Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC Hits Pause, XRP Leads Altcoins’ Winning Streak

Last Updated August 12th 2021
3 Min Read
  • Bitcoin price holds above $45,000 but bears capped upward movement under $47,000.
  • Ethereum price suffered rejection at $3,260, cutting short the uptrend aiming for $4,000.
  • XRP surges 15% after GME Remittance partnered with Ripple to utilize RippleNet.

Bitcoin seems to have stalled after aggressively lifting above $40,000 last week and extending the bullish leg close to $47,000. The bellwether cryptocurrency failed to crack the resistance as bears drew the line at $47,000. However, bulls have been keen to keep BTC above $45,000, thus prevent significant trimming of the accrued gains.

Meanwhile, some altcoins continued with the uptrend despite BTC’s sluggish price action. For instance, Ripple climbed above $1 for the first time since early June. As reported on Thursday, the upswing in XRP has been connected to partnership news between Ripple and GME Remittance.

Although Ethereum had cracked the barrier at $3,200 on Wednesday, its bullish momentum faded at $3,260. A 2.6% correction has been incurred in the last 24 hours, with Ether teetering at $3,150 at the time of writing.

Some selected altcoins carried on with the recoveries from the beginning of the week, including Cardano. Crypto enthusiasts expect ADA to surge as the network upgrades the protocol to support smart contracts functionality on Friday.

Bitcoin Price Remains Sluggish But For How Long?

The sudden mundane trading comes after Bitcoin failed to slice through the barrier at $47,000. A correction came soon after, with the flagship cryptocurrency losing ground toward $45,000.

Meanwhile, Bitcoin is trading at $45,467 while bulls work around the clock to resume the uptrend before the week’s trading comes to a halt. The 200-day Simple Moving Average (SMA) currently braces the immediate support, making it difficult for sellers to trim more gains toward $40,000.

Investors should be aware that a golden cross pattern may soon appear on the daily chart. This is a highly bullish index that forms when the 50-day SMA crossed above the 200-day SMA. Hence, it is imperative to say that Bitcoin’s uptrend is far from over and will resume for another take on $50,000 and higher levels.

BTC/USD Daily Chart

 BTC/USD Daily Chart 081221

Don't miss: Why Bitcoin Will Skyrocket

Ethereum Price Correction Begins

Ethereum briefly stepped above $3,200 on Wednesday, a barrier that had for a few days given bulls sleepless nights. The move evoked interest among investors as a trigger for another upswing toward $4,000. However, bulls lost momentum shortly after running to $3,260.

A correction followed immediately, and buyers are yet to take complete control. Meanwhile, Ether is trading at $3,157 amid a bearish building momentum.

The Moving Average Convergence Divergence (MACD) on the 12-hour chart could add credence to the pessimistic outlook in the coming sessions. A sell signal will emerge as the 12-day EMA crosses below the 26-day EMA, compelling sellers to offload the token.

Support is expected at $3,000, which could see another uptrend start to build. If push comes to shove, Ethereum may revisit another major anchor area at $2,745, as shown on the chart.

ETH/USD 12-Hour Chart

ETH/USD 12-Hour Chart 081221

 Check Out: Will Ethereum Make Me Rich In Ten Years?

Ripple Bulls Fight To Stay Above $1

XRP shined on Thursday as it closed the gap to $1 for the first time since early June. The cross-border money transfer token has, in the last few weeks become increasingly attractive to investors.

In addition to the generally up-trending crypto market, the increased appetite toward XRP has been fueled by Ripple’s move to expanding remittance services to new markets and key strategic partnerships like the most recent with GME Remittance.

In the meantime, XRP is in the hands of the bulls despite the stalling at $1. The MACD confirms the bulls in the cockpit as it moves higher above the mean line. A tangible break is expected as soon as XRP makes headway toward $1.2 and $1.4.

XRP/USD Daily Chart

 XRP/USD Daily Chart 081221

XRP must close the day above $1 to keep investor interest high. Otherwise, most holders will begin to sell the news as skepticism mounts regarding the sustainability of the uptrend. On the downside, support is expected at the 100 SMA and the 200 SMA, respectively.

Read Also: Why Ripple Will Skyrocket

Top Brokers in
    All Regulated Brokers
    67% of retail clients lose money when trading CFDs with this provider.