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XRP, Tron (TRX), Ethereum (ETH) – According to an analysis conducted by a senior analyst at the popular e-Toro investment platform, Mati Greenspan, published by our portal yesterday , Bitcoins could be on the way to another downward trend as sales pressure increases, despite the 20% increase in Bitcoin in the last three months.
According to the impressions of the economist, Bitcoin would stop being relatively attractive for investors, as the increase in interest in other altcoins grows due to their potential in recent times.
In this post we will try to perform a fundamental and technical analysis on the XRP, ETH and TRX scenario for these three coming months and how the sales pressure could affect their particular markets.
Ripple (XRP) 2019 Price Prediction
The third largest cryptocurrency by stock market capitalization, XRP, has recently seen adoption growth in use cases with recent alliances and product improvements. At the time of writing it presents a contraction of its price at -0.31% and has remained laterally moving between the support bands of $0.28 – $0.30.
There are several speculative theories about the possibility of prices for Ripple’s XRP at the end of 2019, some very optimistic view indicate the possibility of XRP reaching the price of $20, and others place it at $5.
Ripple is constantly adding new customers. It is not just about adding new clients, but also customers with brand names as well as banks around the world. In addition, many financial institutions are also using the Ripple protocol to transfer money, which could be a reason to think that XRP is undervalued.
Ripple Labs Inc. is developing new technologies that can further boost the adoption of its payment protocols. xCurrent, xVía, xRapid , are some of the protocols already launched and used by many companies.
With the increased adoption of these technologies, the price of XRP will likely also increase. Ripple is the Blockchain or cryptocurrencies company with the greatest potential in the world for many. To get an idea, RippleNet is active in more than 40 countries in six continents , providing new access to better international payment services in the remittance markets, a market that has an estimated value of $600 billion per year according to the World Bank .
In addition, xRapid partnered with Fleetcor , a $19 billion payment services firm in the US, which has a number of valued customers who will indirectly use the XRP token.
To make matters worse, XRP is the first cryptocurrency on the virtual platform of SBI Holdings. This will undoubtedly increase the popularity and usage of the token, in conjunction with its volume.
As we can see, there are enough fundamental technical arguments to think that the XRP token could be close to a massive adoption that means an appreciation of its price in the medium term.
Ripple does not lack capital and this sets it apart from almost any other startup with similar projects. Despite its detractors on the ‘centralization’ of the currency by global financial institutions, Ripple maintains the vanguard in promotion, development and application of its platform, as the recent announcement to support the gaming industry with $100 million dollars of investment in that sector.
Ripple (XRP) 2019 Price Prediction: Bearish or Bullish Scenario
Now, to produce the next bearish scenario indicated by the analyst of e-Toro, we do not doubt that the token will NOT keep the forecast indicated above in our last post for the coming three months:
However, based on indicators for the same period, despite the bearish trend in the medium term, there is a chance that the previous scenario will continue but with less force:
As we can see, the equilibrium of the purchase-sale pressure (RSI) at this moment keeps XRP token in a latency species, which could be projected downward by the generalized feeling of the rest of the crypto market, or on the contrary, continue towards resistance levels (R1) as projected by the Stochastic indicator.
And the fundamentals lie in the fact that XRP token is one of the few, if not the only, that has performed best in its short seven years of history against Bitcoin.
In addition, the news around Ripple improves every day, and could be one of the altcoins where investors are headed when the selling pressure falls on Bitcoin in the next three months, as predicted by the e-Toro analyst.
Also Read: B itcoin (BTC), Monero (XMR), Basic Attention Token (BAT) Price Prediction: Best & Worse case scenario for 2019/2020
The reason is simple: XRP continues to gain value against BTC in the long term . A series of higher lows in the last 3 years is a sign of strength, not weakness.
Tron (TRX) 2019 Price Prediction
Justin Sun, CEO and Founder of TRX, who used to be the main representative of Ripple (XRP) for China, has proven to be able to nurture and contribute to his personal TRON project through strategic alliances such as Alibaba-China and ChainLink. The increase in the value of TRX last year is seen as being notorious despite the crypto winter.
Self-proclaimed as the “killer of Ethereum”, TRON (TRX) has managed to dominate the market of the Dapps through a varied and interesting marketplace of decentralized apps. Its most recent update of Odyssey 3.1 achieved with the consensus of the community, generated more confidence in the cryptocurrency, allowing it gain position as one of the top ten cryptos of the ecosystem.
At the time of writing, TRX remains in the tenth box quoting at a value of $0.0224 with a growth of 0.67% in the last 24 hours.
The Justin Sun allied project, BitTorrent, through a new ICO managed to increase the price of the BTT token six times and substantially consolidated the price of TRX. In addition, BitTorrent (BTT) has been moving parts to achieve greater adoption through alliances with BitForex, a Fx market company and the Chinese OTCBTC exchange, to be able to list the token in those platforms and thus achieve greater adoption and use, which generates better benefits in its price.
Tron like Ripple, has also announced the investment in the field of gaming with a fund of $100 million USD to be invested in this industry in the next 3 years (Tron Arcade). This will allow developers have a platform and money to build in the TRON Blockchain.
Also Read: Price Prediction: EOS, Litecoin (LTC) and Tron (TRX) Promise Profitability in Short Term
As we can see, TRON (TRX) could be among the cryptocurrencies that could eventually benefit from a new bear market in Bitcoin, according to the e-Toro analyst. Tron (TRX) has three qualities to be considered as a secondary market option in which investors could turn to when leaving BTC:
rapid growth of transactions (more than 100 million in 173 days), greater use and development of Dapps on Tron network which has surpassed Ethereum, and an approach to the entertainment market valued at more than $1 trillion dollars.
Tron (TRX) 2019 Price Prediction: Bearish or Bullish Scenario
However, all these benefits of growth and expansion, take time to materialize and we still consider that TRON is at a very early stage of development, so coupled with the high emission of tokens it has (crucial point to devalue the value of any currency), we do not see the crazy collateral scenario of negative effect on the cryptocurrency will have for the next three months, as accelerated by the projection of the e-Toro analyst.
In the best case, we can visualize that the TRX token will be moving between the price bands of $0.0213 and $0.04.
For now TRX/USD is in consolidation, trading between $0.028 and $0.0227 in the lower demand area of the range. A break in the upper supply area or a break in the lower safety supply area of a new test may occur, so patience is required to allow this to happen before a position is taken.
Ethereum (ETH) 2019 Price Prediction
The second cryptocurrency by stock market capitalization, Ethereum (ETH), has had an interesting movement in the last weeks, after recovering its second position from Ripple token (XRP). Currently it is trading at a spot price of $133.52 USD per unit and a positive change of 0.04% in the last 24 hours.
According to Ethereum co-founder Steven Nerayoff, the market capitalization of Ethereum will increase to $110 billion . This is almost 3 times higher than the current market capitalization. This is one of the reasons why it might actually increase significantly. According to him, the amount of products being built in the Ethereum block chain is increasing, thus a possible factor that will rocket its market cap.
In addition the general director of Polychain Capital, Carlson-Wee, said Ethereum will pass to Bitcoin. He noted that Ethereum is allowing users to create applications that could not be imagined a few years ago. That is why he believes in the increase of Ethereum significantly.
Also Read: Cardano (ADA) 1.5 Release: A Step Closer To Shelley Era, A Reason For An Imminent Price Pump
The Ethereum Blockchain (ETH) is one of the most useful in the Blockchain space. However, the project is paying a high price for the many false projects (ICO) that used the Ethereum protocol in 2017 and 2018. This has caused Ethereum to continue to drop considerably from its historic high of $1200 to current levels of $ 133.52. losing almost 90% of its value, with a higher speed compared to other assets.
However, the increasing decentralized applications and uses case through the Ethereum platform as well as smart contracts, in spite of the hard competition from Tron and EOS, has managed to improve and bring hopes of being able to reach out for a price improvement, after leveling its price close to two digits at the beginning of the year.
The current Ethereum scenario is a bearish movement, after reaching a maximum of $144 on March 6. In the last sessions, ETH has resistance of $138 and $142 levels. The main resistance is close to the $150 level, where sellers could take a position if the price continues to go higher.
On the other hand, if there is a break below the support price of $131, the value could move towards a bearish zone, up to a solid support levels of $ 120.34 .
Even though many have been optimistic to indicate that Ethereum could reach levels of $1000 by the end of 2019, we do not see sufficient support despite the improvements of its protocols from PoW to PoS and the upgrades of Constantinopla and Casper.
Therefore, we believe that a bear market of Bitcoin, could push Ethereum to bearish levels in the next three months, given the strong dependence of Altcoin on its prices with respect to Bitcoin.
The post XRP, Tron (TRX), Ethereum (ETH) 2019 Price Prediction: Will Bitcoin Selling Pressure Cause Bearish Trend? appeared first on Today's Gazette - Cryptocurrency, Bitcoin, Ripple, Tron, Verge, Cardano News .