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. Summary 6.5% annual US producer inflation
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.
SummaryAccording 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. Ethereum traded in the $1,900s, XRP hovered around $1, and PI analyst Crypto With Gopal described the token as consolidating near $0.0696.
Against economists’ forecasts of 0.4% monthly growth and 6.6% annual inflation, the headline figures were slightly softer than expected. Barron’s reported that core PPI excluding food and energy rose 0.3% monthly, matching the consensus compiled by FactSet.
A separate BLS measure excluding food, energy and trade services rose 0.5% in October and 4.9% annually. Goods prices gained 0.5%, while services rose 0.2%, according to the agency.
The timing places Friday’s inflation release after the first wave of crypto selling. Earlier on Nov. 13, crypto.news reported that Bitcoin had fallen below $70,000 while CoinGlass recorded approximately $1.23 billion in liquidations across cryptocurrency exchanges.
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Bitcoin accounted for $677.5 million of that total, including $653.5 million in long positions. The same report cited a dollar index above 103 and renewed selling in technology shares following Nvidia CEO Jensen Huang’s resignation.
US spot Bitcoin ETFs had recorded $299.8 million in withdrawals on Nov. 11, according to Farside figures cited in the report. BlackRock’s IBIT accounted for $269.7 million, with withdrawals across five consecutive sessions totaling approximately $1.44 billion.
For Ethereum, analyst Ella identified $1,900–$1,940 as an area where buyers might attempt a recovery, while emphasizing that the four-hour chart continued to form lower highs.
“I’m not calling this a bottom just because price touched support,” she wrote in a Nov. 13 X post, placing ETH around $1,940.
Her recovery scenario requires a move above $2,040 to make the chart look less weak. A clear loss of $1,900, however, would put $1,840 next on her watchlist. From $1,940, that lower level represents a decline of approximately 5.2%.
Alex Marzell outlined a deeper bearish scenario after identifying another breakdown from a rising channel. In his Nov. 13 post, he placed $1,500 on the radar if selling momentum continues. His chart showed repeated channel failures, with the latest projected decline pointing toward that level.
$ETH has broken down from yet another rising channel.This is becoming a recurring pattern.The $1,500 level is now on the radar if bearish momentum continues.How many more breakdowns before ETH finds a bottom? 💀 pic.twitter.com/PJN77J76Va
— Alex Marzell (@MarzellCrypto) November 13, 2026
The two assessments cover different downside distances: Ella’s $1,840 level sits relatively close to her quoted price, while Marzell’s $1,500 scenario implies a fall of roughly 22.7% from $1,940.
Earlier Ethereum liquidation figures put forced closures at $249.8 million, including $225.9 million in longs. Farside data cited in that coverage showed $144.8 million leaving US spot ETH ETFs on Nov. 11, with BlackRock’s ETHA accounting for $129.8 million.
Separately, Lookonchain identified a Foundation-linked wallet sale involving 2,000 ETH worth approximately $3.87 million. Onchain Lens described the transaction as an exchange for USDS through CoWSwap.
On XRP’s three-day chart, Ali Charts said the token had reversed its gains after failing to break resistance at $1.55, returning toward the channel’s lower boundary at $0.99.
XRP REVERSES ALL GAINSIt happened.$XRP failed to break above the $1.55 resistance at the top of the channel and has now completed a full reversal toward the channel’s lower boundary at $0.99.Now, $0.99 must hold.If XRP loses this support, the correction could extend… https://t.co/nq0F2R2a3apic.twitter.com/hf3DPgaS9m
— Ali Charts (@alicharts) November 13, 2026
His X post put the next downside level at $0.80 if that support fails. The move from $0.99 to $0.80 would represent a further decline of approximately 19.2%.
The attached chart displayed XRP at $1.026, just above the support he identified. Intermediate chart labels included $1.13, $1.29 and $1.40, below the rejected upper boundary.
Despite the downtrend, Crypto With Gopal identified a falling wedge on PI’s chart, describing sellers as losing momentum while buyers defended its lower trendline near $0.0696.
$PI printing a textbook Falling Wedge pattern 👀Price is consolidating near $0.0696 after a prolonged downtrend. Sellers are gradually losing momentum, while buyers are stepping in to defend the lower trendline.A breakout above $0.0735 could open the door toward $0.085 📈🔥… pic.twitter.com/EiN2VQHz5R
— Crypto With Gopal (@cryptowithgopal) November 13, 2026
His bullish scenario depends on a breakout above $0.0735, approximately 5.6% above that quoted price. He placed the subsequent target at $0.085, implying a further 15.6% gain from the breakout threshold.
Read more: Crypto market sees brief relief after cooler US PPI data
