Cryptocurrencies Price Prediction: Ethereum, Ripple & Bitcoin

Analysts grow concerned as $2 billion in Ethereum flood exchanges

As Ethereum gas fees surge, it is getting expensive to transact on the Ethereum blockchain. Lower value non-fungible tokens may be hit hard with rising Ethereum gas fees that could eliminate the bottom of the NFT market. $2 billion worth of Ethereum deposited to exchange wallets may belong to whales looking to take profits. Ethereum's climb toward its May all-time high of $4,356.99 is interrupted by the ongoing consolidation. Nearly 600,000 Ether was deposited to Binance, triggering concerns of a sell-off.

Bitcoin whales trim their holdings as fear of “mass sell-off” looms

Analysts note a drop in illiquid supply ratio as dormant Bitcoins move, hold a short-term bearish outlook. Bitcoin balance on exchanges spikes, largest single-day inflow since "Black Thursday," likely to trigger a mass sell-off. Decrease in holdings of whales’ Bitcoin wallet addresses observed, likely meaning whales are waiting to begin accumulating. Historically, an increase in Bitcoin inflows to exchanges – an activity being observed now – comes before a price dip. Analysts fear further consolidation in the asset before it resumes an uptrend.

Three reasons why XRP price could double in a few days

XRP price is trading inside an ascending parallel channel, hinting at a bullish move shortly. Ripple is forming a bullish pennant on a lower time frame that could trigger a 47% advance. A steady increase in daily active addresses suggests rising interest among users, supporting an optimistic outlook. XRP price has been on an impressive upswing over the past month. While most altcoins are retracing, Ripple has managed to stay afloat without intense drawdowns.

Share: Cryptos feed

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.