Price Analysis

Bitcoin (BTC) Surges But Fails To Inject The Same In Ethereum (ETH) And Ripple (XRP) – BTC, ETH & XRP Price Analysis

BTC/USD Price Analysis:

Bitcoin Price Chart
Bitcoin Price Chart

Bitcoin (BTC) was trading at $11,838 at the time of penning down at 10:55 UTC as on 8th August. The coin is considered as the king of the crypto market because it anchors the same. The market cap of Bitcoin at the same time was $211,570,085,843.

One week ago, the coin was trading at $10,424. The escalation in the coin is tremendous. If we closely look at the chart, the coin started climbing from 2nd August. The first escalation was of 0.97%, and the price slightly changed from $10,424 to $10,525. On 3rd August, the coin jumped from $10,525 to $10,880, having a progression of 3.38%. Next day, the coin again escalated from $10,880 to $11,034 by 1.46%. There was a regression of 3.02% on 6th August as the counters changed from $11,774 to $11418. Yesterday, the coin again picked the pace up by 4.04% as the coin jumped from $11,418 to $11,879. Today, the coin has kept it tight around $11,800. There is a high prospect for the coin to continue with the price rally. There are anticipations that the coin would be seen dealing around $15,000 by the end of the year. The long-term investment is highly recommended for the coin.

ETH/USD Price Analysis:

Ethereum Price Chart
Ethereum Price Chart

Ethereum is in the second coin after Bitcoin and has maintained its momentum quite well in the market. The traders trust on the coin, and the same has kept Ethereum running in the sprint. If we look at the week-long chart, the coin started at $217 on 2nd August. There was an escalation marked of 0.22% as the coin touched $217.55 from $217.13. Next day, the coin jumped from $217 to $222.62 by 2.27%. On 4th August, the coin jumped again, and this time the escalation was of 0.70%. The coin changed counters from $222 to $224. On 5th August, the coin took a long leap. The coin touched $231 from $224 by 2%. On 6th August, the coin slipped from $231 to $225 by 2.50%. Yesterday, the coin kept it stable. There was not much movement in the coin. However, today, the coin has escalated by 0.50% until now as the coin jumped from $225.30 to $225.93. The coin is best suited for long-term investors. The coin is likely to touch $500 by the end of the year.

XRP/USD Price Analysis:

Ripple Price Chart
Ripple Price Chart

Ripple (XRP) stands at the third position in the crypto market. The coin is a high yielding investment. The coin combated the recent price drop like a true hero. The currency didn’t lose stability but is presently battling to rise again. The weekly chart is reflecting a pick and also, a drop in the coin.

Starting from 2nd August, the coin slipped from $0.316 to $0.311 by 1.37%.

On 3rd August, the coin picked up from $0.311 and traded back to $0.316 having an escalation of 1.42%. The upsurge continued on the next day too. This time the escalation was of 1.05%. The price changed from $0.316 to $0.319. On 5th August, the coin again jumped. The counters changed from $0.319 to $0.322 by 1.45%.

But on 6th August, the coin fell from $0.322 to $0.311 by 3.21%. The drop was quite disturbing as after the fall; the coin again experienced a major pullback. Yesterday, the coin remained at the same level. The coin opened at $0.311 and closed at 0.310. The change was marked by -0.24%. Today, the coin again fell from $0.31 to $0.30. However, the coin is anticipated to climb up soon. The market cap has also improved and is at $13,206,145,744. The long-term traders would be seen drawing high dividends in the future.

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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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