The new week has begun with the continued correction of the cryptocurrency market.
ETH/USD
Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 2.82%.
On the daily chart, Ethereum (ETH) has entered the bearish zone, breaking the support of $1,501. If the situation does not change by the end of the day, the drop may continue to the next level at around $1,400. Such a scenario is relevant until the end of the current week.
Ethereum is trading at $1,479 at press time.
XRP/USD
XRP is no exception to the rule, falling by 3.67% over the last 24 hours.
XRP is trading near the support level at $0.3685 on the daily time frame. At the moment, one should pay close attention to the closure. If it happens above that mark, there is a chance to see a bounce back to the $0.38 zone. In another case, the breakout of the support may lead to a sharp drop to $0.35 shortly.
XRP is trading at $0.3691 at press time.
Alex Dovbnya
Arman Shirinyan