Ripple XRP’s Current Market Position

The cryptocurrency is experiencing early signs of vulnerability, despite rebounding from a key trendline identified last week. According to technical analysis by crypto market expert ‘CasiTrades’, Ripple XRP has not yet surpassed the critical $3 resistance level. This threshold is crucial for confirming a new bullish trend.

Without breaking this barrier, the asset may continue facing downside tests. Immediate support levels have been pinpointed at $2.79 (50% retracement) and $2.58 (61.8% retracement). Recent price movements raise caution, as the upward trend resembles a corrective ABC pattern rather than a five-wave impulsive rally. The C-wave targets have faced sharp rejection, with bearish divergences emerging on the 4-hour chart.

Technical Analysis of Ripple XRP

On a shorter timeframe, the 1-hour RSI shows Ripple XRP testing its lower support trendline. This level is under close observation to determine future movements. A dip below $2.69 would necessitate a reassessment of the current wave count. However, a test of $2.58 might still align with a broader bullish scenario if maintained.

If Ripple XRP falls below $2.58, it could undermine the bullish market structure and jeopardize the macro outlook. For now, supports remain largely intact, with traders awaiting critical levels to provide the momentum needed to challenge resistance.

Potential for a Wave 3 Breakout

A genuine Wave 3 breakout would require clear and decisive breaks above $2.79, $3.00, and $3.25. Continued resistance or rejection at these levels could indicate further downside testing before any sustained upward movement. Analysts suggest monitoring Bitcoin for alignment and watching for bullish divergence in the next wave down. Once momentum appears, Ripple XRP could be set for the breakout traders have been anticipating.

Long-Term Prospects for Ripple XRP

Despite near-term bearish indications, some analysts predict a longer-term bullish setup, potentially mirroring Ripple XRP’s historic 2017 rally. Analyst MilkybullCrypto points out that Ripple XRP is approaching its highest quarterly close, which could pave the way for an uptrend toward $15.

Should the cryptocurrency maintain or exceed its current level by the quarter’s end, bullish momentum might continue in the coming weeks or months. The analyst draws parallels to 2017 when Ripple XRP’s quarterly close above $0.02 triggered a massive rally of nearly 37,800%, eventually peaking at $3.31 within a year.

In 2025, Ripple XRP seems to be on a similar path. A quarterly candle has turned green after years of consolidation, and the token has broken through a significant resistance zone around $2.20-$2.30. MilkybullCrypto notes that history may repeat with another substantial rally.

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One notable market analyst has proposed an even grimmer forecast for Bitcoin’s price in the next few weeks. This prediction suggests that Bitcoin is merely at the start of a downward trend that could intensify in the forthcoming days.

Chartered Market Technician (CMT) Aksel Kibar, in a July 25 post on social media platform X, projected a bearish future for Bitcoin after its price dropped to $115,000 on Friday. According to Kibar, the leading cryptocurrency may be heading for a low of approximately $109,000 soon.

Kibar’s pessimistic outlook is based on the inverse head-and-shoulders pattern visible on the weekly Bitcoin price chart. This pattern, characterized by three unique price dips, includes a lower “head” placed between two higher “shoulders”. This pattern usually suggests a potential bullish breakthrough confirmed when the price crosses the neckline – a line linking the tops (swing highs) between the head.

However, according to Kibar, Bitcoin’s price breakout may not align with the standard breakout often seen in inverse head-and-shoulders pattern scenarios. Kibar argues that most head-and-shoulder breakouts are succeeded by pullbacks and retests, not direct rallies.

Historical data provided by Kibar demonstrates that, since May 2017, Bitcoin’s price experienced a retest or pullback (type 2 continuation) more often than a direct rally (type 1 continuation) following a head-and-shoulder pattern breakout. This trend supports Kibar’s bearish projection for Bitcoin’s price in the upcoming days.

If Bitcoin experiences a deeper correction akin to the type 2 continuation, it is likely to revert to the neckline, around the $109,000 level. Such a move would denote an over 5% drop from the current price point.

Despite a rough start to the day, the market leader appears to be gradually recovering from its recent fall to $115,000. At the time of writing, Bitcoin’s price stands at approximately $117,323, indicating a slight 0.6% decrease in the past 24 hours.

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Although many in the crypto sphere are optimistic for a market rebound, Coin Bureau’s recent findings suggest that the on-chain data might tell a different story.

Analysts See Unlikely $3 XRP Target Amidst Decreasing Network Activity

In a post published on June 20, Coin Bureau pointed out that XRP’s path to reclaiming its bullish stance seems arduous due to dwindling network engagement. Specifically, Glassnode data reveals a significant drop in new wallet creations on the XRP Ledger, from over 30,000 daily in January to currently under 5,000 daily.

Interestingly, Glassnode charts show a strong correlation between price movements and network growth. The late Q4 2024 spike in wallet creation coincided with a sharp price rise, pushing XRP to a high of $2.71. However, as the influx of new users began to wane, XRP’s price followed suit, entering a period of consolidation and gradual decline.

In addition to these observations, Coin Bureau also underscores the dramatic fall in XRP’s daily active addresses, from 557,000 to just 34,000, hinting at dwindling retail investor interest in the XRP ecosystem. According to market analysts, this sharp decrease in network engagement suggests that XRP might not have enough market demand to support a bullish climb towards the crucial $3 resistance zone.

However, another theory proposes that the previous network activity highs seen in Q4 2024 and January were associated with widespread market euphoria following the US general elections. This theory argues that the decline is a part of social trends and is overstated by Coin Bureau.

XRP’s Price Outlook

At the moment, XRP is trading at $2.13, reflecting a 1.33% decrease in the past day. Meanwhile, the asset’s daily trading volume has risen by 22.29%, reaching a value of $2.25 billion. Based on data from prediction site CoinCodex, investors remain largely bearish towards XRP, although the Fear & Greed Index is neutral at 54.

CoinCodex analysts anticipate that XRP will remain in consolidation in the short term, with a projected value of $2.12 in a month. However, they predict a slow but steady long-term bullish recovery, with estimates of $2.45 in three months and $3.03 in six months.

The post XRP Sees a Sharp 80% Drop in New Daily Addresses in 2025: A Warning Bell of Prolonged Bearish Trend? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Renowned crypto analyst MIRZA, in a recent TradingView post, raised the possibility of a significant Bitcoin crash that could further destabilize the market. He highlights the increasing vulnerability of Bitcoin and the emergence of bearish patterns on its price chart.

One key bearish progression was Bitcoin’s failure to rise beyond $111,000, despite being close last week. This resistance level coincides with the previous all-time high, indicating that the digital asset lacks the power necessary for continued growth. This lack of momentum resulted in a decline towards the $103,000 mark as bears regained control.

This pessimistic decline implies the formation of a potential double top or a lower high structure – both negative indicators suggesting the end of an upward trend. MIRZA anticipates a liquidity grab at lower levels, with a potential crash of over 15%, pushing it under $90,000 and possibly as low as $85,000 before finding a bottom.

However, not all hope is lost. If Bitcoin manages to rise above $107,000 and maintain it, the upward trend might still continue. Another analyst, RLinda, echoes this sentiment, suggesting that Bitcoin could range between $102,500 and $106,200 for some time before deciding its direction.

The post “Bitcoin Nearing a Critical Slip: Analysts Predict Steep Fall Under $90,000” appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Although Bitcoin attempted to regain the $110,000 mark earlier this week, it slipped below the 21-day moving average. Despite this, it remains above the 50-day moving average support level. The convergence of these moving averages, along with a distinct trendline resistance, has pushed Bitcoin into a descending triangle pattern with a tightening price structure.

A cryptographer on platform X notes that Bitcoin is forming a descending triangle pattern on its daily candlestick chart. As per technical analysis principles, this setup often indicates bearish trends. The associated chart image depicts repeated rejections from a downward trendline that commenced when Bitcoin hit a new peak of $111,814 on May 22. The base of the triangle, however, has remained constant with a support zone around $102,000.

The 21-day moving average (21MA), illustrated in blue, is applying downward pressure, acting as resistance, while the 50-day moving average (50MA), shown in green, is providing temporary support. As the price action continuously narrows within this triangle, the market is set for a decisive move. The direction of this breakout will likely determine the next significant trend.

The ongoing Israel-Iran conflict could be the catalyst that pushes Bitcoin out of its current range. Notably, the crypto market experienced a surge of liquidations following the news of an Israeli airstrike on Iran. Bitcoin’s behavior during such geopolitical instability can be unpredictable. It could either serve as a safe haven or be liquidated for liquidity. If market fear continues to rise, Bitcoin might break below the $102,000 support, thereby confirming the bearish implications of the descending triangle. However, if the market sees a return of bullish momentum, a break above the descending trendline could disprove the bearish pattern, paving the way for a retest of the $110,800 all-time high. Currently, Bitcoin is trading at $104,990.

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In his analysis, Thomas enlightens his audience about the current Bitcoin price situation and the potential for a pullback. This situation begins with a breakout after a drop towards $100,000, followed by a strong rebound. The digital currency managed to swiftly bridge multiple fair value gaps on 4-hour timeframes to secure its position above $110,000.

According to the crypto analyst, this movement has instigated a positive sentiment shift, accompanied by increasing trading volumes and impulsive candles, painting a largely bullish picture for Bitcoin. However, a price drop risk still looms.

Believing that an established pattern has been set for Bitcoin’s price, Thomas expects a similar trajectory, involving a quick rise followed by a brief pullback and a subsequent continuation. This pattern, termed by Thomas as “a classic breakout-fill-continue sequence”, is likely to repeat itself.

The recent Bitcoin price rally above $110,000 has seemingly left a fair value gap below $107,000, which Thomas predicts will need to be filled. If this turns out to be true, the price rally might halt until this condition is met. However, a pullback to this level will not necessarily be bearish but instead, could provide a launchpad for the price recovery.

The crypto analyst anticipates this pullback to drag the price down below $105,000, reaching as low as $104,000 territory before the next upward bounce. This implies a 5% pullback, which could be detrimental for altcoins based on this year’s trends.

Despite this, the major takeaway is Bitcoin’s sustained bullishness. Once the fair value gap is filled, a strong upward push is anticipated, potentially leading to new all-time highs. “I’m expecting a controlled retracement to fill the new 4H imbalance, after which price could continue pushing toward the major resistance area. The momentum is clean and structured—until that changes, continuation remains the more likely path,” stated the analyst.

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Detailing his latest insights, the trader clarified that Chainlink’s daily candle officially ended with bullish inclinations, indicating a significant technical point in the ongoing trend. Simultaneously, LINKBTC concluded the session on a high note, strengthening the optimistic forecast for LINK in the short term.

However, the analyst stresses the need for additional bullish daily closes on LINKBTC to confirm momentum. A sustained show of strength could trigger an impulsive breakout above the daily candle’s lower high trendline, sparking the next upward surge.

An assertive move above the 0.000140 BTC resistance area is anticipated to boost LINK’s price action, offering bulls a distinct cue to drive higher. Given the momentum persists, LINK might rally towards the $16 resistance mark, setting a significant target for the current configuration. As of now, $12.50 remains a crucial support level on the daily timeframe and will serve as a buffer if bearish forces resurface.

Looking forward, the analyst indicates Bitcoin and Bitcoin Dominance as the main market influences for Chainlink entering the weekend. While maintaining a balanced perspective, CRYPTOWZRD intends to monitor Chainlink’s intraday chart meticulously for any unfolding scenarios.

In conclusion, the analyst emphasizes that Chainlink’s intraday chart hints at a bullish recovery, aligning with Bitcoin’s recent rebound. He is hopeful for more upside if the current conditions persist, especially if Bitcoin retains its strength. Despite the promising indicators, the expert notes that a temporary bearish pullback would be typical and beneficial in the current market setting. He believes such a pullback could offer an advantageous early entry point for long positions, particularly for short-term or intraday traders looking to exploit the volatility.

As the market evolves, CRYPTOWZRD advises traders to await clear confirmation of the next trade setup before taking action. He highlights that strategic patience will be crucial in identifying the most lucrative opportunities. Traders should monitor price behavior closely and be ready to move quickly when the next valid entry signal emerges.

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Martinez highlighted a TD Sequential Buy Signal on Solana’s 12-hour price chart. The TD Sequential is a widely used technical analysis tool that helps to identify possible price reversal points. This indicator operates in two stages: the setup and the countdown.

The setup stage involves counting up to nine identical color candles. These candles do not necessarily have to be sequential. Once the ninth candle appears, the TD Sequential indicates a reversal signal for the asset. If the candles were green, indicating an uptrend, the signal would suggest a bearish reversal. Conversely, red candles lead to a bullish signal.

Following the setup, the countdown stage begins. This stage mirrors the setup, but the count extends to thirteen. After these candles, the asset could be on the brink of another reversal point.

As per Martinez’s chart, Solana’s 12-hour price recently completed a TD Sequential setup phase. Interestingly, the nine candles in this pattern were red, indicating a buy signal for the cryptocurrency. This signal comes after Solana experienced a 13% drop over the last week. It remains to be seen whether this signal will trigger a bullish reversal for the coin.

However, on-chain data suggests a different outcome. Cryptocurrency transaction tracker service, Whale Alert, reported that a SOL whale transferred approximately 2.86 million tokens ($441 million) to the Binance platform. This transfer could potentially have a bearish impact on Solana if the intention was to sell these tokens.

After a bearish trend, Solana’s price currently stands at $153.90.

The post Solana Plunges by 13%, However, a Key Indicator Shows a Bullish Trend appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The cryptocurrency initiated a new decline under the $78,000 zone. It is now trading below $78,500, and it’s also beneath the 100 hourly Simple moving average. A downward trend line is forming with resistance at $79,500 on the BTC/USD pair’s hourly chart (data sourced from Kraken).

Assuming it successfully crosses the $78,500 zone, Bitcoin could see a subsequent increase. The cryptocurrency recently suffered a decline below the $80,000 and $79,500 levels, dropping even below the $78,500 and $77,000 levels, entering a bearish zone.

Bitcoin’s price even breached the $75,000 support. A recovery wave began after hitting a low of $74,475. The price ascended past the $75,500 level and also cleared the 23.6% Fibonacci retracement level of the recent drop from the $80,800 peak to the $74,475 low.

Currently, Bitcoin is trading below $78,200, and the 100 hourly Simple moving average. The immediate resistance on the upside is around the $77,800 mark or the 50% Fibonacci retracement level of the recent drop from the $80,800 high to the $74,475 low.

The primary resistance is around the $78,500 level, with the next key resistance potentially at $79,500. A close above the $79,500 resistance could propel the price even higher, possibly to the $81,500 resistance level. Further gains might push the price towards the $82,000 mark.

If Bitcoin does not surpass the $78,500 resistance zone, a new decline could be on the horizon. Immediate support on the downside is near the $75,750 level, with major support at the $74,750 level.

Support is also forming around the $73,500 zone. Any further losses could push the price towards the $72,000 support in the near future, with the main support at $70,000.

Technical indicators suggest the MACD is gaining momentum in the bearish zone, with the RSI for BTC/USD now below the 50 level. The major support levels are $75,750 and $74,750, while the major resistance levels are $78,500 and $79,500.

The post Bitcoin’s Value Plummets Yet Again: Is a Major Drop Imminent? appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The failure to overcome this resistance indicates that bears still hold sway, keeping Ethereum’s price under continuous strain. As the momentum wanes and the market sentiment turns wary, traders are keeping a close watch on key support zones to anticipate the next move.

Bearish Pressure Intensifies: What’s in Store for Ethereum?

Facing mounting downward pressure, Ethereum’s latest recovery effort was thwarted at the $2,160 resistance level. This unsuccessful breakout has strengthened bearish sentiment, with key technical indicators signaling weakness. If the buyers do not intervene, a further dip in ETH’s value may be imminent.

One alarming sign is the waning volume during the recovery attempt. A robust breakout often necessitates significant buying interest, but the lack of momentum in Ethereum’s rally made it easy for sellers to regain the upper hand. This lack of determination among bulls implies that the upward move was not sustainable, enabling bears to drive prices lower.

Moreover, the Relative Strength Index (RSI) has plummeted, falling below crucial thresholds that denote weakening bullish strength. The currently declining RSI signifies that buying pressure is fading, posing a challenge for Ethereum to build upward momentum. If the RSI continues its downward trend, it could further validate a prolonged bearish phase.

The Moving Average Convergence Divergence (MACD) has also taken a negative turn, with a break below the signal line and an expanding gap between the MACD and its moving average. This crossover indicates that bearish momentum is gathering pace, diminishing the chances of an immediate recovery. The MACD breakdown, when coupled with other bearish signs, further bolsters the case for continued downside.

Looking ahead, ETH might retest crucial support zones. However, a strong rebound from lower levels could give bulls another opportunity to regain lost ground. As of now, the charts imply that Ethereum remains susceptible to further declines.

Support Levels To Monitor: Can Bulls Avert Further Decline?

With focus now shifting to crucial support levels, the first significant support to monitor is around $1,523, a level that previously served as a short-term demand zone. If Ethereum maintains above this zone, it could provide bulls with a base for another rebound attempt. However, a break below this level could signify growing bearish dominance, elevating the risk of deeper losses.

Below $1,523, the next critical support is at $902, coinciding with previous price reactions and serving as a psychological level for traders. A failure to hold here could intensify selling pressure, driving ETH towards other lower support levels.

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