**Bitcoin Crashes Below $97,000, XRP Down 9%, ETH Plunges 11%**
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) traded in negative territory on Friday, extending the week’s losses as bearish sentiment continued to grip the cryptocurrency market. Bitcoin has fallen more than 5%, Ethereum over 10%, and XRP around 2% so far this week, with each facing strong technical resistance.
Bitcoin slipped below the $100,000 psychological level, signaling that bears remain in control. The leading cryptocurrency faced rejection at the 38.20% Fibonacci retracement level at $106,453, drawn from the April 7 low of $74,508 to the October 6 all-time high of $126,299. BTC has declined nearly 6% since Monday and is currently trading around $96,300.
If Bitcoin continues its correction and closes below support at $97,460, analysts see potential for further downside toward $95,000. The Relative Strength Index (RSI) sits at 35 — well below the neutral 50 — indicating mounting bearish pressure, while the Moving Average Convergence Divergence (MACD) shows a bearish crossover, reinforcing the sell signal. However, if BTC manages to stabilize, a recovery toward $106,453, the key Fibonacci resistance level, remains possible.
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**Ethereum Faces Rejection, Eyes Deeper Pullback**
Ethereum’s (ETH) correction intensified after the token faced rejection near its broken trendline resistance at $3,592 on Monday, dropping roughly 10% over three days. As of Friday, ETH trades around $3,200.
Should Ethereum close below the $3,170 support level, analysts anticipate a further decline toward $3,017, a major daily support zone. Both RSI and MACD indicators point to growing bearish momentum, suggesting that Ethereum’s downturn may not be over yet. If ETH manages to rebound, a recovery toward the 38.20% Fibonacci retracement level remains conceivable.
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**XRP Down Amid Market Weakness, ETF Debut Volume Impresses**
XRP declined approximately 9% amid the bearish momentum affecting the crypto sector. Despite the price drop, Canary Capital’s XRP ETF recorded an impressive $58 million in debut trading volume, signaling strong investor interest in XRP-based financial products.
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The recent price actions in Bitcoin, Ethereum, and Ripple reflect broader market uncertainties, with key technical levels under pressure. Traders and investors will be closely watching whether these support zones hold or if the bearish trend will deepen further in the coming days.
https://bitcoinethereumnews.com/bitcoin/bitcoin-crashes-below-97000-xrp-down-9-eth-plunges-11/