Bitcoin and Altcoins Started the Week Calm: BTC, ETH, XRP Analysis

Bitcoin and altcoins, which were positively affected by the Ripple news and the skyrocketing XRP price in the last days of last week, made a calm start to the second half of July. In this article, we will take a look at the technical view of the major cryptocurrencies.

Bitcoin (BTC)

Bitcoin, which passed $ 30 thousand in the last week of June, continues to stay above the psychological level. While the leading cryptocurrency has been on its way in the horizontal channel for 3 weeks, volatility has decreased significantly over the weekend.

BTC chart.

Traders are curiously waiting for the direction in which Bitcoin, which is horizontal in the range of $ 29,800-31,300, will continue. If the horizontal channel is broken to the upside, BTC price could rise as high as $36,400. However, in the bear-dominated scenario, there is a support area just above $28,000.

Robert Kiyosaki, who shared on Twitter last week, made an important prediction for the price of Bitcoin.

Bitcoin is currently trading at $30,270.

Ripple (XRP)

With the positive news from the American judiciary on Friday, Ripple caught all the attention with its price action. A judge in the case between the SEC and Ripple found the crypto initiative justified, causing the XRP price to skyrocket.

XRP, which was around $ 0.47 before the news, reached the level of $ 0.93 within minutes after the lawsuit decision. Some profit sale over the weekend Ripple’s token started the new day at $0.75.

XRP chart

The visible support point for the cryptocurrency wearing the rockets is found at $0.56. XRP, which has nearly doubled in hours, should be cautious when trading.

Ethereum (ETH)

Ethereum, the largest altcoin by market capitalization excluding stablecoins, moved in the opposite direction with XRP last Friday. During Ripple’s rising hours, ETH was selling from $2,000 to $1,900 support. Inexperienced Ethereum investors may have flocked to the rising coin by selling after the news of XRP.

ETH chart.

The leading altcoin spent the weekend testing the $1,900 level. If the support level is broken to the downside, ETH price may continue to decline as low as $1,770.

Ethereum is making a calm start to the new week around $1,930.

You can reach the developments that may change the course in the crypto money markets this week.