Ethereum, XRP, PI fall as US PPI inflation reaches 6.5%

Ethereum, XRP, and Pi Network traded under pressure on Nov. 13, with ETH below $2,000 and XRP near $1 as US producer inflation reached 6.5% annually. 6.5% annual US producer inflation accompanied a smaller-than-expected 0.3% monthly rise in October. Ethereum analysts are watching $1,900 support, with bearish targets reaching as low as $1,500. XRP faces a $0.99 support level, while PI needs to clear $0.0735 for Gopal’s recovery scenario. According to the Bureau of Labor Statistics’ October report, producer prices rose 0.3% during the month, following a revised 1.4% gain in September. The annual reading was the highest since November 2022, when wholesale inflation stood at 7.4%. The release arrived after cryptocurrencies had already fallen during Asian trading.

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