Bitcoin Stumbles to $106K as Traders Cash In—Ethereum and XRP Hold Strong

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2025-05-29 15:03:10

Profit-taking sweeps the crypto market as Bitcoin sheds value—but not all assets follow suit.

Ethereum and XRP defy the dip, showing unexpected resilience while BTC whales take money off the table. Classic crypto volatility—just another day in the unregulated Wild West of finance.

Will the ’hedge against inflation’ narrative hold, or is this another case of speculative froth? Only your portfolio will know for sure.

Bitcoin Price Continues on a Downtrend

The decline in Bitcoin price comes after a failure to hold above the $109,588 resistance level, triggering selling by short-term traders. Analysts note that the 20-day exponential moving average (EMA) at $105,453 is a critical support level to watch.

At the time of writing, Bitcoin is trading near $106,520—down 4.69% in the past 7 days. Notably, its 24 hour trading volume has increased by 11.77 today as it continues dipping below weekly lows.

Bitcoin Price Drops 4.69% In 7 Days — Source Coinmarketcap

Bitcoin Price Drops 4.69% in 7 Days — Source: CoinMarketCap

“If bitcoin rebounds strongly from this point, it signals that traders are buying the dips,” said Keith Alan, co-founder of Material Indicators, highlighting ongoing whale accumulation despite the correction. The broader market capitalization also fell by 2.5%, reflecting a cooling-off period after Bitcoin’s surge to $112,000 last week.

Ethereum and XRP Hold Steady

In contrast, Ethereum (ETH) has held its momentum near its weekly level of $2,662, buoyed by strong institutional interest and predictions of outperforming Bitcoin due to its growing DeFi ecosystem. Ethereum rose as high as $2,771 earlier today while later declined and currently its holding the daily-open nearby $2,650, with a 47% increase in its 24 hour trading volume.

XRP, currently trading at $2.28, also traded steadily despite a brief 2% dip earlier this week. The stability follows VivoPower’s $121 million investment plan to establish an XRP-based treasury reserve, a MOVE likened to Michael Saylor’s Bitcoin strategy at MicroStrategy.

Recent on-chain shows that XRP payment volume has surged to nearly 400 million transactions on May 27, reflecting robust network activity. Additionally, Ripple’s ongoing engagement with the SEC regarding a potential XRP ETF has fueled optimism, with Standard Chartered projecting a climb to $8 by 2026.

Top Gainers & Losers Today

Among top gainers, DeXe (DEXE) is leading with soaring over 12% in the past 24 hours, followed by SPX6900 (SPX) and Zcash (ZEC) with 5% gains. On the losing side, Vaulta (A) is top of the list as it loses 5% today, closely followed by Hyperliquid (HYPE), Fartcoin (FARTCOIN) and Raydium (RAY), all with nearly 4% decline.