Price Analysis

Bitcoin (BTC) Indicates Price Drop; Ethereum (ETH) & Ripple (XRP) Walks On The Same Path

Bitcoin (BTC/USD) Price Analysis:

Bitcoin Price Chart
Bitcoin Price Chart

The largest coin of the crypto market is not indicating any positive sign. The currency shows a moderate price trend in the last week. The Market Cap of Bitcoin is dealing around $203,170,646,589 at 11:18 UTC. For understanding the momentum of the coin, let’s analyze the BTC price chart.

Above chart is indicating a price fall. The week started with 6th August. Bitcoin price was trading at $11827. The coin booked a downtrend of 2.94%. BTC dropped to $11480. On 7th August, the coin jumped from $11480 to $12001. The escalation was of 4.56%. Further, on 8th August, the price counter changed from $12001 to $12085 by 0.70%. On 9th August, the Bitcoin slipped from $12085 to $11909 by 1.50%. On 10th August, the coin took another drop of 4.76%. The price changed from $11909 to $11342. On 11th August, the coin escalated from $11342 to $11572 by 1.96%. Currently, the Bitcoin price is at $11401. BTC might be seen rising towards the end of the week.

Ethereum (ETH/USD) Price Analysis:

Ethereum Price Chart
Ethereum Price Chart

The second-largest coin of the crypto market is currently dealing at $212.53. The Market Cap of Ethereum stands at $22,768,359,000 (11.23 UTC). The upsurge in the ETH coin is expected to continue for quite some time.

The week-long Ethereum price chart is reflecting a downfall, but from the past few days, the coin started recovering. On 6th August, the coin opened at $233.81 and slipped to $226.32 by 3.17%. The coin kept a moderate movement on 7th August. ETH price changed from $226.32 to $225.64. On 8th August, the coin slipped from $225.64 to $221.98 by 1.58%. On 9th August, Ethereum price slipped from $221 to $214. The regression was of 3.33%. On 10th August, the coin changed places from $214.58 to $206.58. The fall was of 3.61%. Yesterday, the coin picked up from $206.58 to $217.05. The progression was of 5.15%. Ethereum is recommended for long-term traders. ETH coin would be touching new highs in the near future.

Ripple (XRP/USD) Price Analysis:

Ripple Price Chart
Ripple Price Chart

The third-largest coin of the crypto market, Ripple (XRP) is trading at $0.30. The coin is dealing with bearish nature. The Market Cap of XRP is at $12,858,954,724 (11:27 UTC). Let’s have a look at the XRP price chart for the last week.

Ripple price was at $0.320 on 6th August. The coin slipped from $0.320 to $0.311 by 2.69%. On 7th August, XRP kept a moderate movement. The price changed from $0.3118 to $0.31116 by 0.18%. On 8th August, the coin slipped from $0.31116 to $0.30922. The regression was of 0.62%. There was a major downtrend in the price of Ripple on 9th August. XRP price switched from $0.30922 to $0.30036. The regression marked was of 2.79%. On 10th August, the coin escalated from $0.300 to $0.302. The hike was of 0.62%. The coin again maintained a low profile on 11th August. Ripple price moved from $0.3021 to $0.3022 by 0.03%. Today, XRP coin opened with a downtrend. The coin slipped from $0.302 to $0.300. The regression marked was of 0.69%. Investing in the third-largest wouldn’t go futile. As per analysis and historical data, the long-term investment plan is most suited for Ripple.

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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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