Home / Cryptocurrency / Ripple Price Prediction – Top Cryptocurrencies Enter Meltdown mode together with the stock market

Ripple Price Prediction – Top Cryptocurrencies Enter Meltdown mode together with the stock market

Bitcoin and altcoin have started this new week with significant losses, which means buyers are not yet able to take the initiative and change the situation. Many experts believe that this is a delayed investor reaction to the CFTC requirement for the most significant exchanges such as Coinbase, Kraken, Bitstamp and itBit to provide the US regulatory agency with all commercial transaction data since the launch of Bitcoin futures .

What does this mean for the whole crypto community? First of all, CFTC will be able to have all the necessary information on the operators' activities, which "kills" the privacy. The reaction of the community encrypted to this requirement is reasonable as a huge amount of traders and investors will have to switch platforms to maintain a high level of confidentiality.

There is another event that could push Bitcoin and other cryptos down. A small exchange in South Korea was violated and almost 40 million coins were taken. It's not a huge attack like the one we saw when hacked attacked MTGox, but it erodes trust in the cryptic community, which is vulnerable.

Price analysis of Bitcoin (BTC / USD), 11 June

Bitcoin has lost more than seven percent in the last 24 hours, which means that the cryptocurrency has ended its upward correction and has started to fall again. The price of the BTC is consolidating at the moment but we have a clear bearish flag, which could lead to a further slowdown of the BTC / USD in the near future.

Let's take a closer look at what's happening on the hourly chart. The currency pair has surpassed several support areas for $ 7,565, $ 7,341, $ 7,181 and $ 6,943 over the weekend and has stood near the next support area for $ 6,718. BTC / USD floats there at the time of writing. The possible ways for the currency pair are as follows:

1. Red (bearish) scenario. BTC / USD will develop its downward trend after breaking the support area closer to $ 6,718. The next support area will be at $ 6.510 (our mid-term goal).

2. Orange (neutral) scenario. Bitcoin will remain within the current range, limited by the resistance area at $ 6,943 and the support area at $ 6,718 without significant price changes.

3. Green scenario (bullish correction). The currency pair will cross the resistance area closer to $ 6.943 by directing the next resistance area to $ 7.181.

Price analysis of Ethereum (ETH / USD), 11 June

The currency pair has lost almost six percent in the last 24 hours. Ethereum seems to end the upward correction and return to its downward trend. The ETH price is consolidating at the moment. It seems that ETH / USD is ready to make an upward correction after a huge downward momentum.

Let's take a closer look at what is happening on the hourly chart. ETH / USD exceeded several support areas including $ 566.90, $ 540.69 and touched the $ 500.36 support area. The price rose from this level starting a bullish correction. The possible ways for ETH / USD are as follows:

1. Red (bearish) scenario. Ethereum will cross the support area closer to $ 500.36 and move lower, directing the next support area to $ 473.39.

2. Orange (neutral) scenario. The ETH / USD will remain within the current range, limited by the support area at $ 500.36 and the resistance area at $ 540.69.

3. Green scenario (bullish correction). The currency pair will cross the resistance area closer to $ 540.69 and move higher, targeting the next resistance area at $ 566.90.

Ripple (XRP / USD) Price analysis, June 11th

The currency pair has lost almost six percent in the last 24 hours. The ripple seems to end the upward correction and go back to the downward trend. The XRP / USD is consolidating at the time it was written and a bullish correction is likely to commence.

Let's take a closer look at XRP / USD on the hourly chart. The currency pair has surpassed several support areas including $ 0.6216, $ 0.5914 and nearly reached a $ 0.54444 support area. The XRP / USD jumped from this level later and re-reached $ 0.5914. The possible ways for XRP / USD are as follows:

1. Red (bearish) scenario. Ripple will cross the support area closer to $ 0.5444 and move downwards, aiming for the next support area at $ 0.5088.

2. Orange (neutral) scenario. The XRP / USD will remain in the current limited range from the support area to $ 0.5444 and the resistance area at $ 0.5914.

3. Green scenario (bullish correction). The currency pair will cross the resistance area closer to $ 0.5914 targeting the next resistance at $ 0.6216.

EOS (EOS / USD) price analysis, 11 June

The currency pair has lost almost 15 percent in the last 24 hours. EOS has surpassed the upward trend line, which means that the currency pair has ended its upward trend and has returned to the downside. EOS appears to establish a bearish flag, which could result in a further decline in EOS / USD.

Let's take a closer look at what's happening on the hourly chart. The currency pair has surpassed several support areas and has reached a $ 10.54 support area. EOS / USD have stopped here and have started to consolidate. The possible ways for EOS / USD are as follows:

1. Red (bearish) scenario. The currency pair will break through the $ 10.54 support area and move the lower targeting to the next support area for $ 9.91.

2. Orange (neutral) scenario. The currency pair will remain within the current limited range of the resistance area at $ 11.41 and the support area at $ 10.54 without significant price changes.

3. Green scenario (bullish correction). EOS / USD will break through the resistance area closer to $ 11.41, aiming for the next resistance at $ 11.92.

Price analysis NEO (NEO / USD), 11 June

The currency pair has lost almost nine percent in the last 24 hours. The NEO seems to end the upward correction and return to the downtrend. NEO / USD form a sort of flag on the hourly chart, which means that the currency pair has an additional fall potential.

Let's see what's happening with NEO on the hourly chart. The currency pair went through several support areas over the weekend and stopped at $ 44.55 in support area. NEO / USD is consolidating at the time of writing. The possible ways for the currency pair are as follows:

1. Red (bearish) scenario. NEO / USD will exceed support of $ 44.55 and move lower, directing the next support area to $ 41.51.

2. Orange (neutral) scenario. The currency pair will remain within the current limited range from the resistance area at $ 48.98 and support at $ 44.55 without significant changes.

3. Green (bullish) scenario. NEO will cross the resistance area at $ 44.55 and will move higher targeting the resistance after $ 50.24.

Risk management, trading psychology as key factors for the success of Crypto Trading
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