Top 3 Bitcoin, Ethereum, Ripple Price Predictions: Vertical Cryptos!

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Bitcoin price increased by 6% and returned to the $20,000 price zone. Ethereum price rallies back to $1,450, a 22% increase since January 1. The price of XRP rose 3% on the day and is aiming to break above $0.40.

The crypto market has turned around and is charging north impulsively. The vertical tilt displayed could extend to much higher targets.

Has the price of bitcoin returned to $25,000?

Bitcoin price rose 6% on the day, making the trend relief rally a 20% gain since Jan. 1. The daily peak (now the biggest daily gain of the month) has turned completely vertical, breaking above a trendline that has halted previous trending attempts throughout the fall.

Bitcoin price is currently selling at auction at $20,017. Zooming out, the previous range shows converging trendlines between the June 18 low and the August 15 high as BTC price failed to break either side of the range throughout the summer and fall. Elliott Wave practitioners suggest that an “Ending Diagonal” is a possible explanation for the containment range.

If the recently crossed trendline is part of a final diagonal pattern (typically found near market reversals), bullish target areas could be the final point of origin above the August high. , which would result in an additional 25% upside from the price of Bitcoin today.

A Fibonacci retracement level from the bullish crossover of the 8-day exponential moving average and the 21-day simple moving average at $16,655 and the $25,000 high shows resistance levels at $20,430 and potentially $21,440. These levels could act as temporary resistance points before BTC eventually moves towards the predicted target area.

BTC/USDT 1-day chart

The invalidation of the trend is subject to interpretation. Day traders could place their stop loss below the trendline at $17,000, while the conservative Elliott Wave would be a breach below the 2022 low at $15,476.

Ethereum price is in profit

Ethereum price confirmed the bullish bias mentioned throughout the winter and hit the sweet spot at $1,450. Since the start of the month, analysts have been calling for a potential challenge to the $1,400 barrier after ETH broke through the $1,230 support zone.

Ethereum price is currently trading at $1,458. Traders participating in the bull trade are well off as ETH is now bolstering a 22% gain since Jan 1. The next key targets are near $1,600. The price zone is a critical liquidity level that has remained untagged since ETH surged from $1660 to $1073 in the first week of November.

ETH/USDT 1-Day Chart

The invalidation of the trade idea could be placed below the pivot point of $1,344 established during the recent trend. A barrier break could induce a larger retracement targeting the $1,250 area as support. The price of ETH would fall by 15% if the bears succeed.

XRP price finally takes off

The price of XRP continues to rise as the bulls are up 3% per day, taking the ongoing rally to a 29% increase in market value since January 1. billion transactions were recorded on all exchanges during XRP’s 7% rise. The spike in volume is a positive affirmation to suggest the bulls’ enthusiasm and the early stages of a much larger bull run.

XRP price is currently selling at auction at $0.384. Unlike BTC and Ethereum, the Relative Strength Index has yet to break out into overbought territory above the 70 level on the daily time frame. Breaking above 70 would be an ideal bullish signal to suggest that Ripple is rolling out a larger impulse wave. Since it has not broken through the barrier yet, the price of XRP could be bound to the trading range, placing a ceiling above the current uptrend potential.

Since the trend has turned vertical, just like ETH and BTC, XRP might be lagging in terms of time rather than strength. Therefore, the conservative bullish target of $0.44 (mentioned in the previous outlook) still has a good chance of being marked.

XRP/USDT 1-Day Chart

The first evidence of an uptrend failure could be a break of the recently crossed 8-day exponential moving average at $0.35. A low tag could induce a second attempt at the $0.30 low, resulting in a 20% decrease in the current market value of XRP.

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