Bitcoin (BTC) Price Ahead of Big Move, Ripple (XRP) Predictions and More: May 30 Bit Recap

TL;DR

The price of BTC has recently fluctuated between $67,200 and $70,000, currently at $68,000. Analysts are predicting a major bomb, with some predicting it could reach $150,000, driven by the impact of Bitcoin ETFs. Ripple’s XRP is trading around $0.524, with expectations for a significant increase. Key targets are $1.20 to $1.50, with a critical breakout point between $0.70 and $0.75. Dogecoin faces significant resistance between $0.166 and $0.171, but could double if it breaks this barrier. BTC Price Outlook

The major cryptocurrency has seen some turbulence in recent days, ranging from $67,200 to $70,000. It currently stands at the $68,000 level, registering a decline of 1% on a daily basis.

Numerous analysts believe that BTC is gearing up for another major rally, with some predicting new all-time highs. Popular X user Lark Davis recently predicted that the price of the asset will explode to $150,000, while Ethereum (ETH) will take advantage of $15,000.

He argued that BTC’s bull run will be fueled by Bitcoin ETFs, which attract “hundreds of millions” of dollars in daily inflows.

“Imagine the scenes where retail is here and the bull market is at its peak. When countries, wealth managers, pension funds and retail trade will be buying billions of dollars worth of ETFs newspapers,” he added.

Another bullish analyst is Crypto Rove, who claimed that the supply of BTC “available to the masses” is gradually diminishing, suggesting that a “huge bull market is imminent.”

On this note, it is important to mention an important mechanism that is part of the Bitcoin supply system and has a direct impact on its inflation rate: BTC halving. It occurs roughly every four years and cuts miner block rewards in half, with the last one a month ago.

After the event, BTC production is halved, making the asset scarcer and potentially more valuable over time (if demand increases or stays the same). Historically, the process has been a precursor to a massive bull run for the leading digital currency and the entire crypto market. Those who are curious to learn more about halving, feel free to check out our dedicated video below:

Where is XRP headed?

Ripple’s native token has been relatively stable lately, with its price hovering between $0.52 and $0.53. It currently stands at around $0.524 (according to CoinGecko data), up 2% monthly. Despite the consolidation, several industry participants expect a significant resurgence in the near future.

Users X EGRAG CRYPTO and JAVON MARKS are two examples. The former shared a price chart indicating that XRP’s recent performance is “aligning perfectly” with previous expectations and Fib levels 0.702 – 0.786. The analyst predicted that the coin’s next target would be between $1.20 and $1.50, highlighting the range of $0.70 to $0.75 as a “critical breakout point.”

“While a retest of the breakout could be on the cards, a MEGA RUN for XRP is on the horizon. Yes, double digits is my goal,” EGRAG CRYPTO added.

JAVON MARKS stated that the asset is poised for a rally because it is approaching “a major convergence point” and has “an RSI pattern that currently indicates underlying price momentum.”

The Relative Strength Index (RSI) tracks the speed and magnitude of price changes, ranging from 0 to 100. A ratio above 70 indicates that the asset may be overbought and could face- to a price correction. XRP’s RSI is currently at 40, after a notable decline over the past week.

What about DOGE?

Last but not least, we’ll touch on the biggest meme coin in terms of market cap: Dogecoin (DOGE). Many analysts recently put the asset on their watch list, envisioning new peaks under certain conditions.

X user Ali Martinez maintained that DOGE is facing “significant resistance” between $0.166 and $0.171, where 75,000 addresses have accumulated approximately 10 billion coins.

“However, once this barrier is cleared, DOGE has the potential to double, with the next key resistance around $0.322,” he stated.

Nebraskangooner also chimed in and predicted “meme bomb action coming soon” as long as DOGE remains above the critical resistance level of roughly $0.16. It is currently priced just above that mark.

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