Original U.Today article

ETH and XRP Price Analysis for January 23

Mon, 01/23/2023 - 13:01

How long is rise of main coins going to last?

ETH and XRP Price Analysis for January 23

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The new week has started with the further rise of the cryptocurrency market.

Top coins by CoinMarketCap

The rate of Ethereum (ETH) is rising faster than Bitcoin (BTC), going up by 0.77%.

ETH/USD chart by TradingView

On the daily chart, the price is trading in the middle of yesterday's candle, which means that Ethereum (ETH) has not accumulated enough power for a further move. Such a statement is also confirmed by the declining volume. In this case, the more likely scenario is sideways trading in the range of $1,600-$1,650 for the next few days.

Ethereum is trading at $1,635 at press time.

XRP/USD

XRP is one of the biggest gainers today, rising by 4%.

XRP/USD chart by TradingView

XRP seems unable to stop its rise as the price has broken the resistance level at $0.41832. If buyers can hold the gained initiative until the end of the day, the accumulated energy might be enough for a continued upward move to the $0.46 zone. Such a scenario is relevant until the end of the current week.

XRP is trading at $0.4229 at press time.

#XRP Price Analysis #Ethereum Price Prediction

About the author

Denys Serhiichuk

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 denys.serhiichuk@u.today.