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BTC, ETH and XRP Price Prediction for May 6

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Mon, 6/05/2024 - 14:15
BTC, ETH and XRP Price Prediction for May 6
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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The prices of most of the coins are rising, however, there are some exceptions to the rule, according to CoinMarketCap.

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Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has fallen by 0.34% over the last 24 hours.

Image by TradingView

Today's drop has not much affected the overall technical position of BTC on the daily chart. Such a statement is also confirmed by a falling volume. In this case, ongoing sideways trading in the narrow range of $63,000-$65,000 is the more likely scenario for the next few days.

Bitcoin is trading at $63,857 at press time.

ETH/USD

Ethereum (ETH) has followed the decline of BTC, going down by 0.90%.

Image by TradingView

On the daily time frame, the price of Ethereum (ETH) is trading similarly to BTC. At the moment, one should focus on the bar's closure in terms of the zone of $3,100. If it breaks out, the correction may lead to the test of $3,000.

Ethereum is trading at $3,115 at press time.

XRP/USD

Unlike other coins, the rate of XRP has gone up by 0.50%.

Image by TradingView

Despite today's slight rise, the price of XRP has not accumulated enough energy to grow. The rate has once again failed to fix above the interim zone of $0.54.

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If buyers cannot seize the initiative shortly, there is a chance to see a further decline to $0.52.

XRP is trading at $0.5318 at press time.

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