BTC Holds Strong, ETH on Verge of Breakout, XRP Signals Recovery
The top three cryptocurrencies by market capitalization - Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) - are showing signs of recovery after a correction earlier this week.
BTC has found support around $62,300 and is trading at $63,567 on Friday. Despite holding key support, it maintains a bearish bias as it trades below the 50-day, 100-day, and 200-day Exponential Moving Averages (EMAs). The Relative Strength Index (RSI) is around 46, which keeps momentum on the softer side.
Ethereum has been trading sideways since mid-July, sitting above the 50-day EMA at $1,865 but remains capped beneath the 100-day EMA at $1,922. This leaves the near-term bias neutral with a slight upward tilt.
Ripple has recovered after finding support around the key $1.000 mark and is trading at $1.013 on Friday. Despite the recovery, it retains a bearish bias, with the price remaining below the 50-day EMA at $1.087, the 100-day EMA at $1.169, and the 200-day EMA at $1.362.