After breaking below an ascending moving average, XRP dropped to $2.24

Unfortunately, the cryptocurrency is entering a sustainable downtrend, and things might get even worse for the price in the foreseeable future.

After breaking below an ascending moving average, XRP dropped to $2.24, highlighting a rising momentum on the asset, but in the wrong direction for bulls. Unfortunately for the cryptocurrency, it’s entering a sustainable downtrend, and things might get even worse for the price in the foreseeable future.

It remains to be seen whether XRP can spark an immediate rebound from this range, as the 100 EMA has acted more as a pivoting point than a strong support in the past. If the current level holds, there is still potential for the market to swiftly recover toward $2.50-$2.55. But for a more substantial rally, XRP needs to recover from the previous local resistance at $2.72. Failure to break above this level could keep the asset in a consolidation phase, but a breakout might pave the way for a move toward $3.00.

XRP has the potential to quickly recover higher ground if it experiences an increase in buying pressure. Many investors might be surprised to learn that a short-term rally is possible considering the oversold conditions on the RSI.

A drop to $1.79, the 200 EMA, might occur if selling pressure continues and XRP loses support. This would hamper any possible recovery and keep short-term bearish control over XRP. While there is a possibility for a swift rebound, it largely depends on the market mood and whether buyers can maintain the $2.28-$2.30 support zone. That could cause XRP to recover far faster than most anticipate.

Ethereum faces pressure

Ethereum's price has dropped rapidly due to the strongest selling pressure it has faced in 18 months. At $2,428, ETH is down 2.53% over the past day, indicating a broader market sell-off. The recent surge in trading volume suggests that there might be further downside in the near term, and selling pressure remains evident.

This level of trading volume was last seen in August 2025 during a similar market-wide correction for ETH. The influx of sell orders has accelerated Ethereum's decline, causing it to break a brief upward trendline and fall below crucial support levels. As ETH struggles to stay above $2,400, concerns about a deeper correction are rising.

The moving averages of Ethereum indicate a bearish outlook. No significant recovery has been possible as the asset has remained below the 200-day EMA, which has acted as a strong resistance zone. A relief bounce for ETH might be on the horizon as the RSI has dropped to 34 and is approaching oversold territory, although the broader trend remains weak.

The next significant support is located between $2,200 and $2,100, and a decline toward this range is likely if ETH fails to hold above $2,400. A break below $2,000 would validate a prolonged downward trend and escalate losses. For Ethereum to recover, we might see a return to $2,750 if there is fresh interest from buyers in the cryptocurrency.

The 200 EMA at $3,000 would be breached, shifting the momentum back in favor of bulls - but that is still a long way off. With the rising selling pressure on Ethereum, the asset might experience a deeper correction than initially anticipated unless buyers intervene quickly.

Bitcoin sentiment shifting

Crucial support at $90,000 has been breached by Bitcoin, indicating a significant shift in market sentiment. At $87,527, Bitcoin is currently down 1.18% over the past day due to increased selling pressure pushing prices down. The breakdown of this crucial level puts the asset's near-term trajectory in the spotlight as there is still potential for further decline.

Now that Bitcoin has dropped below $90,000, attention turns to the next crucial support levels. The 200-day moving average, currently around $85,600, could provide the next line of defense. If Bitcoin fails to maintain this level, a deeper correction toward $80,000 might occur.

To prevent sustained bearish momentum, Bitcoin needs to quickly recover to $90,000. If Bitcoin manages to bounce back above $93,845, it could pave the way for a return to $98,000, indicating renewed strength. However, without a clear rebound, bearish sentiment might persist.

Bearish case: Bitcoin might fall further toward $80,000 or even $75,000 if it continues to lose ground and support at $85,600. A drop below $75,000 would indicate a deeper market correction, potentially extending losses to $70,000.

Bullish case: A relief rally might emerge if