Why Bitcoin, Ethereum, and XRP Are Down Today?

Why Bitcoin, Ethereum, and XRP Are Down Today?
The cryptocurrency market has taken a hit with a significant bearish pullback, dropping 6.73% today. Liquidations amounting to over $28 billion have been reported, marking the largest fall since the U.S. election in 2024.

Bitcoin’s Rocky Ride
Bitcoin's price has plunged below the $100k mark, suggesting a grim outlook. The Relative Strength Index (RSI) has shown a sharp downturn with a bearish convergence, hinting at market volatility. Bitcoin’s 50-day EMA, however, acts as a support, leading to increased market fluctuations.

• If a bullish trend arises, Bitcoin could regain its $100k standing.


• If the market remains bearish, Bitcoin might retest the $92,000 low this week.

Curious about the future of Bitcoin prices? Check out our Bitcoin Price Prediction!

Ethereum's Critical Support Level
Ethereum has slipped below its crucial support of $3,100, recording an 8.31% correction over the past 24 hours. With a YTD return of -7.77%, the largest altcoin struggles to gain traction, indicating waning investor interest.

• Ethereum's immediate resistance: $3,300


• Potential bearish target: multi-month low

Explore more about Ethereum's potential recovery with our Ethereum Price Prediction!

XRP's Support Breached
Ripple has witnessed a double-digit drop, with XRP plummeting by 10.08%. Its trading volume surged to $8.850 billion (+170%), while the price fell to $2.8373. Ripple's bearish outlook is strengthened by an RSI rejection in the overbought range.

• Potential upside: Surpass $3 and target a 52-week high


• Downside risk: Price falling to $2.50

Will Ripple bounce back over $3? Discover insights in our Ripple Price Analysis!

Conclusion and Actionable Insights
The current market scenario is filled with uncertainties, and traders are advised to remain cautious. Here are your key takeaways:

1. Keep an eye on support and resistance levels.


2. Stay informed about market indicators like RSI and EMA.


3. Consider diversifying holdings to mitigate risks.

Think the market will bounce back or decline further? Share your thoughts in the comments below! For more in-depth crypto analysis and predictions, don’t forget to subscribe to our newsletter.