June 14, 2021

Newspay

Bitcoin & Ethereum Blockchain News

BTC, ETH and XRP Price Analysis for May 31

The last day of May seems to be bullish for traders as all of the top 10 coins are in the green zone.

Source: u.today

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has gained the least today from our list as the rate of the main cryptocurrency has risen by 4.59% over the last day.

BTC/USD chart by TradingView

Bitcoin (BTC) has once again successfully bounced off the $34,000 mark, confirming bullish influence. However, the buying trading volume is at its lowest level, which means that bulls are not ready yet for sharp growth.

In this case, the sideways range between $37,000 and $38,000 is the more likely scenario for the next several days.

Bitcoin is trading at $37,045 at press time.

ETH/USD

Ethereum (ETH) has shown greater growth than Bitcoin (BTC) with a price change of +10.36%.

ETH/USD chart by TradingView

The ongoing rise of Ethereum (ETH) is not accompanied by a growing trading volume, which means that bears may seize the initiative soon. If bulls can fix above the vital mark of $2,700, the level of $3,000 may be attained by the end of the week.

Ethereum is trading at $2,612 at press time.

XRP/USD

XRP is the biggest gainer today, rocketing by 15% since yesterday.

XRP/USD chart by TradingView

XRP is an exception to the rule to a certain extent as the rise may continue, supported by increasing trading volume. If buyers can hold the vital mark of $1, the next level at $1.09 can be achieved very soon.

XRP is trading at $1 at press time.