MarketPrice Analysis

Ripple, ChainLink, Polkadot, and Bitcoin Cash Price Analysis (Sept 3)

1. Ripple (XRP)

The cryptocurrency has been increasing in popularity in Latin America due to its offering of new payment options. It also has recently unlocked 1 billion XRP worth $280.65 million from an escrow account. This event provides more liquidity in the Ripple network.

Would all these events affect the price of this cryptocurrency today? Let us see the charts.

XRP-BTC-daily-price-chart

XRP/BTC daily price (Source: TradingView)

The XRP market upon entering the month of September was seen to have a bullish performance. On September 1, XRP opened its doors with a price of 0.00002413 that went as high as 0.00002489 before the end of the day. This candle was seen to continue its bullish journey until the following day.

However, on September 3, the crypto’s candlestick opened below the Arnaud Legoux Moving Averages (ALMA) indicator, which is a bearish sign. XRP must try to climb its way up this indicator in order to regain its composure and head back towards the place where the bulls are.

2. Chainlink (LINK)

The explosive growth of decentralized finance (DeFi) has spurred the demand for Chainlink’s oracles. This is also one of the reasons why the crypto remains to be one of the popular digital assets in the crypto space. Despite being famous in the DeFi space, the crypto still faces many challenges in the crypto trading world but its supporters remain to be loyal.

Are you wondering what the price of LINK is? Let’s check it out.

Link-BTC-daily-price-chart

LINK/BTC daily price (Source: TradingView)

Few days before the month of August ends, it is seen that the price of the LINK continues to rise and break its Fibonacci retracement level of 0.236.

However, upon entering the month of September, LINK’s price opened up below the ALMA indicator and continued to dive deeper. If its performance stays below the ALMA indicator and goes as deep as its support level (0.0011), the crypto might experience a hard time recovering.

3. Polkadot (DOT)

In the past few weeks, the DeFi space was making so much noise that it could be heard all over the crypto world. Polkadot is one of the DeFi platforms that has been used by startups in creating their technology.  However, this fame does not extend the performance of Polkadot in the last few days.

DOT-BTC-daily-price-chart

DOT/BTC daily price (Source: TradingView)

Polkadot continues to stay its position among the bears since its downfall last August 21. Moreover, the moving average convergence/divergence (MACD) line is still far in reaching the signal line for a possible bullish crossover.

This asset’s price remains to be oversold, which can be a good signal for those who are showing interest to invest in this crypto.

4.Bitcoin Cash (BCH)

In recent weeks, there has been an escalating tension in the crypto platform. The Bitcoin ABC development team is said to be forking away from Bitcoin Cash.

So how do these factors affect the price of BCH today? Let us find out.

BBCH-BTC-daily-price-chart

BCH/BTC daily price (Source: TradingView)

BCH started the first day of September with a good candlestick that appears to be on top of the ALMA indicator. This great performance was also seen the following day as BCH’s price continues to hold its ground within ALMA.

On September 3, the crypto price suddenly opened up below ALMA, dropping its price to 0.022. BCH must bounce back in order to join the bulls in its journey toward the moon, otherwise, the crypto will join the bears in breaking support levels.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

CoinQuora Staff

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry

Related Articles

Back to top button