Top 3 Price Predictions: Can Bitcoin, Ethereum, Ripple withstand renewed selling as key technical barriers and regulatory fears weigh on sentiment?

A bearish bias persists for Bitcoin, which trades at $76,154 on Friday following a close below the 200-day EMA around $76,497.
Downside risks remain elevated for Ethereum as it trades at $2,237 following a rejection at the previously breached ascending trendline.
Key EMA resistance continues to cap XRP, which trades at $1.22 after failing to secure a close above it.

Fresh selling pressure has weighed on Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) in the second half of this week. The weakness comes amid concerns that Democrats' control of both chambers of the US Congress could bring stricter regulations for crypto and Artificial Intelligence (AI).

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Key resistance zones continue to hold back these top three cryptocurrencies. BTC has closed beneath its 200-day Exponential Moving Average (EMA), while rejections at important resistance levels for ETH and XRP also point to the possibility of a deeper correction.

Could Bitcoin extend losses after closing below the 200-day EMA?

The near-term outlook for Bitcoin remains bearish as its correction continues beneath key Exponential Moving Averages (EMAs), with the price at $76,157 on Friday.

Above BTC, the 200-day EMA at $76,497, the 100-day EMA at $77,778 and the 50-day EMA at $79,837 form successive barriers. This close grouping of medium- and longer-term trend resistance suggests limited room for an advance.

Momentum indicators reinforce the weak tone. The Relative Strength Index (RSI) is hovering in the upper-30s, while a negative Moving Average Convergence Divergence (MACD) suggests that renewed selling could undermine rallies.

Any recovery would first encounter the 200-day EMA near $76,497, before facing the 100-day EMA at $77,778. Beyond these levels, the 50-day EMA at $79,837 marks another supply barrier, followed by horizontal resistance around $85,000. The immediate data set offers no clearly established support levels, so a further decline would likely look for a fresh floor below the spot price. Recovery attempts, meanwhile, are likely to face difficulty while BTC remains below this cluster of moving averages.

Could Ethereum face a deeper correction?

A bearish near-term bias continues to weigh on Ethereum as its corrective phase keeps the price below major EMAs. ETH trades at $2,237 on Friday, beneath the 200-day EMA at $2,315 and the 100-day EMA at $2,348. With the 50-day EMA higher at $2,397, successive layers of trend resistance appear to be limiting rallies.

Weak momentum is reflected in an RSI near 39. Although the MACD has turned marginally positive, attempts to move higher still appear to be contending with prevailing overhead supply.

For a recovery, the first hurdle is the 200-day EMA at $2,315, ahead of the 100-day EMA at $2,348. The next resistance cluster comprises the 50-day EMA at $2,397 and a horizontal barrier at $2,400, followed by the broken rising trendline near $2,412. A sustained break above this group of levels would soften the current bearish bias and clear a path towards the next key obstacle at $2,770.

Immediate support on a decline lies broadly around the current price zone. A stronger structural floor stands at $1,823; a breach there would leave Ethereum exposed to further losses within the broader correction.

Are XRP bears still in control?

The near-term bias for XRP remains bearish, with Friday's price of $1.221 below the cluster of 50-day, 100-day and 200-day Exponential Moving Averages (EMAs) between $1.320 and $1.375.

The upper boundary of the falling channel, currently projected near $1.257, has also proved beyond XRP's reach. Momentum offers little encouragement: the RSI is around 38 and the MACD indicator is marginally negative near the zero line. Together, these readings suggest restricted upside rather than a convincing recovery.

A move higher would initially face the upper channel trendline around $1.257, followed by horizontal resistance at $1.300. The 100-day EMA at $1.320 and the 50-day EMA at $1.326 create a stronger overhead supply zone. Beyond that, medium-term obstacles lie at the 200-day EMA of $1.375 and the subsequent horizontal levels of $1.540 and $1.900.

On a decline, the first support level is the horizontal line at $1.160, followed by a firmer floor at $1.000. While XRP stays below the moving-average cluster, rebounds towards resistance are likely to be regarded as corrective moves within the broader bearish trend.

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

What drives cryptocurrency prices? FAQs

What impact do new token launches and exchange listings have on cryptocurrency prices?

Demand and adoption among market participants are influenced by token launches. When an asset is listed on a crypto exchange, its liquidity deepens and more participants join its network. These developments are generally positive for a digital asset's price.

Why can hacks move cryptocurrency prices?

During a hack, an attacker uses exploits, bugs or other methods to seize a large quantity of an asset from a DeFi bridge, an exchange's hot wallet or another crypto platform. The stolen tokens are then moved out of exchange platforms, with the eventual aim of selling them or swapping them for other cryptocurrencies or stablecoins. Widespread panic often accompanies such incidents, triggering a sell-off in the affected assets.

Through what channels do macroeconomic data and events influence cryptocurrency prices?

The effect of macroeconomic events on crypto assets comes mainly through their direct influence on the US Dollar. Interest-rate decisions by the US Federal Reserve are one such example. Higher interest rates usually weigh on Bitcoin and altcoin prices, while lower rates tend to have the opposite effect. A decline in the US Dollar index makes risk assets and the associated trading leverage cheaper, thereby pushing crypto prices higher.

What effect do major upgrades such as halvings and hard forks have on cryptocurrency prices?

By cutting miners' block rewards in half, halvings restrict an asset's supply and are therefore generally viewed as bullish events. If demand remains unchanged as supply falls, the asset's price rises.