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BTC, ETH and XRP Price Analysis for May 6

Sat, 05/06/2023 - 12:40
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Denys Serhiichuk
Are there any coins that are ready to rise soon?
BTC, ETH and XRP Price Analysis for May 6
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The market is trading sideways at the beginning of the weekend, according to CoinMarketCap's ranking.

Top coins by CoinMarketCap

Top coins by CoinMarketCap


The rate of Bitcoin (BTC) has increased by 0.54% over the last 24 hours.

BTC/USD chart by TradingView

Image by TradingView

Despite the slight rise today, buyers have not seized the initiative yet as Bitcoin (BTC) is still trading below the vital zone of $30,000. While the price fails to fix above that mark, consolidation in the range of $28,500-$29,500 is the more likely scenario.

Bitcoin is trading at $29,264 at press time.


Ethereum (ETH) has gained the most value today, rising by 1.35%.

ETH/USD chart by TradingView

Image by TradingView

On the daily time frame, the price of Ethereum (ETH) has made a false breakout of yesterday's peak at $2,005. At the moment, traders should pay attention to another level at $1,900. If closure happens near it or below, the ongoing drop may continue to the $1,800 zone.

Ethereum is trading at $1,933 at press time.


XRP has gained the least today, as its price has only risen by 0.30%.

XRP/USD chart by TradingView

Image by TradingView

Today's slight rise of XRP has not affected its technical position on the daily chart. The price keeps trading sideways between the support at $0.44 and the resistance at $0.4854. As neither side has seized the initiative yet, ongoing consolidation in the range of $0.45-$0.47 remains the more likely scenario for the upcoming week.

XRP is trading at $0.4617 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