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BTC, ETH and XRP Price Analysis for June 17

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Most of the coins keep trading in the red zone, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 3% over the last 24 hours.

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

On the daily chart, the rate of Bitcoin (BTC) has bounced off the $20,000 zone that confirms the bulls’ power. From another point of view, the price is close to the support, which means that it is too early to think about a reversal.

In this case, the more likely scenario is sideways trading in the range of $20,500-$21,500 for the next few days.

Bitcoin is trading at $21,046 at press time.

ETH/USD

Ethereum (ETH) is the biggest loser from the list today as the main altcoin has dropped by 6%.

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

Ethereum (ETH) is trading similar to BTC as the price is also located near the support level at $1,000. The volume remains low as traders are not ready to buy the coin from the current levels. If bears’ pressure continues and the rate falls below $1,000, there are chances to see the test of the next level at $832 shortly.

Ethereum is trading at $1,090 at press time.

XRP/USD

XRP is an exception to the rule today as its price has gone up by 3.44% over the last 24 hours.

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

Despite the growth, XRP is trading in the middle of the narrow channel between the support at $0.3040 and the resistance at $0.3644. If bulls can hold the rate above $0.33 by the end of the day, one can expect the test of the $0.35 zone soon.

XRP is trading at $0.33160 at press time.

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