Bitcoin bullish momentum slows down due to dollar index strength
BTC/USD is trading at $11,355 after a mild rejection from the top at $11,720 losing some of its bullish momentum.
ETH/USD had a similar fate and it’s at a higher risk of seeing a longer pullback than Bitcoin.
XRP/USD is the clear loser after breaking below the 50-SMA and the 100-SMA on the daily chart, currently trading at $0.2482 after yet another rejection.
Ethereum Price Prediction: Strong resistance blocks ETH’s foray into $500 – Confluence Detector
The Ethereum community got a pleasant surprise this Wednesday when CFTC chairman Heath Tabert heaped praises on the smart contract platform. The regulator compared Bitcoin and Ethereum by analogizing it with email and the internet. According to Tabert, while Bitcoin and email are “one-trick ponies,” Ethereum can have a much broader impact like the internet.
Ripple Price Prediction: XRP readies for the ultimate liftoff to $0.3
The cross-border token has recently hit a wall at $0.26. The barrier came after XRP found support at $0.22 and recovered steadily. However, the bullish narrative to $0.3 has been delayed by the seller congestion at $0.26.
Meanwhile, XRP/USD is doddering at $0.245 amid a developing bearish momentum. Probably, buyers feel exhausted due to the several rejections suffered at $0.26. However, XRP is accorded with immense support, likely to absorb the selling pressure.