Ethereum

Rally

Convergence

Divergence

The post <a href="https://coinpedia.org/price-analysis/bitcoin-ethereum-and-xrp-price-prediction-has-the-bull-rally-resumed/" rel="noopener noreferrer nofollow">Bitcoin, Ethereum, And XRP Price Prediction: Has The Bull Rally Resumed?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The cryptocurrency market has displayed a bullish recovery after trading under a bearish sentiment for four consecutive days. Moreover, the market leader BTC price has recorded a jump of 4.38% within the past day with a trading volume of $36.70 Billion, a change of -27.89%.
Following this, the altcoin leader, Ethereum Price, has recorded a similar trend by successfully reclaiming the $3,000 mark by adding 4.27% within the past 24 hours. On the other hand, Ripple’s XRP price has jumped 7.92%, indicating an increase in the buying pressure.
With the rising price volatility in the cryptocurrency market, are top tokens on the verge of a major bullish reversal? Dive in as, in this article, we have covered the in-depth market sentiments and price analysis of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) for the upcoming week.
<h2 class="wp-block-heading" id="h-bitcoin-btc">Bitcoin (BTC):</h2>
The <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin price</a> has recorded a correction of over 16.5% this week, making it the biggest single-week drop since June 2022. Moreover, the market leader has failed to breach its resistance trendline, resulting in it dropping close to its support trendline of the channel pattern.
Furthermore, the BTC price is on the verge of testing its crucial low, the outcome of which is unpredictable.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfgBl5wrWa6QgFH-92Ce9CjIxcgB3pcMczXu69VY4EQIriejnXB5XkY_xFuN3lZtDv3vVsdef4HE00K4wnkRb4QRl76rfZbegTE6LvNeumM0NymRDII1m1oEfvHnucHq3YvddZQVLyOuK5Wx0BGObx1M4Om?key=CXjZXCzNAnfkdP7Q9-N5fw" alt="Bitcoin Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: BTC/USDT
 </figcaption>
</figure>
The Moving Average Convergence Divergence (MACD) displays a constant rise in the red histogram, indicating increased selling-over-buying pressure within the crypto space. Moreover, the averages show an increase in the bearish sentiment, suggesting a negative outlook over the weekend.
The SMA indicator has constantly acted as resistance to the <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC price</a> chart since the start of June, highlighting a long-term bearish sentiment for the star crypto in the market.
If the bulls hold the Bitcoin price above the support trendline of the channel pattern, it will prepare to head toward its resistance level of $60,819.50 in the coming time. Conversely, bearish price action could result in the BTC crypto plunging below its crucial support level of $55,000 this month.
<h2 class="wp-block-heading" id="h-ethereum-eth">Ethereum (ETH):</h2>
Despite recording a jump of approximately 5% over the past day, the <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">Ethereum price</a> has lost 11.17% within the past week and 21.77% over the past 30 days, indicating a long-term bearish sentiment for the ETH token in the crypto space.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeOK0Yy2JJ1BZcjN7CSu1qHg8quKfZqTL-h2s7wSoEHt6C2my9ndr4y5HOwH3Q_w-3TKmLEtX6QjjOfynR8k72Ti086r3zHNh3sLwIiRtt7PlTSAx9RS3k-ueDyQw9U5iDVkMOZ7INlOxVFmqfSFwz1LwjA?key=CXjZXCzNAnfkdP7Q9-N5fw" alt="Ethereum Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: ETH/USDT
 </figcaption>
</figure>
Moreover, the Ethereum price has continued to trade within a descending channel pattern since mid-May, indicating a strong bearish sentiment in the crypto market. Further, the <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noopener noreferrer nofollow">ETH coin price</a> is hovering close to its support trendline and is on the verge of testing it, the outcome of which is uncertain.
The Relative Strength Index (RSI) has displayed a bullish curve below the oversold range, highlighting increased price action for the Ethereum crypto in the market. However, the average shows a constant decline, suggesting the altcoin leader will continue losing momentum.
If the market holds the ETH price above its crucial support level of $3,020, the bulls will regain momentum and prepare to test its upper resistance level of $3,400 in the coming time. Negatively, if the bears continue to dominate the market, it will plunge toward its low of $2,625 during the upcoming weeks.
<h2 class="wp-block-heading" id="h-ripple-xrp">Ripple (XRP):</h2>
With the ongoing cross-border market correction, the <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Ripple price</a> has recorded a 13-month low of $0.3977. Moreover, despite recording a jump of 8%, the altcoins have lost 8.83% within the past seven days and 17.29% over the past month.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc1gRjWmkpLdOLD0Ohp-ghITBnvpFM_TBf9URXQH48u-SWUSDyiD8QJT0zsClNsmNWe0gGzFtupxmvuex7f2cPuzNOrXq4H2DO2XaHvrxEKV7GUU5749CqiQZLD-da7iAo5l7hw-XlcJscXgYVAvkXUAtbM?key=CXjZXCzNAnfkdP7Q9-N5fw" alt="Ripple Price Analysis">
 <figcaption class="wp-element-caption">
 TradingView: XRP/USDT
 </figcaption>
</figure>
The EMA 50-day constantly acts as a resistance to the price chart in the 1D time frame, indicating a strong bear influence in the cryptocurrency market. Moreover, the <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> has continued to trade within its channel pattern since mid-April, highlighting a weak bullish sentiment.
The technical indicator, MACD, has recorded a significant rise in the red histogram with its averages displaying a sharp downtrend. This highlights increased uncertainty in the future price action of the XRP token.
If the market experiences an increase in the bullish sentiment, the Ripple price will head toward its resistance level of $0.480. However, if the bears continue to dominate the market, the XRP coin price will plunge toward its low of $0.360.

Bitcoin, Ethereum, And XRP Price Prediction: Has The Bull Rally Resumed?

Table of Contents

CoinPedia News

Other articles published on Jul 6, 2024

Qubetics Whitelist Offers Hope as Algorand and Polygon Fail to Deliver on Promises

Have the Expected Whales in Bitcoin Returned? What's next? Price Exceeded $58,000!

Bitfinex to refund failed El Salvador hotel offering to clients

MoonBag Referral Programme Gains Investors’ Trust While Stacks and Dogwifhat Face Scepticism

Power Browser Integrates with OKX Wallet for Enhanced User Experience

Top 5 Altcoins Under $5 to Buy in July 2024’s Crypto Market Correction

Join our free newsletter for daily crypto updates!