XRP Plummets While ETH Hunts for Support: Crypto Market Rollercoaster Continues
Crypto markets are showing no mercy today as major assets face brutal pressure.
Ripple's Rough Ride
XRP takes a nosedive that would make traditional investors reach for their blood pressure medication. The token's dramatic drop highlights the volatility that keeps Wall Street dinosaurs shaking their heads.
Ethereum's Foundation Search
ETH scrambles to find solid ground, testing levels not seen in recent memory. The second-largest cryptocurrency by market cap appears to be playing a dangerous game of chicken with support zones.
Meanwhile, the broader market continues its chaotic dance—because who needs stable returns when you can have heart-pumping 20% daily swings? Another day, another opportunity for crypto enthusiasts to either celebrate genius timing or question their life choices.
XRP Bleeds Out Again
It has been exactly a week since Ripple’s cross-border token crashed below $2 during the crypto market collapse. In the following days, the bulls tried to stage a comeback and pushed the price above $2.60 on October 14. Since then, though, the bears came into charge again, and as of this writing, XRP trades at around $2.21, representing a 9% drop on a daily scale and a 21% plunge weekly.
XRP Price, Source: CoinGeckoSome analysts believe the downtrend might intensify in the short term. The popular X user Lark Davis argued that XRP needs to register a weekly close above $2.80 or otherwise it risks tumbling well below $2. For their part, CRYPTOWZRD suggested that Ripple’s native token could post further losses if Bitcoin (BTC) continues to decline. Currently, the leading digital asset is hovering at approximately $105,000, or 5% drop for the day.
On the other hand, XRP perma bulls spread the news that Ripple has agreed to acquire the software company GTreasury for $1 billion. Some, like X Finance Bull, believe this could trigger a parabolic price increase for the token to $1,000 and above. Of course, a target of such magnitude seems highly improbable as of now and even impossible.
What Now for ETH?
The second-largest cryptocurrency has plummeted to nearly $3,700, a 14% crash over the past week.
The X user, Ali Martinez, warned that ETH is on the verge of a bearish Moving Average Convergence Divergence (MACD) crossover on the weekly chart, reminding that the last time this happened, the price collapsed by 43% and 61%.
Ted also chimed in, suggesting the asset will likely retest the next support region around $3,600. “For Ethereum to gain strength, it needs to reclaim $4,000 really soon,” he added.
Others believe the bull run for ETH has yet to begin. According to CryptoRover, Ethereum’s recent performance resembles Bitcoin’s from mid-2024, which later transpired into a massive rally.
What’s Happening With SOL?
The native token of solana is also deep in red territory, crashing by 18% on a weekly scale and currently trading under $180.
Earlier this week, when the asset was worth over $200, Ali Martinez envisioned a potential rise to $260. Several hours ago, Sjuul | AltCryptoGems forecasted that “the biggest uptrend in human history” may begin if SOL breaks the resistance at $210.
