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ETH and XRP Price Analysis for November 21

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Mon, 21/11/2022 - 15:16
ETH and XRP Price Analysis for November 21
Cover image via www.tradingview.com

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The situation is almost unchanged since yesterday as the majority of the coins keep trading in the red zone.

Top 10 coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has declined by 4.32% over the last day.

ETH/USD chart by TradingView

The rate of Ethereum (ETH) has continued yesterday's drop, getting closer to the support level of $1,071. If buyers lose the important $1,100 zone, the accumulated power might be enough for a fall to the $1,000 area.

The following scenario is relevant until the end of the week.

Ethereum is trading at $1,122 at press time.

XRP/USD

XRP is more of a loser than Ethereum (ETH), going down by 7%.

XRP/USD chart by TradingView

Despite today's sharp fall, XRP is trading in the middle of the wide channel, far away from the key levels. However, the selling volume is high, which means that a further drop is more likely than a bounce back. In this case, the next area at which bulls may seize the initiative is the area of $0.32.

XRP is trading at $0.3511 at press time.

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