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BTC, ETH, and XRP Price Analysis for December 11

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Mon, 11/12/2023 - 15:35
BTC, ETH, and XRP Price Analysis for December 11
Cover image via www.tradingview.com

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The new week has started with a dump on the cryptocurrency market.

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BTC/USD

The rate of Bitcoin (BTC) has declined by 4.36% over the last 24 hours.

Image by TradingView

On the daily chart, the price of BTC has once again failed to fix above the $44,000 zone. At the moment, sellers have locally seized the initiative. If bulls lose the area of $40,000, there is a high chance to see a test of the support level of $38,437 soon.

Bitcoin is trading at $41,840 at press time.

ETH/USD

Ethereum (ETH) has followed the drop of Bitcoin (BTC), going down by 5.12%.

Image by TradingView

The rate of ETH has almost tested the support of $2,131. Until the price is above that mark, bulls have the chance for a bounce back. However, if buyers lose it, the correction may continue to the important zone of $2,000 shortly.

Ethereum is trading at $2,224 at press time.

XRP/USD

XRP is not an exception to the rule, falling by 5.89% since yesterday.

Image by TradingView

From a technical point of view, XRP is looking more bearish than BTC and ETH. If the decrease continues to the support of $0.5860, the accumulated energy might be enough for a dump to the $0.56-$0.58 area.

XRP is trading at $0.6168 at press time.

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