BTC, ETH and XRP Price Analysis for March 4

The weekend has started with a bounce back on the cryptocurrency market.

BTC/USD

The rate of Bitcoin (BTC) has slightly risen by 0.17% over the last 24 hours.

On the daily chart, the price of Bitcoin (BTC) is again below the $23,000 mark, which means that bears have locally seized the initiative.

If buyers cannot restore the rate shortly, there are high chances to see a further decline to the support level at $21,473 by the end of the month.

Bitcoin is trading at $22,376 at press time.

ETH/USD

Ethereum (ETH) has followed the bounce back of Bitcoin (BTC), going up by 0.12%.

Even though Ethereum (ETH) is located in the middle of the channel, it is looking bearish as the rate is near the interim support at $1,558. If the candle closes near that mark, one can expect a decline below the $1,500 area next week.

Ethereum is trading at $1,569 at press time.

XRP/USD

XRP has gained the most value from the list today, rising by 2.15%.

Despite today’s rise, XRP has not accumulated enough power for further growth. Thus, the rate is still below the important $0.40 zone, which confirms the ongoing sellers’ pressure. In this case, the more likely scenario is sideways trading in the range of $0.37-$0.38.

XRP is trading at $0.3755 at press time.

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