Top 3 Bitcoin, Ethereum, XRP Price Prediction: Can Fed Decision Catapult BTC Rally?

Crypto markets are showing sigs of revival with recent rally in Bitcoin (BTC) price. This bullish development’s spillover effect caused Ethereum (ETH) price and Ripple (XRP) price to kickstart a recovery rally. As digital assets rally, all eyes are on the charts, anticipating potential breakouts and setting the stage for the next big moves in the crypto market space.

Bitcoin Price Breaks Above 61K

Bitcoin price is on the move today, gaining 4.5% over the last 24 hours to sit at around $61,135. BTC ignited a rally as bulls pushed the price up, overcoming the $60,000 barrier, and is now looking to break above the key resistance level at $62.700.

Based on the Moving Average Convergence Divergence (MACD), Bitcoin price has staged a recovery. The MACD has already crossed the neutral line, showing an uptrend. Also, the blue line is above the orange line, which is a bullish crossover. Traders will focus on Longing for BTC price if the MACD sustains this positive momentum.

In retrospect, inflation data increased the chances of the Federal Reserve enacting the first rate cut of the year in September. Investors expect Bitcoin price prediction to pick up the pace following the cut. A sustained uptrend above $62,000 would clear the course to $66,000, thus narrowing the gap to $70,000.

Ethereum Price Set To Edge Lower

Ethereum price rides on increasing overall bullish sentiment after bouncing off the $2,550 support. Renewed market strength has pushed price up to $2,695, where a resistance is forming.

According to Coinglass, the increase in ETH futures market open interest while volume increases hints at growing optimism among traders. If traders on the spot-market continue to buy, ETH price will break beyond $2,700 and test the next significant resistance level around $2,900

However, for bulls to pull through with a major trend reversal, they must reclaim the short-term hurdle at $2,700. From here, $2,900 will be the next target, followed by $3,400, as ETH price forecast depicts.

XRP Signals Stay Green

XRP price holds above a key trend line support as well as the 20-day, 50-day, and 200-day EMAs after traders jumped on the bullish train during the European trading session on Tuesday.

The MACD buy signal augmented the chances of Ripple price breaking $0.6 resistance, but the uptrend cooled off, reflecting a sluggish broader market. A daily close above $0.63 will help validate the trend reversal expected to take on key hurdles at $0.66 and $0.74

Conversely, the XRP price technical structure does not rule out the possibility of a correction to $0.55, especially with crypto assets experiencing declining trading volume. Therefore, it would be wise for investors to prepare for all scenarios, including an extended pullback to $0.5.