The crypto market today has taken a major hit, with Bitcoin, ETH, XRP and the majority of altcoins plunging steeply. The business’s market cap at the time of press has dropped 9%, triggering fear among the market participants. This freefall is closely aligned with pressure looming across traditional markets. Talking about which, the S&P 500 and NASDAQ have fallen over concerns revolving around Trump’s trade tariffs affecting Canada and Mexico. And also, the measures focusing on China.
Bitcoin (BTC) Price Prediction:
Bitcoin has been sliding down the spiral, on its daily chart, it is currently changing hands at $83,640 after shedding 9.07% since yesterday. Marketers seem to have ceased the dip, as the intraday trading volume remains strong at $73.78 billion.
If BTC price fails to hold firm above the $82,000 support zone, it could drop further toward the crucial support level at $80,000. On the positive side, a recovery above $86,000 might ignite a rebound toward the resistance at $90,000.
Ethereum (ETH) Price Prediction:
Ethereum has borne the brunt caused by growing ETF outflows, as the numbers shot up to $164 million in the past week. Plus, the liquidations surging to $209 million. The repercussions of this and the broader market turmoil have led to ETH price plummeting by 14% overnight.
Its price is currently floating around $2,087, if it falls below $2,000, Ethereum could test the $1,900 mark, where buyers may step in. In contrast, a strong push above $2,200 could take the price toward $2,400.
XRP Price Prediction:
XRP has incurred a fall of 16% on its daily chart, taking its price to $2.36, at the time of press. The token has faced heavy selling pressure, with long liquidations tallying up to $50 million. A further plunge could lead to a slide to the $2.20 mark.
That being said, a break below $2.20 could see XRP testing $1.76 and potentially $1.55, where the 200-day SMA lies. However, a bounce above $2.48 might open the doors for a recovery toward the much anticipated $3.00 price tag.
FAQs
Amid rising uncertainty in the financial markets, political decisions in the U.S, the Bitcoin price today has dropped by ~9%.
With rising selling pressure, liquidations, reduced trading volume, and ETF outflows, the price of ETH has been crashing.
Considering the current market sentiments and circulating supply of Ripple tokens, it is highly unlikely for this altcoin to achieve this target price.
