News

February 12, 2024

Cryptocurrency Market Decline: Bitcoin, Ethereum, and XRP Prices Fall

Thando Dlamini
Written byThando DlaminiWriter
Researched byNikos PapadopoulosResearcher

According to CoinMarketCap, the cryptocurrency market experienced a decline in prices. Bitcoin (BTC) decreased by 1% over the last 24 hours, Ethereum (ETH) fell by 1.72%, and XRP declined by 2.88%.

Cryptocurrency Market Decline: Bitcoin, Ethereum, and XRP Prices Fall

Bitcoin (BTC)

On the daily chart, the price of Bitcoin has approached the resistance level of $49,027. Traders should be cautious as the price remains below this mark, indicating a potential correction. Additionally, Bitcoin has made a false breakout of yesterday's peak, which is a bearish signal. It is likely that the price will drop to the $47,000 zone soon. At press time, Bitcoin is trading at $47,883.

Ethereum (ETH)

Ethereum has experienced a greater decline compared to Bitcoin, falling by 1.72%. The price of ETH has been decreasing after a false breakout of the $2,524 level. If today's candle closes around the current levels, traders may witness a test of the $2,400-$2,450 zone this week. Currently, Ethereum is trading at $2,485.

XRP

XRP has been the biggest loser in the market today, declining by 2.88%. The rate of XRP is weak after failing to fix above the $0.54 zone. Traders should anticipate a further correction to the vital area of $0.50. At press time, XRP is trading at $0.5183.

In conclusion, the cryptocurrency market has experienced a decline in prices, with Bitcoin, Ethereum, and XRP all falling. Traders should be cautious and consider the potential for further corrections. It is important to conduct thorough research and consult with financial experts before making any investment decisions.

About the author
Thando Dlamini
Thando Dlamini
About

Thando Dlamini, a vivacious 22-year-old from South Africa, seamlessly blends her love for the vibrant world of online casinos with her meticulous localization skills, making the digital gaming experience truly South African.

Send mail
More posts by Thando Dlamini

Latest news

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate
2024-02-16

Shibarium: Thriving Community, Impressive Growth, and Increased SHIB Burn Rate

News