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ETH and XRP Price Analysis for February 13

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Mon, 13/02/2023 - 15:16
ETH and XRP Price Analysis for February 13
Cover image via www.tradingview.com

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The new week has begun with the continued correction of the cryptocurrency market.

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Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is more of a loser than Bitcoin (BTC), going down by 2.82%.

ETH/USD chart by TradingView

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/USD chart by TradingView

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.

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