BTC, ETH and XRP Price Prediction for May 6

The prices of most of the coins are rising, however, there are some exceptions to the rule, according to CoinMarketCap.

BTC/USD

The rate of Bitcoin (BTC) has fallen by 0.34% over the last 24 hours.

Today’s drop has not much affected the overall technical position of BTC on the daily chart. Such a statement is also confirmed by a falling volume. In this case, ongoing sideways trading in the narrow range of $63,000-$65,000 is the more likely scenario for the next few days.

Bitcoin is trading at $63,857 at press time.

ETH/USD

Ethereum (ETH) has followed the decline of BTC, going down by 0.90%.

On the daily time frame, the price of Ethereum (ETH) is trading similarly to BTC. At the moment, one should focus on the bar’s closure in terms of the zone of $3,100. If it breaks out, the correction may lead to the test of $3,000.

Ethereum is trading at $3,115 at press time.

XRP/USD

Unlike other coins, the rate of XRP has gone up by 0.50%.

Despite today’s slight rise, the price of XRP has not accumulated enough energy to grow. The rate has once again failed to fix above the interim zone of $0.54.

If buyers cannot seize the initiative shortly, there is a chance to see a further decline to $0.52.

XRP is trading at $0.5318 at press time.

Source