Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Fresh lows for crypto markets in sight as recovery gains come undone

• Bitcoin price eyes up the inefficiency gap present up to $18,514 after facing rejection from the weekly open.
• Ethereum price will follow suit and revisit the $993 support level after an 11% correction.
• Ripple price has already collapsed by 15% but could drop another 5% to retest the $0.319 support floor.

Bitcoin price faced an intense sell-off as it approached the recent weekly open, indicating that investors are looking to book profits. This downswing has caused Ethereum, Ripple and other altcoins to take a dip as well.

Bitcoin price continues to tumble

Bitcoin price has dropped 5.5% since retesting the weekly open at $21,025 on June 28. The lack of buying pressure means bears have taken control. As a result, BTC has sliced through Monday’s low at $20,482 and is currently heading toward the previous Monday’s low at $19,612, which is also the liquidity objective from a market maker’s perspective.

Investors can now expect the downtrend to continue to $19,612. Bulls need to be patient, however, as this correction could slide even lower due to the presence of the Fair Value Gap (FVG) aka the price inefficiency, extending from $18,514 to $19,120, suggesting even lower prices are possible before the market stabilizes.

The two turning points for Bitcoin price would be $19,612 and $18,514.

BTC/USD 2-hour chart

On the other hand, if Bitcoin price produces a four-hour candlestick close below $18,040, it will indicate that sellers are in control. This development could see BTC make fresh lows around $15,550.

• Bitcoin price eyes up the inefficiency gap present up to $18,514 after facing rejection from the weekly open.
• Ethereum price will follow suit and revisit the $993 support level after an 11% correction.
• Ripple price has already collapsed by 15% but could drop another 5% to retest the $0.319 support floor.

Bitcoin price faced an intense sell-off as it approached the recent weekly open, indicating that investors are looking to book profits. This downswing has caused Ethereum, Ripple and other altcoins to take a dip as well.

Bitcoin price continues to tumble

Bitcoin price has dropped 5.5% since retesting the weekly open at $21,025 on June 28. The lack of buying pressure means bears have taken control. As a result, BTC has sliced through Monday’s low at $20,482 and is currently heading toward the previous Monday’s low at $19,612, which is also the liquidity objective from a market maker’s perspective.

Investors can now expect the downtrend to continue to $19,612. Bulls need to be patient, however, as this correction could slide even lower due to the presence of the Fair Value Gap (FVG) aka the price inefficiency, extending from $18,514 to $19,120, suggesting even lower prices are possible before the market stabilizes.

The two turning points for Bitcoin price would be $19,612 and $18,514.

BTC/USD 2-hour chart

On the other hand, if Bitcoin price produces a four-hour candlestick close below $18,040, it will indicate that sellers are in control. This development could see BTC make fresh lows around $15,550.

Ripple price takes the first step

Ripple price seems to be frontrunning the sell-off as it has already dropped 15% from its June 24 swing high at $0.386. This downswing suggests that Ethereum and Ripple are highly suggestible and are likely to follow in Bitcoin’s footsteps.

Investors can expect Ripple price to continue this trend until it reaches the $0.319 support level. A breakdown of this barrier might see XRP price retest $0.292. This is the last line of defense for the remittance token, so a flip of this foothold into a hurdle could see Ripple crash 15% to $0.250.

XRP/USD 4-hour chart

Regardless of the bearish outlook, if Ripple price produces a four-hour candlestick close above $0.401, it will create a higher high and invalidate the pessimistic outlook. This development could see XRP price extend its rally to $0.509.

Source

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