Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Gepetto’s guilty pleasure

• Bitcoin is witnessing rejection near the $23,500 level. By doing so, the bullish count has been invalidated.
• Ethereum price is falling as expected but has a chance to rotate higher.
• Ripple price shows concerning signals, revitalizes idea of ​​a $0.24 target.

The crypto market is witnessing several declines. The short-lived profit rally may have been a clever money trap to lure traders.

Bitcoin price redirects south

Bitcoin price has broken the rising trend channel, leading to a 25% profit gain since July 13. A news coverage was issued on July 21 to warn traders about the trend failure. The original peer-to-peer cryptocurrency produced the expected retest and rejection signal from the rising channel on July 23 and has since lost 10% of its market value.

The Bitcoin price is currently trading at $20,706 as the bears suppress the digital crypto in a free fall fashion. Although July brought knife-grabbing opportunities in the crypto market to make money, the decline in the BTC price should not be viewed through the same optimistic lens. In layman’s terms, smart money has invalidated the bullish short-term count. BTC price targets are $17,000 and potentially $16,200.

Invalidating the bearish count is $24,400. If the bulls can capture this level, they may be able to rally as high as $27,750, resulting in a 33% increase from the current Bitcoin price.

In the following video, our analysts dive deep into the price action of Bitcoin, analyzing key levels of interest in the market. -FXStreet Team

BTC/USDT 4-hour chart

Ethereum price falls as expected

Ethereum price showed bearish signals just before the New York session ended on Friday 22nd. July, as noted by FXStreet analysts.

“The relative strength index also shows subtle bearish divergence near the current price level of $1,580, warranting the idea of ​​a possible liquidation hunt,” the analysis read.

The subtle bearish divergence detected has led to a 16% decline. It was also pointed out that “smart money could go for another liquidity hunt as low as $1,290 without invalidating the bullish midterm thesis.”

“Ethereum price is currently trading at $1,374. Traders should keep a close eye on ETH price as the potential knife-edge decline could be a profit-making opportunity. Rebound targets lie between the $1,650-$1,900 zone. (More accurate goal can be issued if the first return signal takes place)

ETH/USDT 4-hour chart

In the following video, our analysts dive deep into the price action of Ethereum, analyzing key levels of interest in the market. -FXStreet Team

Invalidation of the uptrend scenario has been moved from $1270 to $1250 for wiggle room and accuracy. A more conservative approach would be to wait for a trip and break above $1,460 before getting involved in the Ethereum price.

XRP price target $0.24

On Monday, July 26, an urgent warning was issued for XRP traders. The digital remittance token bounced off the descending Elliot Wave Trend Channel (EWTC) and has since fallen 7% in freefall. Being an early bull of the XRP price is ill-advised as a subtle ramp pattern confuses bearish strength on the volume profile indicator.

If the technicals are correct, the XRP price is due for severe pain. A conservative target is $0.28 dating back to June 18th. Macro confluence targets suggest $0.24 and $0.20 are also in the cards.

Invalidating the bearish thesis remains at $0.48. If the bulls can break this level, they may be able to induce another bull run targeting $1.20, resulting in a 280% increase from the current XRP price.

XRP/USDT 4-hour chart

In the following video, our analysts dive deep into the price action of XRP, analyzing key levels of interest in the market. -FXStreet Team