BTC, ETH and XRP Price Analysis for February 9

Price Predictions
Tue, 02/09/2021 - 14:38
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Denys Serhiichuk
Can Ethereum (ETH) and XRP surpass Bitcoin (BTC) in the short term?
BTC, ETH and XRP Price Analysis for February 9
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Contents

Bulls keep dominating the cryptocurrency market as coins from the top 10 list are in the green zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

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

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin 

BTC

$861,709,715,667 $45,395.09 $126,262,649,607 15.10%

Ethereum

ETH

$200,982,441,690 $1,719.97 $57,250,783,829 3.20%

XRP

XRP

$21,059,323,350 $0.4523 $10,598,330,104 6.38%

BTC/USD

Bitcoin (BTC) has risen by 16%, having set the peak at $48,200.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) might face a correction to the mirror level at $42,000 as there is almost no liquidity at the moment to keep the rise.

Related
BTC, BNB, ADA, XLM and AAVE Price Analysis for February 8

However, one should consider such a move as a short-term decline as part of the long-term bullish trend.

Bitcoin is trading at $45,638 at press time.

ETH/USD

Ethereum (ETH) is showing less growth than Bitcoin (BTC) as the rate of the leading altcoin has risen by only 3%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

From the technical perspective, Ethereum (ETH) needs more time to show a price blast as the coin is still in the accumulation phase. In this regard, sideways trading in the range of $1,650-$1,750 is the more likely scenario for the upcoming days.

Ethereum is trading at $1,742 at press time.

XRP/USD

XRP is the second-most growing coin today. The rate of the altcoin has gone up by 6.38% since yesterday.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP keeps trading in the bullish channel, aiming at the vital $0.50 mark. However, there are low chances for a breakout as the buying trading volume is low enough to fix above the resistance.

XRP is trading at $0.46 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.