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BTC, ETH and XRP Price Analysis for August 9

Tue, 08/09/2022 - 15:52
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Denys Serhiichuk
Can top coins recover after today's drop?
BTC, ETH and XRP Price Analysis for August 9
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The cryptocurrency market has faced a correction period as most of the coins are in the red.

Top coins by CoinMarketCap


Bitcoin (BTC) is falling the least from the list, going down by 4.35%.

BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) could not keep the rise after yesterday's bullish candle. From another point of view, the price has bounced off the $23,000 mark, which means that bulls keep controlling the situation on the market.

DOGE and SHIB Price Analysis for August 8

However, if sellers' pressure continues and the candle closes below $23,000, the fall may lead to the test of $22,400 soon.

Bitcoin is trading at $23,094 at press time.


Ethereum (ETH) is the biggest loser from the list today, falling by almost 6% over the last 24 hours.

ETH/USD chart by TradingView

Ethereum (ETH) has lost the vital $1,700 mark, which means that sellers are about to seize the initiative. If the situation does not change until the end of the day, there are prerequsites to see a drop to the $1,600 zone within the next few days.

Ethereum is trading at $1,692 at press time.


XRP could not withstand the overall market pressure, declining by 5.15%.

XRP/USD chart by TradingView

XRP is looking more bearish than BTC and ETH, as the price has broken the local support level at $0.36534 on the daily chart. If bears hold the initiative, one can expect a further downward move to the $0.35 mark until the end of the week.

XRP is trading at $0.36337 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at