Bitcoin, Ethereum and XRP: analysis of July heading into August

Bitcoin hit $12,000 before a flash crash, Ethereum rose to $420 and Ripple rallied to $0.32

Bitcoin hits $12,108

At the beginning of July, Bitcoin was stuck in a rut; unable to crack resistance at $9,400. However, the top cryptocurrency rose sharply towards the end of the month, spiking more than 17% in a week to break above $11,000.

The price then rose to $12,108, with bulls losing their grip shy of a push to historical quarterly high of $13,600, last reached at the same time in 2017. The bears pushed BTC/USD 13% lower on Sunday, down from highs of $12,108 to lows of $10,600.

Overall, Bitcoin rallied 24% in July and closed the month 57% up year-to-date.

Coinbase 5
Bitcoin, Ethereum and XRP: analysis of July heading into August 1
Up to 95% of Bitcoin wallets were also in profit when BTC breached $12,000. Source: Glassnode.

Ethereum price spiked 50% to hit $420

Ethereum was also a big story this past week. On its fifth anniversary, Ether jumped from lows of $280 to reach a two-year high around $420.

Bitcoin, Ethereum and XRP: analysis of July heading into August 2
ETH/USD price on TradingView

The move marked an upward spike of 50% in a week. The second-largest cryptocurrency could also see more upsides given the frenzy around decentralized finance, although a pullback could materialise before another surge to new highs.

According to Unfolded, 22.2% of miner revenue came from transaction fees in July. Up to 72% of Ethereum wallets were in profit on Friday; which has now increased to 76% as current prices have hit around $385.

XRP price nearly 40% up

Ripple’s XRP reclaimed its status as the third-largest cryptocurrency by market cap via a spectacular run over the past seven days. XRP market cap now stands at $13.4 billion. XRP/USD value has gone up by 40.8% over the past seven days, jumping from a low of $0.21 to $0.32.

At the same time, wallets holding more than one million XRP rose to 846 (up by 3.7%) on Saturday. While Ripple’s price shows no signs of slowing down with a 3.3% upside on the day, seven whales have since sold off their positions.

Bitcoin, Ethereum and XRP: analysis of July heading into August 3
Chart showing XRP whale (holders of 1 million+ coins). Source: Santiment.

XRP consolidating above its previous resistance area around $0.28, so finding support above $0.30 in the short term will lay the foundation for a test of $0.35, its year-to-date high.

Bitcoin, Ethereum and XRP: analysis of July heading into August 4
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bitcoin
Bitcoin (BTC) $ 41,603.00
ethereum
Ethereum (ETH) $ 2,463.23
tether
Tether (USDT) $ 0.998285
binance-coin
Binance Coin (BNB) $ 333.12
cardano
Cardano (ADA) $ 1.31
xrp
XRP (XRP) $ 0.752829
dogecoin
Dogecoin (DOGE) $ 0.210436
usd-coin
USD Coin (USDC) $ 0.999681
polkadot
Polkadot (DOT) $ 16.41
binance-usd
Binance USD (BUSD) $ 0.999884
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 41,603.00
ethereumEthereum (ETH)
$ 2,463.23
tetherTether (USDT)
$ 0.998285
bitcoin-cashBitcoin Cash (BCH)
$ 544.95
litecoinLitecoin (LTC)
$ 143.76
bitcoinBitcoin (BTC)
35.041,17
ethereumEthereum (ETH)
2.074,72
tetherTether (USDT)
0,840830
bitcoin-cashBitcoin Cash (BCH)
459,00
litecoinLitecoin (LTC)
121,09
bitcoinBitcoin (BTC)
29,800.02
ethereumEthereum (ETH)
1,764.40
tetherTether (USDT)
0.715067
bitcoin-cashBitcoin Cash (BCH)
390.34
litecoinLitecoin (LTC)
102.97

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin41,575 0.44 % 7.29 % 24.27 %
Ethereum2,456.9 0.35 % 4.99 % 16.05 %
Tether1.000 0.21 % 0.05 % 0.20 %
Binance Coin332.16 0.23 % 7.32 % 11.60 %
Cardano1.310 0.78 % 3.82 % 8.75 %
XRP0.7517 0.17 % 4.07 % 23.34 %
Dogecoin0.2095 0.70 % 4.34 % 8.18 %
USD Coin0.9992 0.13 % 0.05 % 0.16 %
Polkadot16.31 0.80 % 11.31 % 22.15 %
Binance USD0.9984 0.18 % 0.05 % 0.56 %

bitcoin
Bitcoin (BTC) $ 41,363.00
ethereum
Ethereum (ETH) $ 2,456.12
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 331.94
cardano
Cardano (ADA) $ 1.30
xrp
XRP (XRP) $ 0.745529
dogecoin
Dogecoin (DOGE) $ 0.211547
usd-coin
USD Coin (USDC) $ 0.999437
polkadot
Polkadot (DOT) $ 16.44
binance-usd
Binance USD (BUSD) $ 1.00