Top 3 Price Predictions for Bitcoin, Ethereum, and Ripple: A increase in volatility is anticipated for BTC, ETH, and XRP surrounding the release of the US CPI.

After rising 5.52% the day before, the price of bitcoin is currently trading at $82,700 on Wednesday.
The price of Ethereum is currently trading at its weekly support level of $1,900; a strong closing below that level would indicate a further decline.
Support for XRP is found near its daily level of $1.96, suggesting that a rebound is imminent.

After rising 5.52% the day before, the price of bitcoin (BTC) is currently trading at $82,700 on Wednesday. As these coins anticipate turbulence around the US Consumer Price Index (CPI) data release on Wednesday, the price of Ethereum (ETH) is weak while the price of Ripple (XRP) is showing indications of recovery.

As its RSI indicator recovers from oversold circumstances, Bitcoin suggests a comeback.

On Sunday, the price of bitcoin fell 9.14% till the following day after breaking below its 200-day EMA at $85,664. But on Tuesday, Bitcoin retested, found support at the $78,258 mark, and gained 5.52%. It is currently trading at over $82,700 as of this writing on Wednesday.

Bitcoin may continue to fall and retest its next support level at $73,072 if it corrects further and closes below $78,258 (the low from February 28).

After rebounding from 30 on Monday, the Relative Strength Index (RSI) on the daily chart now stands at 40, pointing upward and suggesting a possible change from oversold circumstances and waning bearish momentum. But for the recovery rally to last, the RSI needs to rise above its neutral level of 50.

Bitcoin might continue its rebound to $85,000 if bullish momentum continues to build.

The price momentum indicator for Ethereum shows weakness.

Monday saw a 7.69% drop in the price of Ethereum, but the following day it rebounded 3.13% and finished above the weekly support level at $1,905. As of this writing on Wednesday, it is around $1,905 per week.

ETH may extend the downturn to retest its next support level at $1,700 if it keeps falling and closes below the $1,905 mark.

Strong bearish momentum is shown by the daily chart’s RSI of 32, which points downward to its oversold level of 30.

However, if ETH bounces back, it might continue to do so to challenge its next daily resistance level, which is $2,359.

If Ripple's $1.96 level holds as support, it might bounce back.

The price of ripple regained 7.40% on Tuesday after retesting its daily support of $1.96. It is still rising as of this writing on Wednesday, trading at about $2.20.

The price of XRP may test its next resistance level at $2.72 if it keeps recovering.

Fading bearish momentum is indicated by the daily chart’s RSI, which is 44 and trending upward toward its neutral level of 50. But for the recovery rally to last, the RSI needs to rise above its neutral level of 50.

However, XRP may continue to drop to test its February 3 low of $1.77 if it experiences a correction and closes below the $1.96 daily suppor

FAQ

Why is the price of Bitcoin (BTC) expected to be volatile around the US CPI release?

The release of the US Consumer Price Index (CPI) data can significantly impact market sentiment, influencing inflation expectations and Federal Reserve policies. This, in turn, affects Bitcoin’s price, causing increased volatility.

What is the key support level for Ethereum (ETH), and what happens if it breaks?

Ethereum’s key support level is $1,900. If ETH closes below this level, it may extend its decline to the next support at $1,700, signaling further bearish momentum.

Is Ripple (XRP) showing signs of recovery?

Yes, Ripple (XRP) rebounded by 7.40% after testing its daily support at $1.96. If it continues upward, it may challenge the next resistance at $2.72. However, if it closes below $1.96, further downside to $1.77 is possible.

What technical indicators suggest Bitcoin’s price recovery?

Bitcoin’s Relative Strength Index (RSI) recovered from oversold conditions, currently at 40 and pointing upwards. If RSI surpasses 50, it could confirm a stronger bullish momentum, potentially pushing BTC towards $85,000.

How does the RSI affect Ethereum’s price trend?

Ethereum’s RSI is at 32, approaching the oversold level of 30, indicating strong bearish momentum. A rebound above 50 would signal a shift towards a bullish trend, allowing ETH to challenge its next resistance at $2,359.