Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Here’s what to expect after FTX’s collapse


  • Bitcoin price shows a strong bullish reaction after sweeping the $17,593 hurdle.
  • Ethereum price tags a stable support level at $1,280 but awaits the big crypto’s signal to make the next move.
  • Ripple price slips back into the $0.336 to $0.466 range and is currently grappling with the range’s midpoint at $0.401.

Bitcoin price, along with Ethereum, Ripple and other altcoins, has undergone a massive sell-off over the last 24 to 48 hours after the recent collapse of Sam Bankman Fried’s exchange FTX. 

Before the well-known crypto exchange was acquired by Binance, the native token FTT tanked as a result of the balance sheet rumors. 

Read more: Binance acquires FTX to bring an end to FTT-induced FUD

Regardless of the recent acquisition, the market has sold off, but there might be a chance for a comeback, especially if Bitcoin price manages to stabilize.

Bitcoin price attempts a recovery 

Bitcoin price slid 15% in the last three days, sweeping the June 18 swing low at $17,593. This development has put BTC at a critical point where recovery is only possible if it can climb above the $19,000 level. 

In such a case, a recovery bounce to $20,742 could be underway. For the next few days, if the buyers step up, the range between $18,500 and $20,742 is where BTC will remain. This development is necessary for a build-up of momentum, especially if it is the start of a run-up to $25,000 or $28,000.

BTC/USD 1-day chart

BTC/USD 1-day chart

However, things could take a gloomy road if Bitcoin price slips below the $18,500 support. If BTC produces a daily candlestick close below $17,593, it will invalidate the bullish outlook and trigger a correction to the next support level at $15,551.

Ethereum price at an inflection point

Ethereum price faces a brutal rejection by the twelve-hour demand zone, extending from $1,675 to $1,750. ETH shed roughly 26% in under four days and is currently retesting the range high at $1,280. 

A breakdown of this level will prove fatal for holders, Bulls have one last chance to defend this area. Depending on Bitcoin’s outlook, a resurgence of buying pressure could see ETH revisit the $1,402. 

Only in a highly bullish case could investors expect Ethereum price to tag the $1,500 psychological level.

ETH/USD 12-hour chart

ETH/USD 12-hour chart

On the other hand, if Ethereum price breaks below $1,280, it will invalidate the bullish thesis and open the path to revisit the range’s midpoint at $1,080.

Ripple price crumbles under pressure

Ripple price created multiple lower highs between late September and early November. This weakness was followed by a breakdown of the $0.466 support level, which led to a 28% crash. As a result, XRP price reentered the $0.336 to $0.466 range.

So far, Ripple price has bounced 16% and is currently hovering below the midpoint at $0.401. A flip of this hurdle into a support floor will be key in recovering the recent losses. In such a case, XRP price could surge 12% to $0.447.

XRP/USD chart

XRP/USD chart

Regardless of the recovery, a failure to push past the $0.401 hurdle will signal a weakness among buyers. This development could see Ripple price revisit $0.336, where buyers can reattempt the run-up.

 


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

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: New high of $100K or correction to $78K?

Bitcoin: New high of $100K or correction to $78K?

Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.

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