Bitcoin, Ethereum & XRP Rally: Price Predictions for the Week

23. July 2023 By admin Off

• Bitcoin (BTC) and Ethereum (ETH) experienced a mild recovery after losing 7% of their valuation the week prior.
• XRP coin price gained 6% to $0.81 on July 20 due to Ripple’s win in the lawsuit against the US Securities and Exchange Commission (SEC).
• Several altcoins, including Binance coin (BNB), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin (LTC), and Polkadot (DOT) followed suit.

Crypto Sector Picks Up 1%, Bitcoin Above $30K

The crypto sector picked up 1% on July 20, following Bitcoin’s move above $30,000 and XRP’s explosive rally. Several altcoins, including Ethereum’s Ether (ETH), Binance coin (BNB), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin(LTC), and Polkadot(DOT) followed suit.

Bitcoin Price Prediction

The flagship crypto attempted a mild 2% recovery in the previous 48 hours after losing 7% of its valuation the week prior. However, BTC is unlikely to close the New York session above the $30,000 line. Furthermore, according to several bearish technicals, $29,000 remains a likely target before the week’s end on July 23. Despite the uptick Bitcoin fell below its 20-day exponential moving average(EMA-20; red wave) as trading volumes declined. The MACD oscillator was also still in bearish zone predicting more losses ahead along with relative strength index(RSI). While price action established higher highs and flat lows RSI printed lower lows intensifying bearish expectations thus $29,000 target seems likely by end of week.

Ethereum Price Prediction

Ethereum token reached over $1,910 on July 20 following a moderate 1% upward correction identical to Bitcoin’s price action. Moreover ETH also slipped below EMA-20 hinting that token might not see any substantial uptrend before weeks through Additionally Ethereum’s RSI rang warning bells like Bitcoin’s consistently printing lower highs since Jan 2023 ETH also retested resistance at $1 930 if trading volume decline continues threatens to retest or even breach support at$1860 by end of week

XRP Rally Continues

XRP coin price gained 6% to $0 81 on July 20 The token’s move came as part of second leg up after an explosive 75%-plus surge since July 13 due to Ripple’s major win in lawsuit against US Securities & Exchange Commission SEC XRP daily price action Source TradingView com Thanks for info

Conclusion

It is too early to celebrate as several bearish technical indicators suggest that both Bitcoin and Ethereum might be headed for further losses this week while XRP looks set for another rally before next Monday thanks to Ripple’s success against the SEC