BTC, ETH and XRP Price Analysis for April 7

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Denys Serhiichuk

How good are Ethereum (ETH) and XRP’s chances to keep rising faster than Bitcoin (BTC)?

The market has faced a correction as the majority of coins are located in the red zone. Uniswap (UNI) is the top loser, falling by 10% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The crucial data for Bitcoin (BTC), Ethereum (ETH) and XRP today:








Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,061,266,826,262$56,822.38$73,473,415,308-3%

Ethereum

ETH

$231,377,451,673$2,004.86$31,047,262,107-5.32%

XRP

XRP

$43,183,068,468$0.963$28,632,835,572-4.20%

BTC/USD

The rate of Bitcoin (BTC) has declined much less than other coins. The decline is 3%.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the 4H time frame, Bitcoin (BTC) has the chance to restest the level of $57,800 where most of the liquidity is focused.

However, such local growth should be considered a correction after a sharp decline but not the start of a possible long-term rise.

Bitcoin is trading at $56,700 at press time.

ETH/USD

Ethereum (ETH) is the top loser today as the rate of the chief altcoin has gone down by 5% over the last 24 hours.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

From the technical point of view, Ethereum (ETH) is following the price action of Bitcoin (BTC), and one can also expect a bounceback to the local resistance level around $2,060. If bulls manage to fix there, the next target is the area of $2,110 where most of the liquidity is concentrated.

Ethereum is trading at $2,006 at press time.

XRP/USD

The price of XRP has not lost much compared to Ethereum (ETH). The drop is by 4.20%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

XRP also looks bullish in the short-term view. Even though it is too early to think about new peaks, bulls have the chance to retest the level of $1.029 within the next few days.

XRP is trading at $0.9542 at press time.

Source: https://u.today/btc-eth-and-xrp-price-analysis-for-april-7