Crypto price prediction XRP, Hedera Hashgraph, Stacks.
Cryptocurrencies experienced a sharp decline following the recent decision by the Federal Reserve.
Bitcoin fell below the important support levels of $25,300 and $25,000.
XRP formed a double-top pattern on the daily chart.
This week, the prices of cryptocurrencies dropped significantly due to concerns about monetary policy and regulations. Bitcoin fell below the crucial $25,000 support level, and most altcoins lost their gains from 2023. The sell-off accelerated after the Federal Reserve indicated that there would be two more rate hikes later this year. This article will explain what to expect from XRP, Hedera Hashgraph, and Stacks.
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XRP price prediction
XRP’s price declined this week after reaching a high of $0.5624. This level was crucial as it was also the year-to-date high. This indicates that the coin has formed a double-top pattern, which is usually a bearish signal. The neckline of this pattern is at $0.4075, the lowest level reached on May 11.
At the same time, Ripple’s price managed to cross the 25-day and 50-day exponential moving averages, indicating that bears are gaining momentum. The Relative Strength Index (RSI) crossed the key level of 50, while one line of the Stochastic Oscillator indicator fell below the oversold level. XRP’s price also formed a small shooting star pattern.
Therefore, the outlook for Ripple is bearish, with the next level to watch being the neckline of the double-bottom pattern at $0.4075.
How to buy XRP
inv-news-table coins=“XRP” limit=“2″]
Hedera Hashgraph price prediction
Hedera Hashgraph is a major blockchain project that seeks to become a faster and more cost-effective alternative to Ethereum. It is faster, cheaper, and governed by leading companies like Google, IBM, and LG. Like other cryptocurrencies, the HBAR price has been in a strong downward trend in the past few months. It has erased about 40% from its highest level this year.
HBAR price has dropped below the important support level at $0.0542, the lowest level on March 10th. The token has moved below the 25-period and 50-period moving averages. At the same time, the Relative Strength Index (RSI) has continued falling. Therefore, there is a likelihood that the coin will continue falling as sellers target the next key support level at $0.035, which is about 18.5% below the current level.
How to buy Hedera Hashgraph
inv-news-table coins=“HBAR” limit=“2″]
Stacks price prediction
Despite the increasing interest in Bitcoin development, Stacks’ price has been in a strong bearish trend. STX managed to move below the lower side of the descending channel shown in orange. At the same time, the coin has dropped below the 25-day and 50-day EMA. On the daily chart, it has moved below the 61.8% Fibonacci Retracement level.
Stacks has also moved below the psychological level of $0.50. Therefore, there is a likelihood that the coin will continue falling as sellers target the next level at $0.35.
How to buy Stacks
inv-news-table coins=“STX” limit=“2″]
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