- Bitcoin weakness spreads across altcoins as global risk appetite remains fragile.
- XRP’s 20% rally faded quickly, with thin liquidity fueling selling pressure.
- Egrag Crypto sees breakout-pullback structure, but confirmation still missing.
Crypto prices moved lower this week as Bitcoin and altcoins slipped together, showing that investors remain mixed despite recent rallies. Analysts say weak risk appetite in global markets is hitting cryptocurrencies harder than stocks, with Bitcoin’s weakness spilling over into altcoins and triggering forced selling from leveraged traders.
XRP Drops After Short-lived Rally
XRP has slipped back into the red after posting a strong 20% jump last week, a move that was quickly sold off. The rally lacked strong follow-through, with buyers failing to chase higher prices.
One analyst said the bounce lacked strong follow-through, with little fresh money entering the market. Instead, traders took advantage of thin liquidity to sell into strength.
Source: XXRP’s $2.10 level remains an important support that has held for months. On the upside, moves toward the $2.40 range have so far failed to change the broader trend. A clean break above that zone is very important right now.
Egrag Crypto Outlines XRP Pattern
Crypto analyst Egrag Crypto said XRP’s chart is beginning to resemble a classic technical setup, though he stressed that nothing has been confirmed yet.
According to Egrag, the structure shows signs of a breakout attempt followed by a pullback toward the same area, with the possibility of a bullish hammer forming near support.
Source: XThis pattern often leads to continuation once confirmation appears, but outcomes are not guaranteed.
Based on historical probabilities, Egrag estimates:
- 60–65% chance of continuation higher
- 25–30% chance of longer consolidation
- 10–15% chance of a deeper pullback if support fails
The setup would be invalidated if XRP loses the $1.60–$1.40 support zone on higher timeframes At the time of writing, XRP is trading at $2.05, down more than 2% in the last 24 hours.
Despite the near-term weakness, some analysts see formation of longer-term. After the White House confirmed Donald Trump’s intention to remove taxes on certain crypto transactions, there is a growing optimism around U.S. policy.
Trump has repeatedly said he wants the United States to remain the world’s top crypto hub, warning that heavy regulation could push innovation to countries like China.
Related: Hoskinson Warns Crypto Is Bleeding Retail After Trump Coin Shock
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Source: https://coinedition.com/xrps-bounce-meets-reality-as-bitcoin-pressure-keeps-altcoins-in-check/
