Bitcoin turned ten on Oct. 31, but there were no fireworks to mark the celebrations: the cryptocurrencies continue to trade in a tight range.
Until Thursday, the price of the digital currency was languishing similar to the other cryptocurrencies.
On Friday, prices soared following an announcement by crypto exchange Binance that it would support the impending hard fork on Nov. 15.
Though the bulls have held onto the $408.32 mark for the past seven weeks, they haven't been able to push prices higher.
Traders can wait for prices to sustain above $0.30 before buying.
The digital currency is likely to pick up momentum above $2.On the downside, if the bears sink prices below $0.50712042, a fall to $0.40 and $0.30 is possible.
If the price breaks out of the tight range, it can move up to $6.8299.
3.8723 is the critical support, below which the price might plummet to $2.40 and $1.70.XRP/USDRipple has been making progress in signing various institutions to its platforms, mainly targeting cross-border payments.
If the bears sink the price below $0.37185, the virtual currency will complete a 100 percent retracement and drop to the critical support at $0.24508.
Disclaimer: ARK is a featured cryptocurrency from one of Cointelegraph's sponsors, and its inclusion did not affect this price analysis.
Top Crypto Performers Overview: Bitcoin Cash, Stellar, Monero, EOS, Ripple, ARK
Published on Nov 3, 2018
by Cointele | Published on Coinage
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