Cryptomarket Analysis October 17

What happened in cryptocurrency market and three main currencies — bitcoin, ethereum and XRP over the past 24 hours.

Market capitalization of top-10 cryptocurrencies as of October 17

On Tuesday the situation in the cryptocurrency market developed mainly according to a neutral scenario but XRP got “the crown” and fulfilled all the goals of the bullish scenario.

Bitcoin (Bitcoin: BITCOIN) was expectedly consolidating in the center of the high-volume area. It seems that current prices suit both buyers and sellers. In general, serious movements are expected only after the news from SEC on bitcoin-ETFs in late October. Another potential incentive could be the launch of the Bakkt site in November.

Time-lapse: on October 17, 2017, bitcoin price lost $10, stopped at $5,719.

BTC chart by TradingView

Today we are waiting for fluctuations in the center of the high-volume area ($6,355 - 6,523).

Ethereum (BITFINEX: ETH/USD.BITFINEX) preferred to spend the last day in a more limited range than the neutral scenario assumed. Today the most likely scenario provides some consolidation with a possible drift towards $210.

Time-lapse: on October 17, 2017, ethereum price also decreased to $326.98.

ETH chart by TradingView

Today ethereum is going to be fluctuating within the $202 - 207 range with a possible drift to $211.

XRP (BITFINEX: XRP/USD) is showcasing strength for the second day in a row. Usually the cryptocurrency passes the range of $0,469 - 0,503 rather quickly, so a mark of $0,528 can become real today.

Time-lapse: on October 167, 2017, XRP price lost out slightly, fixing at $0.25.

XRP chart by TradingView

Today bulls will attack the mark of $0,469 and will try to move to the area of $0,469- 0,503. The global goal is the rcontrol price of $0,528.

Aside from bitcoin, ethereum, and XRP there are several other interesting digital currencies or altcoins worth taking a closer look at. The losers and winners of the past 24 hours are: Etheera with 113,31% growth and XcelToken with 27,09% decrease. Keep an eye on cryptocurrencies, study them and use our quotes page to keep up to date.

Trading in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and ihodl.com are not liable for the potential losses incurred.