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Ethereum changed hands below $2,000 and XRP traded close to $1 on Friday, November 13, as US producer inflation reached 6.5% on an annual basis, crypto.news reported. Pi Network was consolidating near $0.0696, a level flagged by analyst Crypto With Gopal.
The selling had already begun before the data arrived: crypto.news noted that digital assets fell during Asian trading and that Bitcoin had dropped under $70,000 earlier the same day. The October figures from the Bureau of Labor Statistics then confirmed softer headline numbers than forecasters expected but an annual rate still near multi-year highs.
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Key facts
- US producer prices rose 0.3% in October and 6.5% over the year, the highest annual reading since November 2022, when it stood at 7.4%, according to the Bureau of Labor Statistics.
- Economists had projected 0.4% monthly growth and 6.6% annual inflation; core PPI excluding food and energy rose 0.3% monthly, matching the FactSet consensus cited by Barron’s.
- Ethereum analysts Ella and Alex Marzell set $1,900 and $1,500 respectively as downside levels, after ETH traded around $1,940 on Nov. 13.
- Ali Charts put XRP’s lower channel boundary at $0.99, with $0.80 as the next level if that support gives way, after a rejection at $1.55.
- BlackRock’s IBIT accounted for $269.7 million of the $299.8 million in US spot Bitcoin ETF outflows recorded on Nov. 11, per Farside data.
Inflation print lands after the crypto selling
The BLS monthly report showed a 0.3% monthly rise in producer prices, following a revised 1.4% gain in September. Goods prices increased 0.5% and services 0.2%, while a separate measure excluding food, energy and trade services climbed 0.5% in the month and 4.9% annually.
Because the release came after the first wave of crypto losses, it did not trigger the initial drawdown. Earlier reporting by crypto.news put Bitcoin below $70,000 with roughly $1.23 billion in liquidations tracked by CoinGlass, of which Bitcoin accounted for $677.5 million, including $653.5 million in long positions. The same coverage cited a dollar index above 103 and selling in technology shares after Nvidia CEO Jensen Huang’s resignation, alongside $299.8 million in withdrawals from US spot Bitcoin ETFs on Nov. 11, with five straight sessions of outflows totalling about $1.44 billion.
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Ethereum, XRP and Pi levels
Ethan’s chart work, published on X, pointed to $1,900–$1,940 as a zone where buyers could attempt a recovery, while noting that the four-hour chart kept making lower highs. In her post she placed ETH near $1,940 and said a move above $2,040 would improve the picture; a decisive break of $1,900 would bring $1,840 into focus. Marzell, writing the same day, identified a breakdown from another rising channel and put $1,500 on his radar if selling persists. Earlier liquidation data put Ethereum forced closures at $249.8 million, including $225.9 million in longs, while Farside showed $144.8 million leaving US spot ETH ETFs on Nov. 11, with BlackRock’s ETHA responsible for $129.8 million. Lookonchain separately identified a Foundation-linked wallet selling 2,000 ETH worth about $3.87 million, exchanged for USDS through CoWSwap.
On XRP, Ali Charts said the token had reversed all of its gains after failing to break $1.55, returning to the lower boundary of its channel at $0.99. He set $0.80 as the next level down should that support break. For Pi Network, Crypto With Gopal described a falling wedge in which sellers were losing momentum and buyers defended the lower trendline near $0.0696; a break above $0.0735 would open the door toward $0.085 in his reading.
Why it matters
Hot annual producer inflation argues against rapid easing from the Federal Reserve, which tends to weigh on assets that depend on looser liquidity, and the ETF outflow figures show institutional money stepping back rather than buying the dip. For holders of ETH, XRP and PI, the question has shifted from how high prices can go to whether specific support levels hold through the next session.
What to watch
The levels named by the analysts are the immediate tests: $1,900 for Ethereum, $0.99 for XRP and $0.0735 for Pi Network. Continued outflows from spot Bitcoin and Ethereum ETFs, as tracked by Farside, would indicate whether the retreat is still broadening. The prices cited above are analyst observations from Nov. 13 and are not financial advice; crypto markets are volatile and can move sharply in either direction.
Source: crypto.news
