BTC, XRP, ETH Price Prediction as Gold, Swiss Franc Ride the Safe Haven Wave

This BTC, XRP, and ETH price prediction explains their outlook as gold and Swiss franc emerges as top safe haven assets.
By crispus
Crypto Market Highlights This Week: What's Up With BTC, XRP, ETH?

Highlights

  • Gold and Swiss franc have become the best-performing safe-haven assets this year.
  • ETH price has formed a falling wedge, raising the probability of a rebound.
  • Bitcoin is on the verge of a breakout if it moves above the 50-day moving average.

The crypto market continue to waver this week as fears of a downturn in the United States remain. Ethereum has stalled below $1,500, while Bitcoin and Ripple have remained in a narrow range. In contrast, gold and the Swiss franc have continued to attract the attention of investors because of their safe-haven roles. This article provides a BTC, XRP, and ETH price prediction and what to expect.

Advertisement
Advertisement

Swiss Franc and Gold are Doing Well as Safe Haven Demand Rises

The Swiss franc (CHF) and gold (XAU) have maintained their role as good assets as concerns about a recession remain. Gold price has surged to $3,330, bringing the year-to-date gains to 25%. It has moved to its all-time high and is one of the best-performing assets this year.

The CHF has also soared in the past few months. The USD/CHF exchange rate rose for five consecutive weeks and is trading at its highest level since 2021. 

These two assets have surged because investors see them as safe-haven assets. Gold has a long heritage as a safe asset, and is seeing more demand from central banks and institutional investors.

On the other hand, the CHF is seen as a safe haven because of the strength of the Swiss economy and the fact that the country is neutral on geopolitical issues. 

Bitcoin is also gaining its strong credentials as its price has remained at $84,000 this week. It has dropped by 8% while the Nasdaq 100 and S&P 500 indices have fallen by 13% and 12%, respectively. 

Bitcoin vs S&P 500 vs Nasdaq 100
Bitcoin vs S&P 500 vs Nasdaq 100

ETH Price Prediction

Ethereum price has crashed this year. On the 1D chart, it has slumped below the crucial support level at $2,140, the neckline of the triple-top pattern. On the positive side, the coin has formed a giant falling wedge pattern, which happens when there are two falling and converging trendlines. 

These two lines are about to converge, meaning that a breakout is possible. If it does, the most likely ETH price forecast is bullish, with the initial target being at $2,140, the neckline of the triple-top pattern. The bullish outlook will be cancelled if the coin drops below $1,385, the lowest point this year.

ETH Price Chart
ETH Price Chart

BTC Price Technical Analysis

Bitcoin price has remained in a tight range above $84,000, after it formed a double-bottom pattern at $76,650 in March and April. It is attempting to move above the 50-day moving average. 

A move above that level would confirm the bullish outlook of the double-bottom and point to more gains to the neckline at $88,745. A surge above that level means that the BTC price may surge above $90,000.

The alternative scenario is where it pulls back and retests the double-bottom at $76,650.

BTC Price Chart
BTC Price Chart

XRP Price Forecast

Like BTC, the XRP price has remained in a tight range in the past few days. It has stalled at a key resistance level where the descending trendline connects the highest swings since January. Also, the coin has found a strong resistance at the 50-day moving average. 

XRP Price Chart
XRP Price Chart

Therefore, a strong XRP price rally will be confirmed if it rises above the descending trendline and the 50-day moving average. If this happens, the coin will then soar to $2.90, which coincides with the neckline of the head and shoulders pattern.

Advertisement

Frequently Asked Questions (FAQs)

1. Why are gold and Swiss franc soaring as recession risks rise?

Gold and Swiss franc have soared because of the rising demand for safe-haven assets as recession risks rise in the United States.

2. What is the most likely ETH price prediction?

The most likely ETH price forecast is bullish since it has formed the bullish falling wedge pattern on the daily chart.

3. Is Bitcoin a good safe haven asset?

Bitcoin is often seen as a safe haven asset because of its high demand and limited supply. However, it is still a young asset that has not survived major downturns.
crispus
Crispus is a seasoned Financial Analyst at CoinGape with over 12 years of experience. He focuses on Bitcoin and other altcoins, covering the intersection of news and analysis. His insights have been featured on renowned platforms such as BanklessTimes, CoinJournal, HypeIndex, SeekingAlpha, Forbes, InvestingCube, Investing.com, and MoneyTransfers.com.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.