XRP and ETH prices how will they go? Will the big players stumble?
Bitcoin has been trying to hold the $100,000 mark recently, but ETH and XRP seem to be indicating a short-term pullback.
Whenever the Federal Reserve adjusts interest rates, the crypto market suffers. As soon as Chairman Powell speaks, Bitcoin immediately drops to $98,500. Although it later rose back to $100,000, the risks are still present. Analysts say that BTC might be sold off. AMBCrypto also mentioned that BTC is underperforming, dragging down Ethereum (ETH) as well.
Ethereum (ETH) was holding steady above $4,000, but once the selling pressure increased, it fell to $3,670. AMBCrypto stated that ETH is currently adjusting, and if it can hold above $4,000, it can still continue to rise. They predict that ETH might first rise to $3,700 before pushing to $4,000. If the trendline support breaks, the upward momentum that started in November may reverse.
However, if ETH cannot hold the support of the adjustment zone, it may drop to between $3,300 and $3,100.
As for XRP, despite a 10% drop, the trend support for the fourth quarter has still held. AMBCrypto said that the remaining time this year makes this support point very critical. If the bulls can maintain a support level of $2,309, they could push towards the resistance level of $2.8. If XRP retains its support level, it might return to the peak of $3.3 from 2021. Ripple's new stablecoin RLUSD also helped support XRP. However, if XRP cannot hold $2,309, short-term sellers may come under pressure. AMBCrypto also mentioned that if it were to drop, the range between $2 and $1.6 could be an important support.
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