1. Bitcoin Price Prepares for Growth
2. Ethereum Price Reacts to Market Correction
3. XRP Price Reinstates Uptrend

Analysis of Bitcoin (BTC), Ethereum (ETH), and XRP prices shows that the cryptocurrency market is highly volatile. Leading altcoins are not spared from the decline, driven by a lack of market confidence and investor profit booking.

Bitcoin Price Prepares for Growth

Bitcoin prices continue to drop from last week's levels above $60,000. Currently, they have dropped to $58,000, resulting in active purchases from large investors looking to buy assets on the dip. According to Santiment, investors holding between 100 and 1,000 BTC now own 20.23% of the total supply, approximately 4 million BTC. Other large addresses have increased their share to 24.27% or roughly 4.8 million BTC. If such purchases continue, BTC could gain momentum to reach its all-time high (ATH). Renowned trader Bob Loukas predicts the current BTC price forecast to continue into September, but as selling pressure diminishes, there is potential to break through the $70,000 level and higher. For this to happen, BTC needs to hold at $60,000, which will calm the market and create support for further growth. Traders will focus on the 200-day and 50-day moving averages at levels $61.47 and $61,724, respectively. Breaking above $62,000 will increase the likelihood of a rise to $64,000 by September.

Ethereum Price Reacts to Market Correction

Ethereum price dropped to $2,400, confirming a bearish pattern with a target level of $2,100. However, a recovery to $2,522 suggests that many traders are continuing to buy on the dip. The Relative Strength Index (RSI) indicates a bullish trend, rising from 36 to 42. A breakthrough above $2,600 will suggest further ETH strength and potential growth to $2,800 or even $3,000 by the weekend. ETH price growth forecast may not materialize if the outflows in Ethereum ETFs continue. According to SoSoValue data, only two of the nine Ethereum ETFs showed inflows, while the total outflow reached $3.45 million on August 27. Key levels for traders remain support at $2,400 and resistance at $2,800. A breakthrough on either side will determine ETH direction.

XRP Price Reinstates Uptrend

XRP price nearly reached support at the 200-day EMA of $0.5487 but then rebounded to $0.5811. The upper limit at the 20-day EMA of $0.5833 restricts growth, but a break above $0.6 could lead to significant price increases. An inverse head and shoulders pattern formation could push XRP up by 21.6% to $0.74 in the coming weeks. RSI recovery above the trend line will also support the bullish forecast. Traders should be prepared for a potential correction to $0.4 if the SEC decides to appeal the final decision in the lawsuit against Ripple.

The cryptocurrency market continues to show high volatility. It's important to monitor key support and resistance levels for all three main assets – Bitcoin, Ethereum, and XRP – to understand further market movements.