Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC breaks all-time high of $73,777 as Trump takes the lead


  • Bitcoin breaks above its all-time high of $73,777 on Wednesday as Donald Trump leads in the presidential election.
  • Ethereum approaches the $2,485 resistance level; a firm close above could signal a possible upward momentum.
  • Ripple price finds support around its $0.488 daily level, suggesting a recovery is on the cards.

Bitcoin (BTC) breaks above its all-time high of $73,777 on Wednesday, buoyed by Donald Trump's poll lead. At the same time, Ethereum (ETH) is nearing its key resistance level, with a strong close above it, potentially signaling upward momentum. Meanwhile, Ripple (XRP) finds support around its daily level, indicating the potential for a recovery.

Bitcoin eyes for new all-time high of $78,777

Bitcoin price faced rejection around its all-time high (ATH) of $73,777 on October 29 and declined 6.65% in the next six days. However, it found support around $67,000 on Monday and rose 2.24% until Tuesday. At the time of writing on Wednesday, it breaks above its ATH and trades around $73,900.

A successful daily close above its ATH of $73,777 could pave the way for BTC to target the 141.40% Fibonacci extension level (drawn from July’s high of $70,079 to August’s low of $49,072) at $78,777.

The Relative Strength Index (RSI) on the daily chart has bounced off from its neutral level of 50 and reads 67 as of Wednesday, indicating that the bullish momentum is gaining traction.

BTC/USDT daily chart

BTC/USDT daily chart

However, if BTC fails to close above $73,777 and declines, it may retest the key psychological level of $70,000.

Ethereum is poised for a rally if it closes above the key resistance level

Ethereum price broke below the ascending trendline on Monday (drawn from joining multiple low levels with a trendline since early September) but found support around its daily level of $2,342 and bounced slightly on Tuesday. On Wednesday, it raises and trades around $2,500, breaking above its 50% price retracement level at $2,485.

If ETH successfully closes above the $2,485 level, it could rally 10% to retest its October 21 high of $2,769.

The RSI indicator on the daily chart is currently at 50, trending upward and crossing above its neutral level, signaling that bulls are attempting to gain control over the bears. However, for the bullish momentum to continue, the RSI must close above 50 and maintain its upward momentum.

ETH/USDT daily chart

ETH/USDT daily chart

Conversely, if ETH declines and closes below $2,342 daily support, it would invalidate the bullish thesis. This scenario would extend the decline by 9% to retest its September 6 low of $2,150.

Ripple shows signs of recovery 

Ripple price found support around its $0.488 daily level on Sunday and rose over 3.5% until Tuesday. At the time of writing on Wednesday, it continues to trade slightly above $0.526.

If XRP continues its rise and closes above the next daily resistance at $0.544, it could extend the rally by 15% to retest its daily resistance at $0.626.

The Moving Average Convergence Divergence (MACD) indicator further supports Ripple’s rise, signaling a bullish crossover on Wednesday’s daily chart. The MACD line (blue line) moved above the signal line (yellow line), giving a buy signal. Additionally, the RSI indicator on the daily chart is at 50, flipping above its neutral level of 50, suggesting that bullish momentum is gaining traction.

XRP/USDT daily chart

XRP/USDT daily chart

However, If XRP declines and closes below $0.488, it could extend the decline by 12% to retest its August 5 low of $0.431.


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

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC breaks all-time high of $73,777 as Trump takes the lead

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC breaks all-time high of $73,777 as Trump takes the lead

Bitcoin breaks above its all-time high of $73,777 on Wednesday, buoyed by Donald Trump's poll lead. At the same time, Ethereum is nearing its key resistance level, with a strong close above it.

More Cryptocurrencies News
Bitcoin and crypto market jump following Trump's lead in early election results

Bitcoin and crypto market jump following Trump's lead in early election results

Bitcoin has risen over 5% as early estimates of election results suggest Trump is leading Harris. Polymarket odds of a Trump victory have skyrocketed over 70%. Anti-crypto Senator Warren defeats John Deaton to win the Massachusetts senate seat.

More Bitcoin News
XRP could move toward $0.5608 resistance, on-chain data indicates declining investor interest

XRP could move toward $0.5608 resistance, on-chain data indicates declining investor interest

Ripple's XRP is trading near $0.5140 on Tuesday following declines in several of its on-chain data, which indicates declining investor interest. The remittance-based token could rally toward $0.5608.

More Ripple News
Dogecoin Price Prediction: DOGE could hit a new yearly high after 50% rally in twenty days

Dogecoin Price Prediction: DOGE could hit a new yearly high after 50% rally in twenty days

Dogecoin (DOGE) is up 8% on Tuesday following rising expectations of a Donald Trump victory in the ongoing U.S. presidential elections. If the bullish momentum continues, the meme coin leader could rise to a new yearly high.

More Dogecoin News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP