Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC to dip, taking altcoins with it – FXStreet


Akash Girimath Akash Girimath

Bitcoin (BTC) price shows weakness as it approaches a key hurdle. Rejection for BTC could prompt altcoins like Ethereum (ETH) and Ripple (XRP) to crash lower as well.
Also read: Bitcoin Weekly Forecast: BTC bearish fractal forecasts correction to $25,000
Bitcoin (BTC) price attempted to extend the 2023 rally but failed to overcome the $25,166 to $31,804 range’s midpoint at $28,485. Currently, the Relative Strength Index (RSI) and Awesome Oscillator (AO) indicators show a slowdown in bullish momentum and the potential for a build-up of bearish momentum. 
But since the momentum indicators have not flipped bearish yet, investors can expect another dead cat bounce to $30,500 before kick-starting a downtrend. This move would collect the buy-stop liquidity resting above the swing highs formed between August 8 and July 20. 
Post liquidity run, BTC could trigger a sell-off that retests the $24,808 support level, a breakdown of which could send it down to the $21,351 foothold.
BTC/USDT 1-day chart
BTC/USDT 1-day chart
On the other hand, if Bitcoin price flips the $30,000 psychological level into a support floor, it will invalidate the bearish thesis and attract sidelined buyers. In such a case, BTC could attempt to sweep the range high at $31,804.
Ethereum (ETH) price sits above the $1,073 to $2,023 range’s midpoint at $1,551. But the RSI and AO indicators have already breached their respective mean levels of 50 and 0, suggesting a surge in bearish momentum.
Going forward, investors can expect Ethereum price to revisit the next support level of $1,309. 
Read More: Ethereum price tests crucial support at $1,570 as ETH becomes a polarizing topic
ETH/USD 1-day chart
ETH/USDT 1-day chart
Regardless of the bearish signs, if external factors like news or macro events produce a strong bullish spike, it could shift the winds quickly. In such a case, if Ethereum price flips the $1,727 hurdle into a support floor, it will invalidate the bearish outlook. This move could further propel ETH to retest the $2,030 hurdle. 
Ripple (XRP) price trades above the $0.500 support level and could slip below it soon, considering Bitcoin’s position. In such a case, XRP could fall back on the $0.469 and $0.420 support levels. 
With no drivers like the Ripple lawsuit to push Ripple price higher, XRP is likely to keep sliding lower. In some situations, the altcoin could eye a sweep of the sell-side liquidity resting below swing lows formed between March 22 and May 11 at $0.411 and $0.406, respectively. 
The RSI is close to slipping below the mean level of 50, and AO is close to breaching the zero level, further adding proof to Ripple’s bearish outlook.
XRP/USD 1-day chart
XRP/USDT 1-day chart
On the other hand, if Ripple price flips the $0.540 hurdle into a support level, it will create a higher high and invalidate the bearish thesis. In such a case, XRP price could be suspended for the foreseeable future between the $0.540 and $0.668 levels.

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Solana has emerged as a standout performer in the altcoin market with a surge in weekly inflows at $24 million, making it the "altcoin of choice", according to  a recent CoinShares report.
Bitcoin price faces rejection at $28,485 hurdle and looks ready to slide lower. Ethereum price sits above a key support area of $1,551, a breakdown of which could see ETH revisit $1,309. Ripple price retests the $0.500 foothold with $0.469 and $0.420 barriers ready to support incoming selling pressure.
The altcoin market, which was riding a wave of bullish momentum months after the FTX collapse, is now facing a downward shift. The rise in the sector has come to a halt in October, crypto analyst Cold Blooded Shiller noted on X. 
Sophisticated scam has hit a trader @yyctrader1, resulting in loss of his 22 ETH portfolio. Stolen funds have been reportedly transferred from wallet to Ethereum via Orbiter.
Bitcoin (BTC) price hovers around $27,600 and shows no directional bias on the daily chart. Liquidity pockets are present in both directions, leaving traders guessing where BTC will go next. 
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