Current Price Predictions for Bitcoin, Ethereum, and Ripple

Bitcoin trades at approximately $83,000, struggling to surpass $85,000 resistance. Ethereum is declining towards $1,700, with recent lows not seen since October 2023. Ripple (XRP) tests critical support at $1.96, with risks of reaching its yearly low. Technical indicators suggest bearish tendencies for all three cryptocurrencies, highlighting market volatility.

Bitcoin’s price remains at approximately $83,000, experiencing difficulty in surpassing the crucial resistance level of $85,000 earlier this week. A rejection from the 50% Fibonacci retracement point at $88,211 resulted in a 3.10% decline on Wednesday. This underlines the pivotal resistance zone where BTC’s 200-day Exponential Moving Average (EMA) and a descending trendline converge, crucial for determining future price actions.

The Relative Strength Index (RSI) is positioned at 44, indicating slight bearish momentum after a recent rejection from its neutral reading of 50. Moreover, the MACD shows a coil pattern, representing uncertainty among traders. Should BTC continue facing rejection at the $85,000 threshold, the next potential support lies at $78,258. Conversely, a successful breach above $85,000 could push prices towards the psychological barrier of $90,000.

Ethereum’s price movement reflects significant struggles as it briefly recovered above the support level of $1,861 but subsequently fell nearly 6%. Currently, Ethereum trades at around $1,790. Persistent downward momentum may target the psychological mark of $1,700, not reached since October 2023, as the RSI sits at 37, suggesting strong bearish convergence.

In Ripple, the XRP price closed below its 100-day EMA at $2.30, leading to a notable 12.40% decline. Currently stabilising around $1.96 after retesting this critical support, XRP risks dropping further if it closes below this level, potentially reaching its yearly low of $1.77. The RSI reads 39, indicating bearish tendencies akin to Bitcoin and Ethereum. If XRP can maintain the $1.96 support and rebound, it might aim to recover to the level of $2.30.

Bitcoin, Ethereum, and Ripple all illustrate the broader cryptocurrency market trends, noting the significance of technical indicators such as the RSI and MACD in price behaviour. These developments offer insights into investor sentiment and highlight the volatility inherent in cryptocurrency trading.