Altcoins Price To Mimic BTC! This Is How BTC, ETH, And XRP Will Close March Trade!

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• The 90-day correlation between Bitcoin and S&P 500 hits a 17-month high. 
• Altcoins mimic market leader Bitcoin, investors pin eyes on price projections of BTC, ETH, and XRP.

The global cryptocurrency market with its sea of crypto assets have been surfing the bygone week in green. The weekend has been generous to a myriad of digital assets that have been mimicking the star crypto Bitcoin. The business has been portraying brighter candles since the announcement of FED’s rate hike.

Wherefore, the business has been projecting prices in tandem with equity markets. According to Arcane research, Bitcoin’s 90-day correlation with S&P 500 has hit its 17-month high of 0.49% on Friday.

Whilst the S&P 500 has risen 6% since FED’s rate hike, BTC has seen a spike of 8%. Conversely, investors of-late have been keen on price projections of BTC, ETH, and XRP.

This Is How BTC, ETH, And XRP Could Close This Quarter’s Trade!

Bitcoin (BTC) Price:

  The kingpin BTC’s price at the time of press is changing hands at $42,392.20, with gains of -1.18%. While the market cap of the asset is hovering around $805,093,297,062.

The volume of trades for around the clock is at $25,593,369,889. BTC price has been ranging in its 24-hour frequency from $41,877.51 to $43,071.35.

BTC price has been holding well above its imperative resistance at $42,000. Successively, if the daily candles keep floating around $42,000 to $42,500.

We can expect the BTC price going zip past its resistance at ~$43,800, prior to its target of $45,000. On the flip side, if it falls below its intraday low of $41,877.51. A push by the bears could take the price to $40,400.

Ethereum (ETH) Price:

ETH price at the time of writing is trading 1.5% lower at $2,962.16. The market cap of the altcoin is presently floating at about $355,352,406,679.

In the interim, the volume of trades for 24-hours is at $13,591,311,929. The price of the altcoin has been ranging from $2,933.31 to $3,023.05 over the day.

ETH price breaching levels well above $3,000 has brought in cheer amongst investors and traders. If the digital asset manages to reclaim the $3,000 price tag.

We can look forward to bulls pulling the altcoin to its resistance at $3,200 by the end of the month. That said, the lack of buying pressure and a reversal in trend could take the price to $2,540. 

XRP Price:

 XRP price at the time of press is changing hands at $0.8265, whilst incurring losses of 2.45%. While the market cap of the altcoin is hovering around $39,780,802,032. The trade volume over the past day is at $2,104,740,775. XRP’s price has been ranging the intraday trades from $0.8206 to $0.8539.

The price of the lawsuit stricken digital asset has run out of steam, following its 15% rally and retesting levels around $0.85. However, the levels above $0.80 remain under the control of the bulls. A spike in volumes could help XRP price retrace $0.85, before heading to $0.90 and eventually to $1. On the down side, losing grounds at $0.80 could drag the asset to $0.75.

Also Read: https://coinpedia.org/altcoin/will-altseason-kick-off-in-q2-2022/ 

Summing up, the correlation with the equity markets have been enabling traders to foresee the possibilities of future trends. Whilst welcoming investors from other side of exchange markets. That said, while BTC and ETH are under due consideration of the masses. XRP is now re-establishing its reign following Ripple’s growing stance in the lawsuit.