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Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Investors prepare to sell on ETF news

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  • Bitcoin price is under a cloud of uncertainty as history could repeat itself for Bitcoin.
  • Ethereum price at the mercy of the Bitcoin Futures ETF catalyst.
  • XRP price continues to face fundamental uncertainty with the SEC and technical weakness.

Bitcoin price has historically sold off during the opening of any new derivative futures contract. Will this behavior continue? Ethereum price struggles to cross above the critical $4,000 level and may be held back pending any Bitcoin weakness. XRP price remains in a technical bear flag but is approaching a key time cycle that could trigger explosive price action.

Bitcoin price has its first Futures ETF approved by the U.S. SEC

Bitcoin price has risen significantly since the beginning of October – but can it continue? The Tuesday trade session is the first day of the first Bitcoin futures ETF (NYSE ticker: BITO) to be approved by the SEC. The ETF approval is a strong signal that Bitcoin is just one step closer to becoming a more legitimized asset class and one step closer to an actual spot-priced ETF approval in the future.

BTC/USD Daily Ichimoku Chart

History, as they say, repeats itself. Every prominent derivative listing for Bitcoin, starting with the CBOT futures contract, the CME futures contract, and the Bakkt futures contract, resulted in solid selling pressure for Bitcoin price. Traders and investors are looking out for this kind of behavior to continue. Any sign of weakness or close near $60,000 could trigger some swift selling pressure for Bitcoin.

Ethereum price maintains near-term support, awaits Bitcoin’s move

Ethereum price continues to consolidate after hitting the $4,000 value area on October 16th. The Tenkan-Sen at $3,700 has been tested considerably over the past two trading days and continues to hold as support. Ethereum has a vested interest in Bitcoin maintaining or exceeding its current valuation, as the direction will likely dictate where Ethereum will go. Bulls look for a close at or above $4,000 to push towards new all-time highs.

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ETH/USD Daily Ichimoku Chart

However, any move below the dominant interior trendline (black diagonal line) could trigger short-selling pressure. Given the strong trend higher, traders will want to watch Ethereum price on October 20th – the date of the next Kumo Twist in the Ichimoku Kinko Hyo system. Kumo Twists are often catalysts for corrective moves or broad trend changes, specifically when an instrument has been trending strongly near the date of the Kumo Twist. A close below $3,600 could trigger a move to test $3,000 as support.

XRP price continues to look weak, Ripple under threat of a sell-off

XRP price had a particularly bullish fundamental event: Fox Business’s Charlie Gasparino interviewed Ripple CEO, Brad Garlinghouse. Garlinghouse focused primarily on the ongoing legal drama with the SEC, but his overall tone was positive and resolute. Unfortunately, however, XRP failed to entice any positive response or price action. There was almost no response by buyers.

XRP/USD Daily Ichimoku Chart

Current technical conditions warn of an impending sell-off. XRP price has one final support zone within the Ichimoku system at $1.05. $1.05 is where the Kijun-Sen, Senkou Span A and Senkou Span B have a shared value area. A close at or below $1.04 would put XRP below the Cloud and all other Ichimoku support levels. Bears are likely to take over in that event and push towards the prior support zone near $0.84.

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If bulls desire to take control of the market, then XRP price needs to close above $1.18 before it can make new all-time highs. 

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XRP explodes more than 44% from flash crash lows, move to $2 upcoming

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  • XRP price was annihilated during the Saturday flash-crash.
  • Massive recovery post-sell-off is likely a sign of reversing fortunes for XRP.
  • Follow through by bulls necessary to regain momentum higher.

XRP price action was sitting on the precipice of an impending flash-crash long before Saturday’s sell-off occurred. The price levels XRP hit for the lows were expected as well. A new uptrend for XRP is likely to start next week.

XRP price collapsed from $0.92 to $0.57 but managed to close at $0.85

XRP price is positioned for a massive rally post-flash-crash. The daily and weekly candlesticks have likely developed one of the most substantial bear traps in XRP’s history. FOMO will be piling into this cryptocurrency very soon, especially if XRP returns to the $1.00 value area.

Because XRP has already triggered the price levels previously forecasted, the move has been made, and XRP can begin its next leg higher. To do that, XRP price must first close at or above the daily Kijun-Sen at $0.98. To achieve an undeniable bullish breakout, XRP needs a daily close at $1.21. If $1.21 is reached, the projected target range is the $2.00 value area, followed by the $3.35 price level.

XRP/USDT Daily Ichimoku Chart

However, downside risks remain. XRP has the cloud of Ripple’s SEC debacle hanging over it, and any hints of continued uncertainty or a negative outlook for Ripple may weigh heavily on how XRP trades. The downside risk for XRP price is the 2021 Volume Point Of Control at $0.45.

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Ripple’s XRP Price Prediction in 2022 Based on a Crypto Analyst Report

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Ripple (XRP) is one of the oldest coins in the crypto space with the most insane rumors going around according to the crypto analyst, Michaël van de Poppe. He says he believes XRP will definitely have a big run as it did back in 2017.

He adds that XRP does not want to be just a payment system, it is building its own smart contract with a goal to create side chains and NFTs. He says that as the Ripple-SEC lawsuit is still in progress, he is very much interested to know what the outcome will be.

He adds that he expects the lawsuit to come to an end in no time and if eventually it does, it could trigger the market to start hitting up again. Although, there are possibilities that it will not.

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Michaël explains that the SEC lawsuit against Ripple was a result of price manipulation on the side of Ripple and insider trading. He affirms that XRP has made many millionaires back when it had a big run back in 2013, and another explosive between 2014 to 2015. But since 2017, it has not been doing too much except for fights on social media, criticism, negativity, and toxicity.

As per Ripple’s price action, Michaël says that the XRP market has been correcting for the past 4 years and it is facing a potential breakout once again. He continues that any reasonable target for XRP to rise in the market if a bull circle ensues will shoot up the price up to $2.87 and $4.33.

With this said, despite the current bear position of XRP in the past few days, some traders are still affirmative about a bull happening soon. At press time, XRP is up 6.83% and 0.8317 in the last 24 hours.

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Ripple Price Analysis: XRP finds resistance at $0.85, a test of downside to follow?

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  • Ripple price analysis is bearish today.
  • XRP/USD recovered 44  percent from the previous low.
  • Resistance was found at $0.85 overnight.

Ripple price analysis is bearish today as we expect another test of downside to follow after a strong retracement to $0.85. Since XRP/USD has formed consolidation overnight, we expect bulls to be exhausted, leading to another move lower later today.

Ripple Price Analysis: XRP finds resistance at $0.85, a test of downside to follow? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the green over the last 24 hours as the market recovered from the strong selloff on Friday. The market leader, Bitcoin, gained 3.53 percent, while Ethereum 6.85 percent. Terra (LUNA) is the top performer, with a gain of almost 40 percent.

Ripple price movement in the last 24 hours: Ripple recovers to $0.85, starts to consolidate

XRP/USD traded in a range of $0.7545 – $0.8638, indicating strong volatility over the last 24 hours. Trading volume has declined by 37 percent, totaling $3.78 billion, while the total market cap trades around $38.74 billion, ranking the coin in 8th place.

XRP/USD 4-hour chart: XRP looks to test downside today?

On the 4-hour chart, we can see the $0.85 mark preventing further upside over the past hours, likely leading to a retest of downside later today.

Ripple Price Analysis: XRP finds resistance at $0.85, a test of downside to follow?
XRP/USD 4-hour chart. Source: TradingView

Ripple price has seen a steady decline over the last weeks. From the previous major swing high at $1.35, XRP/USD has retraced over 55 percent to the $0.59 low, indicating that we might see a major reversal soon.

However, for now, the overall market structure is still bearish as we saw a strong drop lower on Friday. Support at $0.59 offered strong support, leading to a quick rejection higher Yesterday.

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The Ripple price action found resistance at $0.85 as it recovered over 40 percent by the end of the day. Overnight, XRP/USD consolidated, indicating we should see a reversal back to the downside later today.

Ripple Price Analysis: Conclusion 

Ripple price analysis is bearish today as we saw the $0.85 slow down the recovery. Therefore, XRP/USD is likely ready to test downside again, likely leading to a higher low set.

While waiting for Ripple to move further, see our articles on the Best Crypto Wallet 2021, Decred Wallet, and Ripple vs SEC.

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