- Is it about time Ethereum surges after maintaining under $4K for long?
- Ripple tightens its range.
Ethereum and Ripple behaved somewhat different during the crypto upswing in 2021’s several months and over the 2nd bullish phase during August sessions. However, the altcoins diverged since the start of September. Ethereum showed resilience once more, especially this month. On the other hand, Ripple did not show multiple upward gestures.
Ripple and Ethereum saw their values increasing by nearly 250% since July when the crypto market bullish momentum ended and the coins retraced in September. However, XRP declined under its entire MAs on the daily price chart, Ethereum secured support around the 200 daily Simple Moving Average.
ETH managed to bounce off the Moving Average and rose beyond all of them before flipping the 50 Simple Moving Average into its support on the time frame price chart. Meanwhile, Ethereum has had its price fluctuating near $4K for some time. Such price movements show that the alt does not encounter massive rejection. For now, ETH has a high probability of rallying past the level with bullishness in the crypto market lately.
ETH Bounced Of the 20 SMA – Weekly Chart Analysis
Ethereum’s weekly chart also suggests bullishness for the altcoin. The ‘smart’ contracts crypto created a base near $1,700 after seeing retreat in May-June. After that, it surged beyond $4,000. However, the asset experienced another retracement in September and moved down towards the 20 Simple Moving Average.
For now, the crypto has bounced from the MA again and trades near the $4,000 as highlighted above. With that, Ethereum has what it takes to record another ATH in the coming sessions.
Ripple Price Prediction
On the other side, the Ripple coin failed to show its determination to rally higher. XRP/USD has remained slow as far as gains are concerned since declining in September. XRP moved past MAs, but it has encountered massive selling momentum whenever it surges beyond $1.20.
The legal battle between SEC and Ripple Labs has been controlling XRP, preventing bullish runs as market players await the outcome. As the alt bounced down and up, it has created a triangle. Moreover, the range has gotten narrower. XRP might see a breakout in the upcoming sessions and is likely to rise. However, stay around for what might come.