XRP Poised For More Growth After Brief Correction, Bitcoin Touches Crucial $9000 Zone, and Ethereum Loses 11%

According to a critical analysis of the crypto charts, as of yesterday May 30, the prices of most of the top coins began to rise further. Some notable mentions include XRP, Dogecoin, and Bitcoin with the price of the later reaching the critical $9,000 zone. BTC didn’t consolidate at that position. After enjoying good growth levels, Ethereum became one of the biggest losers today as it went down by 11%.

The recent action in the crypto space took $30 billion away from the entire market cap of cryptos over the day. Let’s look at the performance of XRP, Bitcoin and Ethereum.

Bitcoin (BTC) Price Today – BTC / USD

NamePrice24H %
bitcoin
Bitcoin(BTC)
$42,161.00-0.15%

XRP Price Prediction 2019: The Price of XRP is Looking Towards Growth Despite Correction – XRP Price Forecast

Even though the XRP token underwent a short-lived price correction, the current position of the digital asset is that it is heading towards growth. A critical technical analysis confirmed such a suggestion.

Fortunately, during the correction, the price of XRP did not go under $0.40. This means that the scenario was supposed to be bullish at least in the first hours of the month of June. The MACD pattern has found the bottom already and its lines are now looking upwards. We can also apply this same pattern to the RSI which has moved over the oversold region. Hence, if there happen to be any further decline in the price of XRP, it is safe to say that XRP could reach $0.44 between now and June 2-3.

According to data given by coin market cap, the price of XRP was trading at $0.4197 as of the time this content was published.

Bitcoin Price Prediction 2019: The Price of Bitcoin Touched the Crucial $9,000 Position – Bitcoin Price Forecast

Our previous Bitcoin price prediction didn’t materialize. The quotes didn’t stop at $8,450. It went more in-depth. Bitcoin’s dominance increased by a few points, as other assets began to look worse than the leading asset class.

Bitcoin moved back to its position from 5 days ago. There was nothing critical in the long-term, only a correction. RSI is set to break the oversold position, which suggests that the price of Bitcoin wouldn’t go under $7,900.

Another confirmation is the prevailing long positions over shorts. Traders can look forward to a bounce back to $8,450 which will be the nearest resistance.

According to data given by coin market cap, the price of Bitcoin was trading at $8,229 as of the time this content was published.

Ethereum Price Prediction 2019: The Price of Ethereum Lost 11% Today – Ethereum Price Forecast

If the price of Ethereum was rising above others yesterday, it is falling faster than most other coins today. Even the news relating to Tether and Ethereum blockchain couldn’t stop the price of Ethereum from dropping.

Via the hourly chart, the price of Ethereum was trading in a descending channel. It is probably going to go deeper.

Currently, the price of Ethereum located above $250. Now it is looking most likely to go down towards $235 to $245. There are no technical signs showing the movement below the $235 position. The MACD line is about to change from bearish to bullish. Hence, for the short-term, the price of Ethereum is coming back to $260 until June 6-7.

According to data by coin market cap, the price of Ethereum was trading at $254.32 as of the time this content was published.

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.