатов: 126


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2024-6-5 22:30


Early Bitcoin Adopter Says XRP Price Is Closer To $10 Than You Think – Here’s Why

A Bitcoin adopter has outlined the various achievements of XRP, foreseeing a significant price increase for the cryptocurrency that could move it closer to the $10 milestone.  Bitcoin OG Says XRP $10 In Sight In an X (formerly Twitter) post, Bitcoin OG, Lucky predicted that the value of XRP could significantly appreciate, pushing closer to […]

2023-10-28 19:00


The Great Exodus: Why Are Japanese Investors Choosing XRP Over Bitcoin?

A recent study has revealed that Japanese investors are choosing to invest in Ripple’s XRP over the world’s flagship cryptocurrency, Bitcoin.    XRP Over Bitcoin And Ethereum In contrast to the treatment Ripple and the XRP token are receiving in the US, Japan seems more welcoming to the crypto asset, according to a research paper by the Department of Economics and Finance at the City University of Hong Kong.

2023-9-16 19:00


Фото:

XRP is the only major altcoin underperforming against Bitcoin, so is a rally inevitable?

In comparison to other leading altcoins like EOS, Cardano (ADA), and Ethereum, XRP is still lagging behind bitcoin even after an 80 percent rally against the USD since the first week of January. Analyst says XRP should be higher than where it is now According to Luke Martin, the price of XRP should be 11 […] The post XRP is the only major altcoin underperforming against Bitcoin, so is a rally inevitable? appeared first on CryptoSlate.

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