Top 3 Price Predictions: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP extend losses as inflation heats up
- Bitcoin extends losses, trading below $73,500 on Wednesday after hot inflation figures.
- Ethereum trades below $2,050 after slipping nearly 4% so far this week.
- XRP bears remain in control, extending the correction toward the next key zone around $1.
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their losses on Wednesday as hotter-than-expected US Consumer Price Index (CPI) figures weigh on risk appetite. BTC falls below $73,500, and ETH slips under $2,050, while XRP extends its correction, with sellers eyeing the $1.00 psychological support level. The price action of these top three cryptocurrencies remains bearish, with any relief rally likely to attract selling interest.
Bitcoin bears eye $70,000 mark
Bitcoin price trades at $73,367 on Wednesday, extending a bearish near-term bias as it holds below the key Exponential Moving Averages (EMAs). The 200-day EMA at $76,404, the 100-day EMA at $77,473 and the 50-day EMA at $78,879 all sit overhead, suggesting a market capped by layered trend resistance.
Momentum conditions reinforce the downside tone, with the Relative Strength Index (RSI) slipping toward the oversold threshold near 33 and Moving Average Convergence Divergence (MACD) remaining negative, which hints at persistent selling pressure rather than an imminent bullish reversal.
On the topside, initial resistance sits at the 200-day EMA around $76,404, followed by the 100-day EMA at $77,473 and the 50-day EMA at $78,879, forming a dense technical barrier bulls would need to reclaim to ease the current downside bias. Above there, a more strategic hurdle emerges at the horizontal resistance zone near $85,000, where previous supply could reassert itself.
On the downside, the absence of nearby mapped support suggests that any break lower from current levels would send BTC toward the psychological support zone around $70,000 before stabilizing.
Ethereum bears in control of momentum
Ethereum price trades at $2,047 on Wednesday, extending a bearish phase as it holds decisively beneath the 50-day, 100-day and 200-day EMAs clustered between roughly $2,305 and $2,346. The loss of the former rising trendline, now resistance near $2,445, reinforces a corrective tone, while the RSI around 29 signals oversold conditions that could slow, but not yet reverse, the prevailing downside pressure; the negative MACD reading hints that bearish momentum remains in control for now.
On the topside, initial resistance is seen at the 200-day EMA near $2,305, followed by the 100-day EMA at $2,326 and the 50-day EMA at $2,346, with a more prominent horizontal barrier at $2,400 before the broken uptrend line around $2,445 and the distant $2,770 ceiling.
On the downside, the nearest notable support is the horizontal level at $1,823.64, where buyers could attempt to build a more durable floor if the current decline extends.
XRP extends losses heading toward the $1 mark
XRP price trades at $1.047 on Wednesday, extending a bearish near‑term bias as it holds well below the 50‑day, 100‑day and 200‑day EMAs at $1.283, $1.297 and $1.362 respectively. The EMA cluster overhead reinforces a capped tone, while the RSI at 23 sits in oversold territory, hinting that downside pressure is stretched but not yet reversed. The MACD indicator remains negative, with bearish readings suggesting that momentum still favors sellers despite the oversold RSI backdrop.
On the topside, initial resistance emerges at $1.160, ahead of the $1.300 horizontal barrier, with the 50‑day and 100‑day EMAs at $1.283 and $1.297 reinforcing a dense supply zone before the longer‑term 200-day EMA at $1.362. Higher up, $1.540 and $1.900 mark more distant resistance levels.
On the downside, immediate support is at the psychological $1.000 handle; a decisive break below this floor would open the door to further depreciation, while holding above it could allow a corrective bounce toward the aforementioned resistance cluster.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Cryptocurrency metrics FAQs
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.
Market capitalization is the result of multiplying the circulating supply of a certain asset by the asset’s current market value.
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.
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.
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