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May 25, 2020
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Guide & Analysis

Price forecast: Bitcoin, Ethereum and XRP

BTC / USD: Bitcoin could reach $ 10,000 before halving

Bitcoin is hovering below $ 9,000, unable to eliminate resistance amid growing market uncertainty and anxiety before halving. US-China tensions add more fuel to the fire and make traders less inclined to open long-term positions.

Instead, many market participants prefer to cash out once their positions turn green.

Bitcoin’s correlation with the S&P 500 is back on the agenda, as settlement in the cryptocurrency markets coincided with the resumption of the bearish moment on U.S. stock exchanges. However, eToro experts believe there is a chance that BTC will exceed $ 10,000 before BTC even halves.

Ethereum price analysis: ETH bears must fight for $ 193.00 to the last drop of blood

The ETH / USD pair hit an intraday low of $ 195.17 and rebounded to $ 199.50 at the time of this publication. The second largest digital asset attempted a recovery above $ 219 on Sunday, May 3, and has been trading with bearish bias ever since. The ETH / USD pair has lost more than 6% in the last 24 hours and 4.5% since the start of Monday.

Currently, 35% of Ethereum addresses are in cash. About 1.63 million addresses with 3.36 million ETH have their breakeven point in the range of $ 202 to $ 216. Once this area is cleared, the positive moment can gain momentum with the next focus on recent high, at $ 227.36.

ethereum eth chart

Ripple’s price analysis: Are buyers still with XRP?

Ripple fell globally on Monday, but it has been a rebound from the 55-period exponential moving average. Technically, the chart is still optimistic, as the trend is still firm on an upward trend. The only issue is that there are now two lower high waves, but support for the 0.21 low psychological wave is holding steady at the moment.

Looking at the indicators, there was a clear increase in volume marked by the circle. This points to a buyer market until there is a wave of sales with greater volume. It looks like the bulls are still in charge.

xrp ripple chart

Source: FXStreet

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