Bitcoin, Ethereum, and Ripple continue to trade under pressure, with leading cryptocurrencies posting losses since the start of the week as broader market sentiment remains fragile. The ongoing selloff reflects sustained volatility, weak liquidity conditions, and growing caution among investors.
Bitcoin slipped to $72,945 on Tuesday, marking its lowest level since early November 2024. The decline followed a sharp selloff that dragged the broader crypto market lower and reinforced the bearish structure that has developed over recent weeks.
Ethereum and XRP followed Bitcoin’s lead. Ether fell to a seven month low, while XRP dropped back toward key support levels, highlighting continued weakness across large cap altcoins.
XRP, the native token of the Ripple ecosystem, is down by less than 1% over the past 24 hours and is currently trading near $1.60. The token saw a mild rebound after retesting the $1.50 support level on Tuesday, but analysts warn that the recovery may be short lived given current market conditions.
According to market observers, prolonged volatility and reduced liquidity continue to weigh heavily on price action. Tony Severino, a market analyst at YouHodler, said in an email to Invezz that Bollinger Bands on XRP’s monthly chart are the tightest they have ever been, signaling extreme volatility compression.
Severino noted that Bitcoin remains below the monthly Bollinger basis line, with only a few days left before a monthly close that could confirm acceptance below that level. XRP, he added, is closely following Bitcoin’s structure on both the weekly and monthly charts.
Historically, sustained closes below the monthly Bollinger basis have often preceded capitulation style moves in the months that follow. While this does not guarantee immediate downside, it suggests that pressure is building rather than resolving. When volatility eventually expands from such compressed conditions, the resulting move has tended to be sharp and decisive.
Severino also pointed out that broader altcoin indexes continue to lag behind Bitcoin. Total market capitalization measures are struggling to reclaim former support levels, reflecting caution rather than full scale capitulation. Many altcoins remain range bound with declining volatility, a phase in which broad exposure typically underperforms selective positioning.
From a technical perspective, XRP remains vulnerable to further downside. The XRP/USD 4 hour chart shows a bearish and inefficient structure, with an unfilled efficiency gap near $1.71. Last week, XRP closed below the daily support at $1.83, losing more than 15% of its value since that breakdown.
If bearish momentum continues, XRP could retest the lower boundary of its falling wedge pattern near $1.44 in the coming hours or days. A deeper selloff could push the token toward the weekly support level around $1.30.
Momentum indicators support the cautious outlook. Both the RSI and MACD on XRP’s lower time frame charts continue to point lower, similar to the signals seen on Bitcoin and Ethereum.
However, if the $1.50 support level continues to hold and buyers step in, XRP could attempt a recovery toward $1.83, which now acts as a key resistance zone. A sustained move above that level would be needed to ease the broader bearish bias.