The crypto market ails under pressure, with total capitalization dropping by 1.76% to $3.97 trillion, and daily trading volume dropping 30.1% to $177.4 billion. The fall has come amid macro jitters ahead of Powell’s Jackson Hole speech on August 22.
Talking about numbers, a break below the $3.96T Fib support highlights a broader technical breakdown. Successively, CoinGlass data, shows $535.89 million in liquidations over the past 24 hours. With Ethereum leading at $213M, followed by Bitcoin at $111M and XRP at $18M. In this analysis I take you through the potential targets for Bitcoin, Ethereum, and XRP prices
Bitcoin Price Analysis
Bitcoin is currently trading across exchanges at $115,451.51, down 2.21% in the past 24 hours and 5.4% lower over the week. With volume up more than 20% to $56.86 billion. After setting an all-time high of $124,457 just four days ago, BTC has broken below the $118.8k support, which triggered more than $81 million in long liquidations.
The chart I’ve shared, shows BTC sliding beneath the mid-Bollinger Band while testing lower support around $115k. The RSI near 31, suggests oversold conditions but no clear sign of a reversal. Unless buyers step in quickly, the price could drift further toward the $112k support zone next week. A recovery above $117.5k is needed to stabilize momentum, while regaining $118.8k would open the door to retesting $123k and potentially $127k.
Ethereum Price Analysis
Ethereum is currently changing hands at $4,268.63, down 4.32% since yesterday, though only slightly lower on the week. Daily business has surged 52% to $41.93 billion, signaling aggressive selling pressure. ETH price remains about 13% below its $4,891.70 all-time high and has breached a critical $4,380 support level, causing cascading liquidations.
The chart above shows ETH hugging the lower Bollinger Band, with RSI at 37 reflecting weakening momentum. If price action continues to stall under $4,380, Ethereum could slip toward $4,144 support next week. On the other hand, a rebound above $4,380 may pave the way for a recovery toward $4,500 and possibly $4,878 if buyers return in strength. That being said, heavy staking withdrawals, about 855,000 ETH this week, are amplifying spot selling pressure.
XRP Price Analysis
XRP is trading at $2.97, with a fall of 4.83% in a day and 8.5% over the past week, with volume slightly higher at $6.12 billion. XRP has broken below the $3.05 support level, confirming a bearish bias as price dips near the lower Bollinger Band.
The RSI sits at 31, showing oversold conditions but not yet a confirmed reversal. If buyers fail to defend the $2.85 support zone, XRP price could extend losses toward $2.65 next week. A close back above $3.05 would signal potential relief. Thereby opening the doors to $3.28 and $3.49 resistance levels.
FAQs
Rising U.S. inflation fears, institutional profit-taking, and a technical market breakdown led to $535M in crypto liquidations, driving prices lower.
If BTC fails to recover above $117.5k, it may test $112k next week. A rebound above $118.8k could target $123k–$127k.
ETH must reclaim $4,380, and XRP must hold $2.85 to avoid deeper losses. A short-term bounce is possible if buyers step in at support zones.
