On Friday, Bitcoin is trading around $97,400 after experiencing a 5% drop over the last three days. Ethereum is struggling at approximately $2,700, showing signs of a possible decline. Meanwhile, Ripple has faced resistance near $2.72 and is expected to correct further. Bitcoin bears may push prices down toward the crucial $90,000 level, while Ethereum could drop to test support at $1,905 if it falls below $2,359. Ripple is looking to bounce back but risks falling to $1.40 if it closes below its support level of $1.96. Overall, all three cryptocurrencies face bearish trends, indicating potential challenges ahead.
Bitcoin, Ethereum, and Ripple Prices Face Challenges Amid Market Fluctuations
Bitcoin remains in a tight spot, trading around $97,400 as it struggles to recover from a recent drop of nearly 5% over the last three days. Ethereum and Ripple are also under pressure, with both cryptocurrencies failing to maintain upward trends, signaling potential further declines.
Bitcoin Bears Target $90,000
Bitcoin’s price initially dipped to $91,231 but managed to bounce back, reaching above $101,300 earlier in the week. However, it could not sustain this recovery, leading to its current position around $97,000. Analysts suggest that if Bitcoin continues this trend downward, it may test the vital $90,000 psychological barrier.
Indicators like the Relative Strength Index (RSI) show a reading of 44, demonstrating bearish momentum, while the Moving Average Convergence Divergence (MACD) reflects a bearish crossover. These signals suggest a possible continuation of the downtrend unless Bitcoin can find support near $100,000 to propel it back toward its January high of $106,012.
Ethereum Poised for Decline Below $2,700
Ethereum is currently trading near $2,715, having struggled to maintain its footing above $3,000. Following a low of $2,125 earlier this week, it briefly rallied before experiencing a decline of nearly 7%. Should Ethereum’s price fall below $2,359, it might approach its next support level at $1,905.
With the RSI at 33, nearing the oversold threshold, and continuing bearish signals from MACD, Ethereum seems set for a potential downleg unless it can reclaim the crucial $3,000 level.
Ripple Faces Rejection, Eyes Further Correction
Ripple is trading around $2.35 after failing to break through the daily resistance at $2.72. Earlier this month, Ripple experienced a setback after breaching its ascending trendline and dropping significantly. After peaking at $2.70, it was rejected and witnessed a nearly 14% decline in recent days.
If Ripple falls below its daily support of $1.96, it may slide to the next weekly support level at $1.40. The RSI stands at 35, approaching oversold territory, and the bearish crossover in the MACD points to ongoing downward momentum.
Overall, with Bitcoin, Ethereum, and Ripple facing critical levels, traders and investors should remain cautious while monitoring Market fluctuations in the coming days.
What is happening to BTC, ETH, and XRP prices right now?
BTC, ETH, and XRP are facing pressure in the Market. Prices are dropping, and many in the crypto community are worried about further declines.
Why are BTC, ETH, and XRP at risk of further declines?
These cryptocurrencies are influenced by factors like regulatory news, Market sentiment, and trading volume. Negative news or tough regulations can push prices down further.
Should I sell my BTC, ETH, or XRP now?
That depends on your situation. If you believe prices will go lower, selling might protect your investment. But if you think the Market will recover, holding on could be better.
What can make BTC, ETH, and XRP go up again?
Positive news, like favorable regulations or increased adoption, can help prices rise. Also, if more people start investing again, it could push the prices up.
How can I stay updated on BTC, ETH, and XRP trends?
You can follow crypto news websites, join forums, and check social media. Keeping track of expert opinions and Market analysis can also help you make informed decisions.
