Cryptocurrencies Price Prediction: Bitcoin, Ripple & Monero – American Wrap 12 May


Bitcoin Price Analysis: BTC/USD pushes higher to flirt with 9K once again

Bitcoin has pushed over 3.5% higher on Tuesday after Monday's halving event. The price had been anticipated to shoot higher by some analysts. Although there was no rocketing price the move higher in today's session has not been too shabby. 

On a technical note, the price found some support just ahead of the 8K level and before the two key 55 exponential and 200 simple moving averages. The bulls will now be looking to see if the 10K resistance can be taken out. The two aforementioned moving averages might also cross over in a bullish fashion. 

Ripple Price Analysis: XRP/USD sellers stay wait at $0.2000 – Confluence Detector

XRP price stays below $0,2000 after a failed attempt to clear this pivotal barrier. The third-largest digital coin hit the intraday high at $0,2001 before fresh selling interest pushed the price towards $0,1980. XRP/USD has stayed mostly unchanged on a day-to-day basis and gained nearly 3% since the beginning of Tuesday.

The intraday chart shows that the RSI points upwards though it is still below 70 (overbought zone). It means that the coin may resume the recovery attempts in the nearest future. 

Monero Price Analysis: XLM breaks higher to break the 4-hour 55 EMA

The 4-hour chart of XLM shows another bullish push to the upside and maybe even a test of the 0.70 area. There was a massive support zone the price bounced off at the psychological 0.060 area. There was also the 200-period simple moving average and Fibonacci extension (not on chart).

Now the price is moving higher there are a few resistance zones to watch. First and foremost 0.070 has been sticky. The previous consolidation had found the point to be quite the pivot area. Beyond that, the purple trendline line could be slightly tricky but if that breaks a test of the old high could defiantly be on the cards. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs

Crypto today: Bitcoin, Ethereum, XRP tests key support, TRON network non-stablecoin activity hits new highs

Bitcoin, Ethereum, and XRP hover around key support levels after registering a steep correction earlier this week. TRON network’s stablecoin activity hit new highs following the release of SunPump. TRON trades at around $0.1500, almost flat on the day.

More Cryptocurrencies News
Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level

Bitcoin Weekly Forecast: $50,000 on the horizon if it breaks below key support level

Bitcoin price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.

More Bitcoin News
Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit

Vitalik Buterin says all Layer-2 token holdings will be donated to charity, won’t sell for profit

Vitalik Buterin, Ethereum co-founder, has not sold Ether since the altcoin’s ICO in 2018. On-chain transfers by Buterin make headlines as ETH holders keep eyes peeled for selling pressure on the altcoin. 

More Ethereum News
WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash

WazirX, PenPie and Bo Shen hackers launder $42.7 million in stolen funds through Tornado Cash

Three different hackers responsible for the exploit of crypto assets worth millions of dollars from crypto exchange WazirX, DeFi protocol Penpie, and Founder of Fenbushi Capital Bo Shen are using Tornado Cash to move part of the stolen funds.

More Cryptocurrencies News
Bitcoin: $50,000 on the horizon if it breaks below key support level

Bitcoin: $50,000 on the horizon if it breaks below key support level

Bitcoin (BTC) price tests the key support level at $56,000 on Friday, consolidating over a 1% decline this week. If it drops below this support, a continued downtrend is likely for BTC, as suggested by substantial outflows from US spot Bitcoin ETFs, rising institutional selling, and bearish on-chain indicators.

Read full analysis
Moneta Markets review 2024: All you need to know

Moneta Markets review 2024: All you need to know

VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.

Read More

BTC

ETH

XRP