Ethereum, Cardano & Ripple – American Wrap 15 September

XRP price crash incoming as support weakens

XRP price faces significant downside pressure on its Point and Figure Chart. Triple-bottom pattern short entry setup warns of a big drop. 
A -20% move eyed by bears. XRP price faces a substantial move to the south if support does not hold. The near-term support on the $0.02/3-box reversal Point and Figure chart is the triple-bottom at $1.04. If XRP bulls fail to hold $1.40, look out below.

Cardano price could reach $8 if this accumulation fractal plays out

Cardano price has been accumulating for over a month now, hinting that a volatile move is incoming. This accumulation phase seems similar to the one seen between November 18, 2020, and January 5, 2021. Cardano price has been teetering above a crucial support barrier for over a month and shows signs of coiling up. This congestion could resolve into a massive bullish breakout, pushing ADA to new all-time highs.

Ethereum London Hard Fork fails to deliver as mass departure of dApps continues

Ethereum Improvement Proposal-1559  (EIP-1559) was one of the much-awaited improvement proposals that went live in the London Hard Fork. Since the protocol was expected to make gas fees more predictable, proponents expected an overall positive impact on the Ethereum ecosystem and Ether prices. 

 

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