BTC, ETH, and XRP Price Analysis for December 11

11 December 2023

in XRP

Reading Time: 2 mins read

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The new week has started with a dump on the cryptocurrency market.

Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 4.36% over the last 24 hours.

Image by TradingView

On the daily chart, the price of BTC has once again failed to fix above the $44,000 zone. At the moment, sellers have locally seized the initiative. If bulls lose the area of $40,000, there is a high chance to see a test of the support level of $38,437 soon.

Bitcoin is trading at $41,840 at press time.

ETH/USD

Ethereum (ETH) has followed the drop of Bitcoin (BTC), going down by 5.12%.

Image by TradingView

The rate of ETH has almost tested the support of $2,131. Until the price is above that mark, bulls have the chance for a bounce back. However, if buyers lose it, the correction may continue to the important zone of $2,000 shortly.

Ethereum is trading at $2,224 at press time.

XRP/USD

XRP is not an exception to the rule, falling by 5.89% since yesterday.

Image by TradingView

From a technical point of view, XRP is looking more bearish than BTC and ETH. If the decrease continues to the support of $0.5860, the accumulated energy might be enough for a dump to the $0.56-$0.58 area.

XRP is trading at $0.6168 at press time.

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.