BTC, ETH and XRP Price Analysis for February 5

Neither bulls nor bears are dominating at the beginning of the week, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has increased by 0.83% over the last 24 hours.

On the daily chart, the price of BTC has approached the vital level of $43,589. If its breakout happens, the accumulated energy might be enough for a continued upward move to the $44,000-$44,500 zone. Such a scenario is relevant until the end of the week.

Bitcoin is trading at $43,403 at press time.

ETH/USD

Ethereum (ETH) has gained more than BTC, going up by 1.07%.

From the technical point of view, Ethereum (ETH) is also looking more bullish than bearish. At the moment, traders should pay attention to the bar’s closure. If it happens above $2,328, one can expect a further rise to $2,400.

Ethereum is trading at $2,330 at press time.

XRP/USD

XRP is the exception to the rule, falling by 0.82% since yesterday.

On the daily time frame, the price of XRP has once again bounced off the support level of $0.4959. If bulls can hold the rate above the vital zone of $0.50, there is a possibility to see a local rise to the $0.52-$0.53 range shortly.

XRP is trading at $0.5081 at press time.

Source