Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Amazon News Propels Bitcoin To $40,000, Crypto Market Stays Bullish
- A new unconfirmed report says that Amazon will soon start accepting Bitcoin for payment.
- Bitcoin rallies from $34,000 but stops shy of $40,000, pulling the entire market into recovery.
- Ethereum price comes close to $2,400 but delays an expected rally to $3,000.
- Ripple price fails to hit $0.7, resulting in a correction to $0.65.
Following the massive selloff early last week, which saw Bitcoin plunge under $30,000, holding onto support marginally above $40,000, the flagship cryptocurrency has, for the first time in July, closed the gap to $40,000. The uptick in price started with BTC, but the altcoin caught up fast, with Ethereum drawing closer to $2,400.
After Ripple settled above $0.6, it spiked remarkably toward $0.7. However, a barrier prevented bulls’ from achieving the short-term goal of trading above $0.7. Dogecoin became one of the most improved crypto assets, crossing above $0.2. The meme coin’s gains were accentuated by a new Elon Musk theory that describes DOGE as money.
Amazon To Accept Bitcoin As Payment
The spike in Bitcoin price is believed to be connected to the news that Amazon, the world’s largest online retailer, will accept BTC for payments. Amazon recently advertised to fill a cryptocurrency-related job position, a listing that triggered rumors.
Consequently, On July 25, City A.M, a publication based in Britain, reported that the retail giant was preparing to add Bitcoin payments by the end of 2021. City A.M cited an insider privy to the matter:
“This isn’t just going through the motions to set up cryptocurrency payment solutions at some point in the future – this is a full-on, well-discussed, integral part of the future mechanism of how Amazon will work.”
Bitcoin will be the beginning of Amazon’s journey into crypto because the insider confirmed that other cryptocurrencies would also be supported. Some of these cryptos include “Ethereum, Cardano, and Bitcoin Cash.”
Bitcoin Price Remains Bullish Aiming For Highs Above $40,000
Bitcoin brushed shoulders with $40,000 but retreated toward $38,000 on Monday. At the time of writing, the bellwether cryptocurrency trades around $38,750 while bulls focus on gains above $40,000.
The short-term technical outlook remains bullish for BTC, with buy signals splashed everywhere. The MACD affirms the bullish outlook, calling more buyers to join the market. A daily close above $40,000 could trigger another run toward $48,000.
BTC/USD daily chart
Don't Miss: Bitcoin Price Prediction
Ethereum Price Could Be One Step Away From $3,000
Ethereum spiked in tandem with Bitcoin, with bulls securing support above $2,000. A break above the 50 Simple Moving Average (SMA) and the 100 SMA keep investor interest high. The bullish leg extended above $2,300 but stalled within a whisker of $2,400.
At the time of writing, Ethereum trades around $2,350 while bulls work around the clock to break the primary barrier at $2,400. It is worth noting that a break above $2,400 may blast Ethereum higher toward $3,000.
On the other hand, the much-expected Ethereum London Hard Fork will also be a bullish trigger for the smart contract token. Hence, Ethereum is easily among the crypto that may rally massively in the near term.
ETH/USD 12-hour chart
Ripple’s Uptrend Slows
Ripple moved sharply from the pivotal price action around $0.6 to weekly highs of $0.67. Bulls had projected to jump above $0.7, but gains are likely to be gradual with overhead pressure hovering.
The international money transfer token trades around $0.65 when writing as bulls battle to ensure higher support is established. Closing the day above $0.65 will keep the bulls’ attention on $0.7 and other higher levels.
XRP/USD four-hour chart
Meanwhile, the MACD has a hellish signal based on the four-hour chart. The call to go all-in on XRP could also keep investor appetite high. Gains above $0.7 are expected to call more buyers from the sidelines as Ripple gains traction to $1.
Read also: Will Ripple Reach $1?