Meanwhile, the US markets have closed again. We take a look at how the live Bitcoin (BTC) price and prices of the top 25 crypto are shooting up in rally. Then we analyze recent developments and price expectations for Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP).
We begin, of course, with the live Bitcoin (BTC) price and prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto shoot up in rally
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 23,255.55 ($23,421). This is 8.53% higher than during our Crypto update last night.
The prices of the top 25 crypto are also rising rapidly. Besides some stable coins, only Leo Token (LEO) records a loss of 2.30%. For the rest, the crypto prices are rising rapidly. The largest gain is currently 12,27% for Solana (SOL). On the site of Tradeincrypto.com you can analyze all live crypto prices 24 hours a day.
Why is the Bitcoin (BTC) price rising and what are the key crypto quotes?
There are currently 2 causes for the sharp rise in the price of Bitcoin (BTC). First, the price broke through the important resistance at the 200-week moving average. In the process, the price also broke through the 50-day moving average.
In addition, we see a mineral capitulation. Based on historical analysis, this is seen as a signal that the bottom of the crash has been reached.
Still, it is too early to call that we are out of the crisis. To confirm a bullish trend, it is important that Bitcoin (BTC) remains above the 200-week moving average limit (around $22,600) and preferably above $23,000. If this is not the case, a price decline towards $20,000 and possibly even lower is in line with expectations.
If the Bitcoin (BTC) price does indeed stay above $23,000, it is important to get above $24,000 as soon as possible, after which a further bullish rally to the supply zone above $30,000 is possible. This is likely to be done with an intermediate step, as there is still relatively strong resistance at $28,000.
Collateral around Ethereum (ETH) price and Ethereum Classic (ETC) benefits from it
In addition to Bitcoin (BTC), Ethereum (ETH) is also rising significantly in price again. The live Ethereum (ETH) price is currently $1,558.70. This is 3.90% higher than yesterday around this time.
According to analysts, we can expect more price increases for Ethereum in the near future due to 2 certainties:
First, the Merge update and the rollout of Ethereum 2.0 is providing a structural boost to the price;
In addition, we see macroeconomic factors calming down. Because the bullish case for Ethereum (ETH) is now clearer than for Bitcoin (BTC), this provides a solid foundation for price increases.
In addition, Ethereum (ETH) continues to focus on future developments. For example, Vitalik Buterin surfaced in an extensive discussion about a development of the future called Network States.
Ethereum Classic (ETC) spins profits from innovation drive
Along with all the fondness for the innovations that Ethereum (ETH) is working on, we are also seeing a growing group of fans of the technology behind the original Ethereum Blockchain, which is still being used by Ethereum Classic (ETC).
As Ethereum (ETH) moves from Proof of Work (PoW) to Proof of Stake (PoS) as a validation technique, ETH miners are losing their revenue the expectation is that they, with hodlers in their wake will move out to Ethereum Classic (ETC), where mining is still possible and will remain so.
We can already see the growing interest in the trading of ETC. For example, the coin has been back in the top 25 by market capitalization for a long time. Also, the live Ethereum Classic (ETC) price, which currently stands at $25.87, making 6.07% price gain on 1 day, has broken the bear trend. Analysts expect a hefty bull rally, with an ETC price target of $52.60 possible.
Crypto history for Ripple (XRP), what is the price outlook?
For Ripple (XRP), today was a busy day with a historical tinge. The buzz was mainly caused by events surrounding the lawsuit with the SEC. For example, a lawyer on behalf of 68,700 investors in Ripple (XRP) made significant inroads into the SEC’s indictment against Ripple (XRP). In doing so, he is warming up to a claim for damages against the SEC for a form of wrongful prosecution, damaging his clients’ returns.
In addition, there was noise from the House of Representatives. Here, Representative Brad Sherman actually called for crypto exchanges that list Ripple (XRP) to be prosecuted for knowingly offering an unregulated security. Since the case is still in court and most U.S. crypto exchanges have not offered Ripple (XRP) since the SEC began its indictment, there was no immediate reaction to Sherman’s words.
In addition, Ripple (XRP) history was made. Indeed, it is the day that co-founder Jed McCaleb closed his infamous “Tacostand” wallet. With this, all 9 billion Ripple (XRP) tokens that McCaleb took with him during his departure have been sold. This is beneficial for the stock price as McCaleb’s constant dumping was price depressing. Investors reacted enthusiastically. Indeed, the live Ripple (XRP) price at $0.3760 is recording a 3.67% gain compared to yesterday. With this, the bearish pattern has at least now been broken.
As you can see in the video analysis below, this paves the way for a further bull rally.
Still, concerns for a bear rebound are not quite gone. This only happens when the price rises above $0.47, after which a further rise to $0.58 is possible. If not, a price drop of about 40% awaits. So it remains exciting and we will continue to follow the developments.
Want to stay informed about the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”