Bitcoin, Ethereum & Ripple — Asian Wrap March 20
Bitcoin price has experienced a quick rally after dipping into the weekly inefficiency to the downside. As a result, the second leg of the uptrend began in March, pushing BTC to nine-month highs and another inefficiency to the upside. However, the big crypto seems to be developing a divergence on the three-day chart, which could be an opportunity to accumulate or sell-signal for bears. But as the banking crisis deepens, this move could affect the BTC’s next move.
Ethereum price (ETH) earned a significant price gain on March 18 when it broke beyond the $1,800 level. However, recent market data shows that a significant chunk of ETH was transferred to the Binance exchange at 1:30 AM ET, casting doubts on a possible sale happening. The transfer resulted in the largest altcoin by market cap losing part of its market value.
XRP price shows a clear struggle between the buyers and sellers or the lack thereof. As a result, the remittance token has been in a multi-month consolidation. Additionally, the relisting of Ripple on the US-based crypto exchange Coinbase, as mentioned by Paul Grewal, the platform’s Chief Legal Officer, adds credibility to the bullish thesis.
