XRP Surges 75%: Crypto Market Follows Bitcoin, Altcoins Rally

• Bitcoin (BTC) attempted a mild recovery of 2%, while Ethereum’s Ether (ETH) and XRP coin gained 1% and 6% respectively.
• Technical analysis suggests that Bitcoin is unlikely to close the week above $30,000, while Ethereum might retest or even breach its support at $1,860 by the end of the week.
• XRP coin price surged 75% due to Ripple’s major win in the lawsuit against the US Securities and Exchange Commission (SEC).

Crypto Market Uptrend

The crypto sector picked up 1% on July 20, following Bitcoin’s move above $30,000 and XRP’s explosive rally. Several altcoins, including Ethereum’s Ether (ETH), Binance coin (BNB), Cardano (ADA), Solana (SOL), Dogecoin (DOGE), Polygon (MATIC), Litecoin (LTC), and Polkadot (DOT) followed suit.

Bitcoin Price Prediction

The flagship crypto attempted a mild 2% recovery in the previous 48 hours after losing 7% of its valuation the week prior. However, BTC is unlikely to close the New York session above the $30,000 line. Furthermore, according to several bearish technicals, $29,000 remains a likely target before the week’s end on July 23. Despite the uptick, Bitcoin fell below its 20-day exponential moving average (EMA-20; red wave) as the trading volumes declined. The MACD oscillator was also still in the bearish zone, predicting more losses ahead along with relative strength index(RSI). While price action established higher highs and flat lows RSI printed lower lows intensifying bearish expectations thus $29K target seems likely by end of week.

Ethereum Price Prediction

Ethereum token reached over $1,910 on July 20 after a moderate 1% upward correction identical to Bitcoin’s price action. Moreover ETH also slipped below its EMA-20 hinting that token may not see any substantial uptrend before weeks end. Additionally Ethereum’s RSI rang warning bells like Bitcoins consistently printing lower highs since Jan 2023 ETH also retested resistance at $1930 & if trading volume decline continues threatens to retest or even breach support at 1860 by end of week .

XRP Price Prediction

XRP coin price gained 6% to 081 on July 20 as part of second leg up after explosive 75+ percent surge since 13th july due to Ripple’s major win in lawsuit against US Securities & Exchange Commission SEC .

Conclusion

The crypto market showed signs of an uptrend on July 20 following Bitcoin’s move above 30K & XRP’s explosive rally however it’s too early to celebrate various technical analysis suggests that it might not close at expected levels for most coins by weeks end .