Bitcoin and Ethereum Momentum is Rising, But XRP Breaks the Trend

ETH is trading at $2,740 on Friday. The mild rise of 3% kept traders amidst hope. BTC follows suit. However, XRP extends its decline and faces odds

ETH price shows a mild 3% rise on Friday, keeping traders hopeful. BTC price follows suit. However, XRP extends its decline and faces odds.

Bitcoin’s price is moving towards a consolidated range now. The token has been faring between $94,000 and $100,00 for some time now. However, experts say that the consolidation phase is about to end.

Instead, Ethereum and others can grow bigger in due course. XRP and ETH are already showing growth signs. Will they stay afloat?

A promising prediction came in today. On Tuesday, Bitcoin faced a price drop. The price is sedimented around the lower boundary of the range. Cut to Thursday. The coin is up by 2.75% again.

At the time of composing the new piece, BTC is up to $98,500. If the coin grows more, market analysts would have to rearrange the stats again! The end of the most consolidating ranges is $100,000 for BTC. After that, a new high of $106,457 awaits, for January 30.

The RSI index reads 50 now. But the index is pointing upwards. It means that BTC has gained a slightly more stable momentum. But we can’t be sure of that now. Once the coin starts trading above the neural level (50), the market can be sure of that.

The MACD chart is however more hopeful for Bitcoin. It shows that a bullish crossover may happen soon. All BTC platforms have a genuine “buy” signal, flagging now.

ETH momentum is Rising Too!

Ethereum is gaining high momentum too. It means that a rally may be around the corner. However, the latest price downfall keeps viewers in doubt. On 1st Feb, the coin traded down and marked a heavy 13.87% downfall. The price closed below $3000, which hit a psychological level.

Throughout the first week of Feb, ETH continued the downward trend. Correction occurred at 9% consistently. However, the 2nd week of Feb was slightly better for the coin.

The gain was 1.2% weekly. This week is even better. The coin is up by 3% already, this week. Currently, ETH is trading at $2,756.36.

Last week, the RSI index reached 30. But that’s bounced to 44 now. However, traders and analysts say that the coin should be trading at least over 50. The daily chart for the last week on MACD also shows a bullish trend. The bottom line- is strong “buy” signals for ETH too.

Ripple Breaks the Trend

The price rally for Ripple was 14% the previous week. However, XRP has gone down below the main $2.72 support level already.

This happened on Monday. The next day, the drop was 6% more. The next day, it rose 6.8% again. However, some resistance surfaced. Today, the coin has declined 1.83% again.

So, the end note is that XRP remains highly volatile, like most of the other altcoins.