Crypto markets experienced a slight dip on Thursday as traders took profits following a recent rally. While Bitcoin managed to hold steady around the $93,000 level, other cryptocurrencies saw declines. XRP, Ether, and SOL all dropped by over 2%, with Dogecoin leading the losses with a drop of over 5%. XRP is currently trading at $2.16, down over 4% in the last 24 hours.
Bitcoin is currently facing resistance near $91,275, with the potential for a pullback to the $85K–$90K range if ETF inflows do not increase or if it fails to break through the $95K level, according to Bitget’s Ryan Lee. Traders are closely monitoring macro trends and liquidity to determine their next moves.
Analysts are closely watching XRP as it attempts to breach major resistance levels. XRP recently surpassed a key resistance level at $2.24, signaling the start of a strong uptrend. Although it faced a brief rejection at that level, analysts believe it could just be a healthy pullback rather than a sign of weakness.
Analyst Casi suggests that the recent momentum in XRP could indicate a new trend, with potential for new highs. She highlights key levels to watch at $2.24, $1.90, and $1.55, which could serve as launchpads for a significant move. The overall sentiment is bullish for XRP, with expectations of a potential rally in the near future.
In the Bitcoin market, the cryptocurrency has been testing the $95K level, with brief pullbacks to $92K. Analyst Ali Martinez notes that Bitcoin is currently testing its yearly open at $93,548, which could now act as a resistance level. Despite this, the overall outlook for Bitcoin remains bullish, with the potential for a significant move in the near future.
Analyst Egrag Crypto is also optimistic about XRP’s future, drawing parallels to the 2017 bull run pattern. He predicts that XRP could reach $27 soon, with a potential surge to $120 in the next cycle.
In conclusion, the cryptocurrency market is currently experiencing a period of consolidation and profit-taking following a recent rally. Traders are closely monitoring key levels and trends to anticipate the next major moves in Bitcoin, XRP, and other cryptocurrencies. Stay informed with the latest news, analysis, and insights to navigate the ever-changing crypto landscape.