As Christmas approaches, attention to cryptocurrency prices is increasing. Although holiday trading tends to be lighter, big moves can still occur.
Here is a snapshot of Bitcoin (btc), Ethereum (ETH) and ripple (XRP), in addition to the levels that could guide the next moves.
Summary
- As Christmas approaches, cryptocurrency trading is lighter, but significant price movements are still possible.
- Bitcoin struggles to break above $90,000, with support around $85,500 and resistance near $93,000-94,000.
- Ethereum is trading below $3,000, with key support at $2,600 unless it rises above $3,200.
- XRP is holding near $1.86, could test the support at $1.77 and may reach $1.96 if market sentiment improves.
- Overall, the cryptocurrency market remains cautious and sideways, with traders eyeing key levels for the next big move.
Current market scenario
As of December 24, cryptocurrencies appear somewhat bearish, with most major coins falling lower. The recent rally is slowing and traders are taking a more cautious approach.
Institutional demand is declining, retail activity is slowing, and Bitcoin, Ethereum, and XRP are struggling to break through key resistance levels. That means the market could stay stagnant or slide a little further.
Bitcoin Price Prediction: Bulls Face Strong Resistance
Bitcoin is struggling to break above $90,000 and is currently trading around $87,000. The rejection points to a fading bullish momentum as both institutional demand and BTC wallet growth show signs of slowing.
If BTC price remains under pressure, it could decline towards the $85,500 support area, with additional losses possible if that level does not hold.
BTC would need a strong daily close above $90,000 for the bulls to get back into the game, which could push prices towards $93,000-$94,000. Until then, caution is likely to prevail among traders.
Ethereum Price Prediction: Selling Pressure Persists
Ethereum is trading around $2,930 after falling below $3,000, showing that caution remains in the market. The net outflows indicate that investors are still pulling out.
Unless ETH price can break above $3,000-$3,200, further declines are possible, with $2,600 acting as the next major support.
XRP Price Prediction: Upside Limited, Key Support in Focus
Ripple remains near $1.86 as uncertainty keeps price action muted. XRP appears caught between fading momentum and nearby support levels.
If XRP price falls, we could see it test the support around $1.77. A bounce from there could take it towards $1.96, but don’t expect big gains unless overall market sentiment improves.
In a nutshell
Cryptocurrency traders are not feeling too optimistic at the moment. Bitcoin can’t seem to break above $90,000, Ethereum is still stuck below $3,000 and XRP is stuck in a tight range with the bears calling the shots.
Until the market decides what it wants to do, it will remain dynamic and sideways. Keep an eye on those important levels – they are likely to trigger the next big change.
