Top Three Price Predictions Ripple, Bitcoin, and Ethereum: The year 2023 is a trade-by-trade market, and this one appears to be bullish

Since the start of the new year, the price of bitcoin has risen by 3%.The price of Ethereum could recover to $1,400, the midpoint of its trading range in October.The price of XRP is trailing that of ETH and BTC, but it has the potential to explode for significant gains.The cryptocurrency market is making a turn that could lead to more uptrend gains. Still, in the current environment, a countertrend trade is extremely risky, and one should manage their own risk accordingly.

Bitcoin’s price is likely to rise.

Bitcoin price is sending out positive signals, as the peer-to-peer digital currency has risen by 3% since the start of 2023. The bulls established a higher pivot point at $16,333 on December 30 compared to the previous bearish attempt, which was halted at $16,256 on December 19.

Bitcoin is currently trading at $16,854, up 1% on the day after falling just $9 short of the psychological $17,000 barrier. As the market enters its final hour on January 4th, the BTC price appears poised to settle above the recently breached 21-day simple moving average (SMA) at $16,750.

As a result, sidelined bulls may begin to re-enter the market, challenging key levels within December’s trading range. Finally, the December swing high of $18,387 may be challenged, resulting in a 9% increase in BTC’s current market value.

A daily close below the recently breached 8-day exponential moving average (EMA) at $16,500 would rule out the possibility of the newly established uptrend rallying further. As a result, the 2022 low of $15,476 may be liquidated, resulting in a 9% drop from the current Bitcoin price.

The price of Ethereum has entered the October range.

Since the start of the new year, the price of Ethereum has risen by 6%. The bulls have produced a bullish engulfing candle back into the October support zone, bolstering two previous countertrend rallies. The decentralised smart-contract token, like Bitcoin, surpassed both the 8-day exponential and 21-day simple moving averages during its upward move on January 4th.

The current price of Ethereum is $1,216. The current rise is only a 23.6% retracement of the October swing low and swing high, according to a Fibonacci retracement tool. If the market is truly bullish, bulls should be able to rally to the midpoint of October’s trading range at $1,400, resulting in a 12% gain.

A closing candlestick below the recently colliding moving indicators at $1,210 would invalidate the bullish thesis. If the bears break through, they could re-route south and challenge December’s low of $1,150, resulting in a 7% drop.

The price of XRP lags, but it could be the dark horse of the three.

XRP has not joined the bullish trend seen in the other two cryptocurrencies. Ripple is currently trading between the 8-day EMA and the 21-day SMA, with a 1.5% increase in market value since the beginning of the year.

The current XRP auction price is $0.3485. Traders should keep an eye on the recent swing high of $0.3605. Bulls may be waiting for a second attempt to break through the barrier. The $0.37 and $0.4000 swing highs established on December 13 and 27, respectively, would be key liquidity zones of interest. The bullish scenario would imply a 14% increase from Ripple’s current market value.

If the bulls break through $0.3600, the uptrend will be invalidated at the $0.3000 swing low established on January 2. A break of the low would nullify the bullish potential and allow the bears to target the 2020 liquidity levels near $0.2700 and possibly $0.2500, resulting in a 30% drop from Ripple’s current trading price.