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Top 3 Price Predictions: Bitcoin, Ethereum, XRP Forecasts for September

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As the end of August approaches, leading cryptocurrencies look set to close the month at a lower price than when they entered it. At the time of writing, Bitcoin was down around 6.1% in the previous 30 days. Meanwhile, Ethereum was down roughly 8.3% and XRP had lost nearly 25% of its value. 

All three suffered from a significant price crash on August 17. Despite a strong rally that was felt across crypto markets on Tuesday (Aug. 29), it was short lived and none of them fully recovered from their mid-month losses.

Let’s take a look at the top cryptocurrencies’ prospects going into September.

Can Bitcoin Reclaim $30,000 by the End of September?

Historically, September has not been a good month for Bitcoin. Out of 13 of them, only four have seen the cryptocurrency appreciate in value. And every year from 2017 onward, BTC has closed the month at a lower price than when it started. Will 2023 buck the trend of recent years?

For Bitcoin traders, $30,000 represents a critical symbolic milestone, yet the cryptocurrency has only briefly traded above the $30,000 mark a few times this whole year, and it remains a difficult ceiling to break through.

In a recent analysis of Bitcoin’s 20-day moving averages, the crypto analyst Eric Krown errs on the side of a more bearish forecast. But, in general, he anticipates another sideways month for Bitcoin, which he expects to trade within the $26,000 to $28,000 range for most of September.

However, Krown made his initial prediction for the month before Tuesday’s rally. In a later video on Wednesday, he discussed the potential for a bearish breakout if it shows sustained momentum in the coming days.

According to Krown, should BTC manage to stay above $27,200, it could go on to climb as high as $31,000 or $32,000 in the coming weeks.

ETH On Track to Outperform BTC 

Just as BTC has barely broken above $30,000 all year, ETH has had similar trouble holding ground above $2,000.

Yet if the cryptocurrency manages to break through that barrier in September, it may be on track for a major rally. Moreover, so far in the second half of 2023, ETH has outperformed BTC. And as the analyst Ibrahim Ajibade recently argued, if it breaks above $2,000, this trend is likely to continue.

One important fact that Ethereum price analysts often consider when making forecasts is the level of Bitcoin Dominance, i.e., the value of Bitcoin as a proportion of the total crypto market capitalization.

After peaking at 52% at the end of June, Bitcoin dominance has steadily fallen for the last two months and currently stands at just below 50%.

Commenting on this trend in a recent video, the analyst and trader known as CryptoWorld Josh noted that the Bitcoin dominance rate is showing signs that it could break down and fall even further. If this happens, he said that ETH could significantly outperform BTC.

“If we do end up seeing a confirmed break below around 47.5%, […] that is where we could see a possible altcoin season and much bigger gains in the altcoin market compared to Bitcoin.” 

However, he noted that this could still take some time: “It’s likely that that will not happen for at least the next month,” he remarked.

XRP Price Tied to 200-Day EMA

As with other leading cryptos, XRP has closely tracked its moving averages in recent months.

Exponential moving averages (EMAs) are a set of widely observed technical indicators in the world of cryptocurrency trading. They represent the average closing price of an asset over a given time period, adjusted for its volatility.

At present, XRP’s 200-day EMA suggests a slight increase from its current price of $0.528

to around $0.6 by the end of September. 

However, should it break with this long-term pattern, it could drop to a range of between $0.5040 and $0.4600, the crypto analyst Lockridge Okoth noted recently. He added that any movement below $0.4800 would increase the odds for a continued downtrend, potentially sending the price of XRP down as much as 10%.

Conversely, Okoth observed that bullish momentum may see the price of XRP surge as high as $0.8 per token, a high point the cryptocurrency hasn’t seen since July.

Other Cryptos to Watch in September

Alongside the more established coins, it’s always worth keeping a tab on new cryptocurrencies, which can often see quicker gains than bigger coins.

With that in mind, here are two new tokens to watch in September.

Wall Street Memes Set for Tier-1 Exchange Debut at the End of the Month After $25m Raise

One cryptocurrency lots of traders have been talking about in recent months is Wall Street Memes (WSM), which has seen over $25 million invested into its presale.

Inspired by the Wall Street Memes subreddit, WSM has managed to amass the largest presale event of the summer thanks to an active community of supporters and viral social media strategy.

With an online following that numbers over a million, WSM brings together all the things that have propelled more established memes coins like DOGE to their current heights: strong community engagement, eye-catching design, and a total disregard for Wall Street and its traditional financial markets.

While analysts are divided on what will happen to the price of BTC, ETH or XRP in the next month, one thing is for certain: At the end of September, WSM will be listed on exchanges, where many commentators believe it will rise well above its low presale price of just $0.0337.

In fact, the development team behind WSM is aiming for a $1 billion market capitalization once the token hits the open market. This would represent a 15x return on investment for early investors.

Visit Wall Street Memes Presale

Sonik Coin Also Turning Heads as Stake-to-Earn Meme Coin Raises Nearly $900K

Sonik Coin (SONIK) is another new meme coin that has exploded onto the scene faster than anyone could have anticipated.

Seemingly out of nowhere, SONIK has now raised nearly $900,000 in its presale. That means the project is almost halfway toward its presale goal of just over $2 million.

SONIK’s fundraising efforts were lighting fast from the beginning. But fueled by a red hot crypto market and surge of bullish sentiment, the new token has accelerated its path toward $2 million in recent days. 

At its current pace, SONIK is on track to hit its target within the next five days. However, until then, early investors still have a chance to purchase tokens for just $0.000014 each.

Once the presale is finalized, the team behind Sonik Coin are targeting a market capitalization of $100,000. And given the pace with which the initial coin offering (ICO) has unfurled so far, their ambition to be the fastest zero-to-one-hundred-million market cap meme coin may just be realized.

For reference, a $100 million market cap would see presale participants multiply their investment nearly fifty times over!

But, given SONIK’s built-in staking mechanism, they might not be in a rush to sell their tokens. Of the total supply, 40% of all Sonik Coins are reserved as rewards to people who opt to hold and stake instead.

Visit Sonik Coin Presale

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