Can altcoins go up faster than Bitcoin (BTC)? Analyst Denys Serhiichuk evaluated the status of Bitcoin, Ethereum and XRP. Here is the BTC, ETH and XRP analysis for you.
Since some of the coins are in the red zone, the bears’ initiative seems to have taken over the last day of the week. However, there are some exceptions to this situation. Basically, the XRP rate has risen 10% since yesterday.
Bitcoin (BTC) rate has increased by 0.40% in the last 24 hours. On the daily chart, Bitcoin (BTC) failed to break the resistance at $55,800 and stabilize above it, meaning the bulls have not accumulated enough energy for a while.
In this case, the more likely scenario for the next week is for it to trade sideways in the $53,000-55,000 range. Low trading volume confirms the current weakness of buyers.
Bitcoin was trading at $55,316 at the time of writing.
Ethereum (ETH) failed to follow the rise of Bitcoin (BTC) and has dropped 1.2% since yesterday. Etheruem (ETH) is also sitting in the side channel between the $3,491 support and the $3,677 resistance. Despite today’s slight correction, neither bulls nor bears dominate at the moment. If buyers can reach $3600, there are high chances of seeing $3700 next week.
Ethereum was trading at $ 3,523 at the time of writing.
XRP became the biggest winner of the list today due to the 11% price increase.
XRP almost touched resistance at $1.24. The rise is not accompanied by a high trading volume, meaning that buyers may not have accumulated enough energy for an exit. In turn, a retest of the region around $1.10 can be expected to gain more strength to sustain growth. Such a scenario is valid until the end of next week.
XRP was trading at $1.17 at the time of writing.