The currency market is heat today, as Bitcoin and XRP hit. Bitcoin has decreased by more than 3 % and this shift in feelings is partially due to an unexpected clash between Elon Musk and US President Donald Trump, who publishes newspaper addresses. Although it is not a complete financial crisis, the uncertainty is sufficient to make investors a little tense-and markets in general do not interact well with surprises.
On the technical front, the RSI (Bitcoin) index is heading down, hinting that it may soon enter the sale area. Bitcoin can test the support level of $ 98,000 if the declining direction continues.
Although this decrease raises concern for some, it is a typical part of the market cycle. The bull market has not yet been completed-Bitcoin is still higher than the moving average for 200 days, and price recovery may be on the horizon after a little monotheism.
In addition to the pressure, more than 285 million dollars have been liquidated in the long positions through the encryption market during the past 24 hours, which prompted prices further. However, global liquidity standards – that measure the flow of money in the financial markets – are still strong. This is a promising sign of possible recovery in the coming weeks.
As for XRP, there is some good news on the organizational side. The new documents confirm that XRP will be recognized as a interest symbol under MICA (markets in encrypted assets) in Europe. This clarification enhances a long -term Ripple strategy in border payments.
However, like the rest of the market, the price of XRP is also discovered in the broader landmark. He currently maintains the main support levels of about $ 2, and technical analysis shows that there may be a possible recovery. Some believe that if XRP can maintain its location over this area and repeat the pattern seen during the last large gathering, he may see climbing.
In short, the decrease in encryption prices today is driven by a mixture of uncertainty in the market, technical signals, and collective filters-but long-term possibilities for Bitcoin and XRP are still sound.
