XRP Drops 4% While Bitcoin Faces Resistance at $105,000
XRP declined over 4% in the last 24 hours, leading losses among major cryptocurrencies. The crypto market's total capitalization fell 2% to $3.3 trillion. Key points include:
- Bitcoin remains above $104,000, with resistance at $105,000.
- Ethereum and Solana are near their 200-day moving averages, indicating potential consolidation or a pullback.
- The Crypto Fear & Greed Index dropped from 73 to 70, suggesting fading momentum.
- Market analysts predict Bitcoin may face challenges at the $105,000 level.
- Improving inflows into altcoins could benefit Ethereum in the near term.
- Macro trends show investors rotating towards crypto as a hedge against geopolitical risks.
- Recent demand for BTC is attributed to spot market activity rather than excessive leverage.
- Concerns exist regarding upcoming macroeconomic data and trade deal impacts on long-term growth.
Markets await a decisive move to determine future direction.