Crypto Today: Bitcoin, Ethereum and XRP selling pressure eases following Binance security breach

• Support at $78,000 tempers Bitcoin’s retreat following the $6.3 billion hack at Binance.
• Near $2,200, Ethereum remains under selling pressure as momentum indicators trend lower.
• After a test of $1.20 support, XRP buyers return, although structural resistance could constrain the rebound.

A reported hack affecting about $6.3 billion at Binance, the largest crypto exchange, has left cryptocurrency prices unsettled on Friday. Bitcoin (BTC) is barely maintaining short-term support at $78,000, while Ethereum (ETH) slips towards $2,200 and Ripple (XRP) seeks to rebound above the support established at $1.20.

Derivatives liquidations totalled $1.5 billion over 24 hours as the broader cryptocurrency market appeared to buckle under pressure from the reaction.

Binance prepares to cover losses through SAFU as asset freezes continue

With the security breach reportedly affecting roughly $6.3 billion, Binance temporarily halted deposits and withdrawals to give it time to conduct an internal investigation and review.

According to Binance, a DevOps engineer’s laptop may have been compromised in the incident. This may have given the attacker access to a container service through which unauthorised withdrawal transactions were submitted.

In a post on X, Binance said: “We have found no evidence of any wallet private key leak”, adding: “We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.”

Approximately $3 billion is being frozen on-chain through Binance’s work with blockchain partners, including Tether, Circle and Ripple, according to updates from the exchange.

User assets remain safe, Binance has stressed, with all losses to be covered by its Secure Asset Fund for Users (SAFU) programme alongside the company’s own assets.

Beyond halting withdrawals and deposits, Binance revoked authorisation for the affected address. It also worked with law enforcement and blockchain partners to trace and recover the funds.

In an update on X, Binance said: “This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it. We are still gathering the facts, and will share more directly as we have them,”

As the industry matures, cryptocurrency-related scams and fraud remain a significant challenge. ‘The Chainalysis 2026 Crypto Crime Report’ records an annual increase of 162%, with cryptocurrency scams stealing $14 billion on-chain and AI-enabled schemes rising 1,400% annually.

Technical analysis: Bitcoin defends lower support levels

At $78,012, Bitcoin remains below its 50-day Exponential Moving Average (EMA) of $80,608, leaving the near-term outlook bearish. However, it continues to trade above a closely grouped support area comprising the 100-day EMA at $77,825 and the longer-term 200-day EMA at $76,455. This suggests that the broader uptrend remains intact, albeit under pressure.

At $84,056, the SuperTrend indicator stands well above the spot price as a level to reclaim, highlighting substantial overhead supply on attempts to advance. Meanwhile, a Relative Strength Index (RSI) reading near 36 points to continued downward pressure, in keeping with the negative Moving Average Convergence Divergence (MACD) reading.

A daily close above the first resistance level, the 50-day EMA at 80,608, would be required to temper the bearish outlook and clear a path towards the SuperTrend line at $84,056. Immediate support, meanwhile, is provided by the 100-day EMA at $77,825, ahead of more substantial structural demand around the 200-day EMA at $76,455. Were that latter level to give way, the broader technical outlook would deteriorate markedly, leaving scope for deeper retracements.

Technical analysis: Ethereum weakens as selling pressure builds

Having broken below its rising trendline, Ethereum is trading at $2,231 and extending its bearish phase beneath a tight cluster of moving averages. The 200-day EMA at $2,316, 100-day EMA at $2,358 and 50-day EMA at $2,435 all stand above the price. Together, they indicate that the broader trend remains under pressure despite the recent retreat from higher levels.

The momentum picture also favours the downside. The RSI has fallen into oversold territory near 29, while the MACD lies below both zero and its signal line; a broadly negative histogram further suggests a persistent bearish bias.

The 200-day EMA around $2,316 offers the first resistance, just ahead of the former trendline break level near $2,320, where a corrective bounce could allow sellers to regain control. Further up, successive obstacles lie at the 100-day EMA of $2,358 and the 50-day EMA of $2,435, followed by a more substantial supply zone around the SuperTrend line at $2,487. The daily chart identifies no nearby structural support below the current price. The pair would therefore probably need to regain at least the 200-day EMA cluster to relieve immediate bearish pressure and create scope for a more lasting recovery.

Technical analysis: XRP attracts buyers at $1.20

A modest rebound from near-term support at $1.25 has left XRP trading at $1.25. Even with this demand area, the near-term outlook remains bearish, as the pair sits well below its principal EMAs and the SuperTrend line. Overhead, the 100-day EMA at $1.33, 50-day EMA at $1.35 and 200-day EMA at $1.37 form a series of technical barriers that appear to be capping the pair. The SuperTrend reading of $1.41 further underlines the broader bearish structure.

Selling pressure appears persistent, though not yet at oversold extremes: the RSI is hovering around 37, while the MACD remains below zero and is turning down again, reflecting weak momentum.

The first obstacle is the 100-day EMA near $1.33, ahead of the 50-day EMA around $1.35 and the 200-day EMA at $1.37. Without a sustained break driven by buyers, a recovery would probably stall at these levels. Higher still, the SuperTrend at $1.41 and the broader descending resistance trendline form a firmer ceiling. Regaining these levels would be necessary to soften the bearish outlook and pave the way for a more substantial rebound.

(The technical analysis of this story was written with the help of an AI tool. Know more.)