- Cryptocurrency prices held steady this week as investors focused on the Bitcoin ETF news.
- The SEC is expected to approve these ETFs in the coming months or weeks.
Cryptocurrency prices had a relatively stable week as stocks and bonds continued their meltdown. Bitcoin initially jumped to the important resistance level at $30,000 after a fake news that the SEC had accepted Blackrock’s BTC ETF.
Fidelity also modified its ETF application filing while the SEC chair, Gary Gensler, said that the agency was still reviewing these applications. Bitcoin price was trading at $29,000 even as the Nasdaq 100, Dow Jones, and the fear and greed index retreated. This article looks at some of the top cryptocurrencies to watch, including Ripple (XRP), Solana (SOL), and Stellar Lumens (XLM).
Ripple price prediction
Ripple (XRP) price has moved sideways in the past few weeks as big whales move their tokens. The token peaked at $0.9267 after Ripple won a major lawsuit against the SEC and then retreated to $0.4377. This decline happened as investors sold the news. It has remained in this range since late August.
XRP is now oscillating at the 50-day exponential moving average (EMA) and is slightly above the important support at $0.4611, the lowest swing on September 11. Its recent price action mirrors that of Bitcoin, which has been stuck between $25,000 and $30,000.
Ripple is also above the ascending trendline that connects the lowest levels since January 6th. Therefore, the outlook for Ripple is neutral for now as investors wait for the next Bitcoin ETF news. The key level to watch will be $0.5486, the highest point on August 28th and October 11th.
Solana price forecast
Solana has been one of the best-performing big cryptocurrencies in the past few weeks. Its recovery continued as the Sam Bankman-Fried (SBF) trial continued in the US. Solana is one of the cryptocurrencies that FTX and Alameda Research held. Most recently, the FTX estate staked some Solana tokens.
Solana has risen from $13.17 in June to $26.50 on Friday. As it rose, the token moved slightly above the important resistance level at $26.14, the highest point in January, February, and April this year.
Solana price remains above the 50-day exponential moving average while the Relative Strength Index (RSI) has risen to the overbought level. Therefore, the outlook for Solana is bullish, with the next level to watch being at $32.32, the highest swing in August.
Stellar Lumens price prediction
Stellar Lumens (XLM) has been under pressure in the past few months. Like XRP, the XLM token surged to $0.20 after the Ripple lawsuit verdict and then retreated. It has now moved below the important support level at $0.1148, the highest swing on April 1st.
XLM remains slightly below the 50-day moving average while the Relative Strength Index (RSI) has been in a downward trend. Its daily traded volume has dropped while the price is stuck slightly above the first support of the Woodie pivot point. Therefore, the outlook for Stellar Lumens is bearish, with the next level to watch being at $0.094.
Read more: How to buy Stellar Lumens.
