• The article explores the top 10 cryptocurrencies that may have the potential to ignite the global crypto market in August 2023.
• Bitcoin (BTC), Ethereum (ETH) and XRP (XRP) are some of the leading digital assets with excellent growth prospects.
• Bitcoin, Ethereum and XRP’s daily price charts indicate that they might break through their resistance levels soon.
In the fast-paced and ever-evolving world of finance, cryptocurrencies have emerged as a revolutionary force, captivating the imagination of investors and tech enthusiasts alike. Among the multitude of digital assets, several cryptocurrencies have been making waves in the market, especially during challenging moments. Let’s dive into the captivating world of cryptocurrency to explore the top 10 cryptocurrencies that have the potential to ignite the global crypto market in August 2023 and unravel the trends propelling their growth.
Bitcoin (BTC), was created in 2009 by Satoshi Nakamoto. However, Bitcoin’s price has skyrocketed as it’s become a household name. In Jan 2017, one Bitcoin was about $1014 and as of July 29th 2023 it is around $29278 which shows a growth of more than 3000%. At the time of writing, Bitcoin traded at $29274 with a market cap of $569 billion which is 48.2% of total share in market. The BTC daily price chart indicates that it crossed below its short-term 50 day exponential moving average(50 EMA) signalling an attempt for bearish movement but if it crosses its resitance level which stands at $29947 then it can reach to its next level i.e.,$30374 soon.
Ethereum (ETH), is a smart network and currently second largest cryptocurrency after bitcoin . In February 2017 one ETH was priced at $10 but now one ETH valued at $1871 showing splendid growth over years . At present moment , Ethereum traded at 1871 USD with 50 day EMA standing at 1873 USD and RSI near to neutral zone(at 48). If Ethereum crosses its resistance level which stands at 1917 USD then it can reach up to 2018 USD soon .
Ripple’s partial victory against Securities Exchange Commission has shown significant growth for XRP recently . Currently , XRP is trading at 07087USD with 50 day EMA standing near 07090USD signalling an attempt for correlation . Also RSI shows that XRP nears to neutral zone(at 40). If XPR crosses its resistance level which stands at 7140USD then there are chances for reaching up to 7190USD soon .
The article lists down three major digital assets namely , bitcoin , ethereum & ripple which are expected to break through their respective resistance levels soon giving good returns on investment . All these cryptos are having strong fundamentals & technical indicators indicating good opportunity for investment in coming months ahead .