The cryptocurrency market has achieved a new high by hitting a market capitalization of over $3.7 Trillion. With this, Bitcoin price today has achieved a new all-time high of $106,488.25 during the early Asian market hours. This highlights a strong bullish sentiment in the crypto space.
With the present market sentiment turning extremely greedy, is this a good time to invest in Bitcoin, Ethereum, & Ripple? Dive in as, in this article, we have covered the short-term price prospects of the top 3 cryptocurrencies by market capitalization.
Bitcoin (BTC)
The Bitcoin price has added 2.23% in 24 hours with a trading volume of $62.123 billion. This has resulted in the BTC price achieving a new ATH of $106,488.25 today. Moreover, it has jumped 5.83% in seven days and 14.67% over the last 30 days.
The Simple Moving Average (SMA) has supported the Bitcoin price in the daily chart. On the other hand, the MACD indicator records a constant red histogram, highlighting a mixed price sentiment in the crypto market.
If the bullish sentiment sustains, the BTC price could head toward its target price of $110,000 during the upcoming time. On the contrary, if a bearish reversal occurs, the star crypto could retest its $100k mark.
To find out answers to questions like how high can Bitcoin price realistically go? Read Bitcoin price prediction until 2030!
Ethereum (ETH)
The ETH coin price has maintained its bullish price action by adding ~2% to its valuation over the past day. Further, it has surged 26.84% over the last 30 days and has a YTD return of +73.88%.
The Relative Strength Index (RSI) is on the path of experiencing a bullish convergence in the 1D time frame. Moreover, with its SMA indicator recording a bullish rise, the Ethereum price may continue gaining value this week.
If the market favors the bulls, the ETH price could reclaim the $4,000 mark. Moreover, if the bullish sentiment intensifies, this could push the price of this altcoin toward its $4,500 level. Conversely, if the bears outrun the bulls, the price could retest its $3.7k level.
Considering buying the ETH tokens before it hits $5000? Read Ethereum price prediction to uncover the long-term mysteries!
Ripple (XRP)
Despite recording a bearish price action over the past week, the XRP coin price has surged 146.68% over the last 30 days. Furthermore, with a Year-to-Date return of +291.52%, this altcoin has outperformed top tokens this year.
The Moving Average Convergence Divergence (MACD) displays a rising red histogram in the 1D time frame. With a bearish crossover in its averages and a negative SMA indicator, the XRP price hints at a negative action this week.
Suppose, the bullish sentiment sustains, in that case, the Ripple price will surpass its $2.5 mark and head toward its $3 mark this week. However, if the bears regain dominance, the XRP coin price could drop toward its low of $2 this month.
To find out if the Ripple price will hit $5 this crypto bull run, Read our XRP Price Prediction. Also, subscribe to CoinPedia to stay updated on the latest cryptocurrency news first!
FAQs
With the dominance of Bitcoin increasing to 55.98%, the largest cryptocurrency by market cap is highly bullish.
Amid increased bullish sentiment and rising adoption, the crypto market has added over $150 billion to its valuation over the past weekend.
If the bullish sentiment sustains and the project witnesses increased adoption, in that case, a single XRP token could reach a maximum price of ~$10 by 2030.
