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Price Analysis

Bitcoin (BTC) Drags Ethereum (ETH) and Ripple (XRP) into the Price Rally

Bitcoin (BTC/USD) Price Analysis:

Bitcoin price chart - Aug 23
Bitcoin Chart By TradingView

Bitcoin (BTC) is dealing with the bulls. The current scenario seems to embark price rally soon. However, the upsurge can still take some time, as the recent price drop has affected the coin at large. The coin touched $13000 in the last month is now at $10000. The difference is of $3000, which is a hard task to achieve. Let’s have a look in the intraday movement.

The intraday chart of Bitcoin is indicating an upsurge in price. The coin opened with $10158 and immediately dropped to $9812. The fall was of 3.08%. The coin escalated from $9812 to $10067 by 2.16%. Further, the coin jumped from $10068 to $10227 by 1.59%. Despite the escalation, the coin closed with a loss of 0.42% and closed at $10111. Today, the coin opened with an escalation of 1.56% from $10111 to $10269. The coin inclined by 0.67% from the opening time. Bitcoin (BTC) is currently dealing at $10180.

The coin would be best suited for long term traders. The same would bring a colossal profit for the traders.

Ethereum (ETH/USD) Price Analysis:

Ethereum price chart - Aug 23
Ethereum Chart By TradingView

Ethereum is the second-largest coin in the market. The market cap of the coin is marked as $20,696,437,065 at 09:09 UTC. The coin is anticipated to bring the price rally in the market soon. Let’s have a look at the price chart. Yesterday, the coin opened at $189. The currency fell from $189 to $183 by 3.49%. The coin started moving up. The coin jumped from $183 to $188 by 2.80%. Further, the coin jumped from $188 to $195 by 3.69%. The coin closed at $190. The intraday loss was of 0.55%. Today, the coin opened with a slight fall of 0.60%. The price counters changed from $190 to $189. Further, the coin improved from $189 to $192 by 1.62%.

Ethereum (ETH) is among the most promising coins in the market. The currency has always resulted positively for the traders. We are quite positive about the upsurge in the coin. We would recommend to dig in for long term investment for high dividends.

Ripple (XRP/USD) Price Analysis:

Ripple price chart - Aug 23
Ripple Chart By TradingView

Ripple (XRP) had a roller-coaster week. The improvement in the price started from yesterday. The coin has been through a lot lately. Hopefully, the storm has passed and left us with repairable damage. We are anticipating that the coin would soon start moving up on the price chart. The said inclination would last in the coin. To understand the movement more precisely, let’s have a look at the price chart.

Today, the coin opened with an escalation of $0.274 from $0.272 by 0.69%. Yesterday, the coin slipped from $0.267 to $0.0261 by 2.20%. Further, the coin escalated from $0.26 to $0.27 by 3.67%. The intraday movement in price booked an escalation of 1.90%. The coin closed at $0.27.

For better result in the future, we would recommend going with long term investment plan.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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