According to CoinMarketCap, buyers maintain their dominance in the market as the week kicks off. BTCC Academy brings you this article detailing the current market trends and buyer behavior.
- BTC vs USD?
- ETH vs USD?
- XRP/USD: A Rising Star?
- Will XRP Overcome Sub-$1 Challenges?
- Will XRP Hit $1? Price Projections Revealed
BTC vs USD?
Bitcoin (BTC) has appreciated by 1.36% over the past 24 hours. With the current trading price at $68,629, investors are eyeing the nearest resistance level of $69,425 on the daily chart. A close around this mark, without a significant wick, could indicate a potential breakout, paving the way for a surge towards the $70,000 mark.
ETH vs USD?
Ethereum (ETH) is currently trading at $2,511, showing a slight gain of 0.76% compared to Bitcoin’s performance. Technically, ETH’s price remains distant from resistance levels. If the market maintains its current trajectory, sideways trading within the $2,450-$2,550 range is expected to prevail by the end of the day.
XRP/USD: A Rising Star?
XRP is currently trading at $0.5155, showing a slight increase of 0.11%. However, the daily chart indicates that bears are dominating over bulls. Market watchers predict that if XRP breaks below the interim zone of $0.50, it could potentially test the support level of $0.4860 by the end of this week. Traders are advised to stay vigilant for any significant price movements.
Will XRP Overcome Sub-$1 Challenges?
In the aftermath of the SEC vs. Ripple lawsuit ruling, which clarified XRP’s non-security status, the cryptocurrency briefly surged to $0.93 in July 2023. However, XRP encountered significant resistance, thwarting its attempt to reach the elusive $1 milestone. To achieve this target within the upcoming six to twelve months, XRP must overcome several key resistance points on its price chart. Initially, the coin needs to surpass the Pivot level at $0.6211 on the weekly chart, potentially triggering a bullish trend that could fuel its ascent. A breakthrough at this level could spark increased buying interest, bolstering the necessary momentum. Following this, XRP will face another challenge at the upper Donchian Channel line, hovering around $0.6650. This resistance line has consistently limited XRP’s upward movement, demanding significant upward pressure for a breakthrough. Lastly, XRP must conquer the $0.8686 mark, representing the final major hurdle before reaching the coveted $1 price point.
XRP is fighting hard to stay afloat below the $1 mark. If it manages to break through, the road to $1.0215 could be open, marking a significant milestone for the crypto as it firmly establishes itself above the dollar threshold.
Will XRP Hit $1? Price Projections Revealed
Multiple analysts have recently predicted a significant surge in the price of XRP, suggesting that it could hit $1 within various timelines. Altstreet Bets, for instance, forecasted last month that XRP is poised to reach this milestone before the year’s end. Similarly, The Crypto Basic hinted in August that the digital asset might be on the cusp of reclaiming the $1 mark during a period of multiple breakouts. Analyst Steph also chimed in, arguing that an inverted head and shoulders pattern indicated an upcoming run to $1.1. Meanwhile, Future Trends has set ambitious price targets for other leading cryptocurrencies as well. They anticipate a substantial increase in the value of Bitcoin (BTC), currently trading at $66,928, projecting it to reach approximately $100,000 in the next year, marking a 49.4% rise. Ethereum (ETH) is also expected to see a remarkable surge, with Future Trends predicting a 143.9% jump from $2,460 to $6,000. These bullish predictions paint a optimistic picture for the crypto market, with XRP and other top assets poised for significant growth in the coming months and years.
With an expected 80.4% surge, experts predict Solana (SOL) could hit $300, a significant jump from its current price point of $166.26.
