BTC, ETH and XRP Price Analysis for February 5

The rally has continued on the cryptocurrency market as almost all top 10 coins are in the green zone. Cardano (ADA) and Binance Coin (BNB) are the only exceptions to the rule, falling by 3.37% and 2.10%, respectively.

The key statistics for Bitcoin (BTC), Ethereum (ETH) and XRP:

BTC/USD

Sellers seized the initiative yesterday and, during the day, tried to roll back the Bitcoin (BTC) price to the support of $36,000. In the second half of the day, the pair tested the level of $36,200, sales volumes decreased and the price stopped its decline.

Weak recovery of declining volumes brought the BTC price back to the $37,300 mark. If the recovery continues today, the pair may return to the resistance of $40,000 by the end of this week.

Bitcoin is trading at $38,116 at press time.

ETH/USD

Yesterday morning, buyers were unable to break above the $1,700 mark and a pullback in the Ethereum (ETH) price led to a retest of the $1,555 level. In this area, the decline has stalled and the bulls tried to return Ether to the zone of the recent high.

On the daily chart, Ethereum (ETH) is trading within the rising channel, having updated the all-time high today. Ongoing growth is the outcome of the accumulation phase between $1,100 and $1,300, which means that the current level may not be the peak. In this case, there are chances of seeing the leading altcoins at around $2,000 shortly.

Ethereum is trading at $1,744 at press time.

XRP/USD

Yesterday, the XRP price was able to overcome the resistance of $0.40 and eventually marked a local maximum at $0.482.

Over the past night, the pair retraced slightly but, in the near future, the recovery may continue to the psychological level of $0.50.

XRP is trading at $0.4465 at press time.