Bitcoin, Ethereum, and Ripple Prices: What to Expect
Bitcoin price faces risks of a downtrend
- Bitcoin price breaks down, exposing BTC to the risk of sliding below the key $24,500 June lows.
- Ethereum price could fall 10% to the $1,400 range if BTC price shows weakness below $25,586.
- Ripple price eyes continued downtrend as XRP tests the descending parallel channel at $0.4600.
Bitcoin (BTC) price indicates signs of an impending slump after losing a critical support level. The gloom has extended to Ethereum (ETH) and Ripple (XRP) prices, as the broader market downtrend becomes clearer now more than ever before.
Ethereum price risks 10% fall
Ethereum price (ETH) is $1,575 at press time, sliding south with a forecasted 10% slump to $1,407 if Bitcoin price tags $24,500.
Ripple price to fall back to the confines of a bearish pattern
Ripple (XRP) price tests the upper boundary of a descending parallel channel, with momentum indicators (RSI and AO) showing a possible breakdown back into the foothold of this bearish technical formation.
Ripple FAQs
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
