Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC and XRP stabilize, ETH nears all-time high

Source Fxstreet

Bitcoin price stabilizes around $119,000 on Wednesday, after failing to close above $120,000.
Ethereum climbs past $4,500, with bulls eyeing the record highs near $4,868.
XRP price faces a key daily resistance at $3.40, a breakout could trigger a rally ahead.

Bitcoin (BTC) and Ripple (XRP) stabilize below their key resistance levels; a firm close above indicates a rally ahead. In the meantime, Ethereum (ETH) bulls take control of the momentum, surpassing $4,500 mark and targeting its record highs at $4,868.

Bitcoin could rally if it closes above $120,000 psychological barrier

Bitcoin price faced resistance around its key psychological level barrier at $120,000 on Monday and declined slightly. However, it reattempted to close above this resistance the next day but failed again. At the time of writing on Wednesday, it hovers below around $119,500.

If BTC closes above the $120,000 psychological level on a daily basis, it could extend the rally toward its record high of $123,218. If a successful close above this level occurs, BTC would enter price discovery mode with bulls targeting the psychological level of $125,000.

The Relative Strength Index (RSI) on the daily chart reads 59, above its neutral level of 50, indicating bullish momentum. The Moving Average Convergence Divergence (MACD) showed a bullish crossover on Monday, giving a buy signal and suggesting an upward trend.

BTC/USDT daily chart

If BTC faces a correction from its $120,000 level, it could extend the decline to find support around the daily level at $116,000.

Ethereum bulls aiming for all-time highs at $4,868

Ethereum price rallied and broke above $4,000 on Saturday and continued its surge, closing above the December 9, 2021, high of $4,488 on Tuesday. At the time of writing on Wednesday, it continues its upward trend, trading above $4,640.

If ETH bulls continue upward momentum, it could extend the rally to retest its all-time high of $4,868 set on November 10, 2021.

The RSI on the daily chart reads 78 above its overbought territory and points upward, indicating strong bullish momentum. The MACD showed a bullish crossover on Saturday, and with rising green histogram bars, further supports the bullish thesis.

ETH/USDT daily chart

On the other hand, if ETH faces a correction, it could extend the decline to find support around $4,488.

XRP could hit a record high if it closes above $3.40 resistance zone

XRP price faced rejection from its daily level at $3.40 on Friday and declined 5% in the next 5 days. However, on Tuesday, it recovered 4.41% and closed at $3.26. At the time of writing on Wednesday, it hovers at around $3.22.

If XRP closes above the $3.40 daily resistance, it could fuel the rally toward record highs at $3.66.

The RSI on the daily chart reads 56, above its neutral level of 50, indicating bullish momentum is gaining traction. On the daily chart, the MACD indicator lines converge, suggesting indecisiveness among traders. For the bullish momentum to be sustained, the MACD lines must flip to a bullish crossover, like ETH and BTC.

XRP/USDT daily chart

However, if XRP fails to close above the $3.40 resistance and faces a correction, it could extend the pullback toward its 61.80% Fibonacci retracement level at $2.99.

Cryptocurrency metrics FAQs

What is circulating supply?

The developer or creator of each cryptocurrency decides on the total number of tokens that can be minted or issued. Only a certain number of these assets can be minted by mining, staking or other mechanisms. This is defined by the algorithm of the underlying blockchain technology. On the other hand, circulating supply can also be decreased via actions such as burning tokens, or mistakenly sending assets to addresses of other incompatible blockchains.

What is market capitalization?

Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.

What is trading volume?

Trading volume refers to the total number of tokens for a specific asset that has been transacted or exchanged between buyers and sellers within set trading hours, for example, 24 hours. It is used to gauge market sentiment, this metric combines all volumes on centralized exchanges and decentralized exchanges. Increasing trading volume often denotes the demand for a certain asset as more people are buying and selling the cryptocurrency.

What is the funding rate?

Funding rates are a concept designed to encourage traders to take positions and ensure perpetual contract prices match spot markets. It defines a mechanism by exchanges to ensure that future prices and index prices periodic payments regularly converge. When the funding rate is positive, the price of the perpetual contract is higher than the mark price. This means traders who are bullish and have opened long positions pay traders who are in short positions. On the other hand, a negative funding rate means perpetual prices are below the mark price, and hence traders with short positions pay traders who have opened long positions.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin CME gaps at $35,000, $27,000 and $21,000, which one gets filled first?Prioritize filling the $27,000 gap and even try higher.

Author FXStreet

Aug 22, 2023

Prioritize filling the $27,000 gap and even try higher.

Pinduoduo Earnings Incoming: Morgan Stanley Sees Long-Term Profit Potential Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Author Mitrade

Nov 20, 2024

Insights – On November 21, Chinese e-commerce giant Pinduoduo (PDD) will release its Q3 2024 earnings.

Elon Musk’s xAI and Neuralink Launch New Funding Rounds Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Author Insights

Jun 03, 2025

Billionaire Elon Musk recently raised funds for his two high-profile tech companies, xAI and Neuralink.

Bitcoin briefly loses 2025 gains as crypto plunges over the weekend.Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Author Mitrade

Nov 17, 2025

Bitcoin experienced a sharp decline this weekend, briefly erasing its 2025 gains and dipping below its year-opening value of $93,507. The cryptocurrency fell to a low of $93,029 on Sunday, representing a 25% drop from its all-time high in October. Although it has rebounded slightly to around $94,209, the pressures on the market remain significant. The downturn occurred despite the reopening of the U.S. government on Thursday, which many had hoped would provide essential support for crypto markets. This year initially appeared promising for cryptocurrencies, particularly after the inauguration of President Donald Trump, who has established the most pro-crypto administration thus far. However, ongoing political tensions—including Trump's tariff strategies and the recent government shutdown, lasting a historic 43 days—have contributed to several rapid price pullbacks for Bitcoin throughout the year. Market dynamics are also being influenced by Bitcoin whales—investors holding large amounts of Bitcoin—who have been offloading portions of their assets, consequently stalling price rallies even as positive regulatory developments emerge. Despite these sell-offs, analysts from Glassnode argue that this behavior aligns with typical patterns seen among long-term investors during the concluding stages of bull markets, suggesting it is not indicative of a mass exodus. Notably, Bitcoin is not alone in its struggles, as Ethereum and Solana have also recorded declines of 7.95% and 28.3%, respectively, since the start of the year, while numerous altcoins have faced even steeper losses. Looking ahead, questions linger regarding the viability of the four-year cycle thesis, particularly given the increasing institutional support and regulatory frameworks now in place in the crypto landscape. Matt Hougan, chief investment officer at Bitwise, remains optimistic, suggesting a potential Bitcoin resurgence in 2026 driven by the “debasement trade” thesis and a broader trend toward increased adoption of stablecoins, tokenization, and decentralized finance. Hougan emphasized the soundness of the underlying fundamentals, pointing to a positive outlook for the sector in the longer term.

Gold declines as Trump scraps Iran memorandum, markets await Fed minutes Gold (XAU/USD) trades around $4,050 on Wednesday, down 1.40% on the day at the time of writing, as investors favor the US Dollar (USD) following a fresh deterioration in tensions between the United States (US) and Iran.

Author FXStreet

Jul 08, Wed

Gold (XAU/USD) trades around $4,050 on Wednesday, down 1.40% on the day at the time of writing, as investors favor the US Dollar (USD) following a fresh deterioration in tensions between the United States (US) and Iran.

Related Instrument