Bitcoin (BTC), Ethereum (ETH), and XRP Price Prediction Today (For March 11)

The cryptocurrency market has been on a wild ride, losing more than 1.3 trillion dollars in value since Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President began his second term as US president. Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies, have been hit the hardest, facing intense selling pressure over the past eight weeks.

While some expected Trump’s policies to boost crypto, a mix of economic uncertainty, shifting regulations, and ongoing trade wars have created a storm that’s rattling investors. At the same time, institutional players seem to be pulling back, raising concerns about where the market is headed next. On-chain data shows that US spot Bitcoin ETFs have seen outflows of over 4.3 billion dollars in the past two months, reflecting declining confidence among major investors.

Is this just another dip before a recovery, or are we looking at a deeper correction?

Bitcoin Price Expectations Today

After falling more than 14 percent last week, Bitcoin has been testing an important support level around $78K dollars over the past two days. On the two-hour chart, BTC appears to be forming a bearish continuation pattern, which could push the price lower toward $73.7k. 

Arthur Hayes, co-founder of BitMEX, believes Bitcoin’s downward trend will continue until major global central banks, including the Federal Reserve, the People’s Bank of China, the European Central Bank, and the Bank of Japan, start a new round of quantitative easing to boost economic growth.

Ethereum Price Prediction 

The Ethereum (ETH) market has led the wider altcoin industry in bearish sentiment in the recent past. The large-cap altcoin, with a fully diluted valuation of about $225 billion and a 24-hour average trading volume of about $41 billion, closed last week below a crucial support range between $2.1k and $2.2k. 

As a result, it is safe to assume that the Ethereum sellers have the higher ground over the buyers. In the past 24 hours, Ether’s price retested the rising trendline of a regular chart of the weekly timeframe. However, a consistent close below $1,760 will trigger a heavy selloff in the coming weeks for Ether.

Crypto analyst Benjamin Cowen predicts that Ethereum’s price will likely bottom out once the Federal Reserve ends its prolonged quantitative tightening policy.

XRP Price Prediction 

Ripple Labs’ XRP price has been forming a potential reversal pattern since early December 2024, characterized by a head and shoulders (H&S) formation coupled with a bearish divergence of the weekly Relative Strength Index. In the past few days, the XRP price has been retesting a crucial support level around $2, which coincides with the possible neckline of the H&S pattern. 

If the XRP buyers fail to defend the current support level, a major selloff towards $1.5, which coincides with the 0.618 weekly Fibonacci Retracement, will be inevitable.

If the selloff continues, the road ahead for Bitcoin, Ethereum, and XRP could get even more volatile.

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