$BTC Price prediction for Bitcoin, ETH, and XRP: What to expect in December 2024!
The post Price prediction for Bitcoin, ETH, and XRP: What to expect in December 2024! first appeared on Coinpedia Fintech News.
The cryptocurrency market concluded November on an optimistic note, and major cryptocurrencies recorded significant price increases. Additionally, with the price of Bitcoin floating near the 100,000 dollar mark, the crypto space has reached a new ATH.
Will the top 3 cryptocurrencies resume December on an optimistic note? In this article, we cover short-term market sentiments about Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) cryptocurrency tokens.
Bitcoin (BTC)
Despite recording a neutral trend over the past seven days, the price of BTC surged ~39% in November. Additionally, with a market capitalization of 1.909 billion dollars, the Bitcoin token currently has a market dominance of 56.13%.
BTC analysis at the end of December
The simple moving average (SMA) supports the BTC price chart on the daily timeframe. Additionally, the RSI indicator floats near its overbought range. This indicates an increase in bullish market sentiment towards the leading cryptocurrency.
If bullish sentiment continues, the price of Bitcoin will exceed its target price of 100,000 dollars and head towards its high of 110,000 dollars. Conversely, a bearish reversal could take the price towards its lower support level of $81,000.
Understanding the long-term prospects of the BTC token? Read CoinPedia's Bitcoin price prediction!
Ethereum (ETH)
The price of ETH has gained a lot of attention in recent days. This resulted in an ~8% addition to the price of Ethereum this week. Moreover, with a monthly performance of 47.07%, this altcoin surpassed the 3,650 dollar level.
ETH analysis at the end of December
The moving average convergence divergence (MACD) shows a consistent green histogram and its averages record a steady increase. Additionally, the 50/200 day EMA shows a Golden Cross daily, highlighting a bullish outlook.
Maintaining the price above its resistance level of $3,697 could set the stage for the price of ETH to head towards its high of $4,100. On the other hand, if bears overpower bulls, the leading altcoin could retest its lower support level of $3,000.
Ripple (XRP)
The price of XRP continued to gain momentum despite the current market turmoil. The price of Ripple has surged 264.89% this month, surpassing the 1.8 dollar mark. With a market capitalization of 106.76 billion dollars, it ranked fifth.
XRP analysis at the end of December
The relative strength index (RSI) continues to float above its overbought range in the 1D range, and its average trend line experiences a bullish crossover. This suggests that the Ripple token could continue to gain momentum next week.
If the market favors the bulls, the price of XRP will head towards its high of 2.5 dollars. On the other hand, if a trend reversal occurs, the Ripple cryptocurrency token could retest its support line of 1.50 dollars this year.
To know the answers to questions such as when will Ripple's price reach the new ATH, read our XRP price prediction.
Frequently Asked Questions
How high will the price of BTC go?
If bullish sentiment continues, the price of Bitcoin will exceed 160,000 dollars in 2025.
Will the price of Ethereum reach $5,000?
For this altcoin to reach this target price, it will need a 35.56% increase in its valuation.
Will XRP reach 2 dollars?
