XRP has dropped back to around $1.05 after losing the $1.30 support area, extending a bearish structure that has been in place for months. On the daily chart, the asset has broken down from a descending triangle that formed since March, a pattern often associated with continuation of the prior downtrend. XRP is also still trading below its 50-day, 100-day, and 200-day moving averages, leaving the broader technical picture weak.
XRP remains below key averages as $1.51 becomes the first recovery hurdle
The article points to the 200-day moving average near $1.51 as a level XRP would need to reclaim for a more meaningful technical recovery. Volume behavior has not favored buyers. Selling waves have produced stronger spikes in activity, while rebound attempts have been limited and lacked follow-through. In that setup, the move from below $1.30 toward the $1.05 area is being treated as confirmation that the prevailing downward trend is still intact.
One technical reading offering some relief is the Relative Strength Index. XRP’s RSI is approaching 35, which puts it close to oversold territory. That can leave room for a short bounce. It does not, by itself, signal a durable reversal, especially while price remains under longer-term moving averages.
Bitcoin tests $57,000-$58,000 with $52,000 as the next major support
Bitcoin is facing a similar setup. After failing to hold above major moving averages in May, the asset broke lower from the rising channel seen between April and May. What first looked like a temporary correction quickly turned into another leg down as sellers regained control. The reported moving-average structure remains weak, with the 50-day, 100-day, and 200-day averages below $63,000, $68,000, and $76,000.
Market attention is now fixed on the $57,000 to $58,000 range. If Bitcoin breaks decisively below that zone, the next historically significant support cited in the article is $52,000. Bitcoin’s RSI is also near 35, which keeps the possibility of a short-term rebound alive, but the source notes that such signals often carry limited weight once a downtrend is already established. Volume trends add to the pressure, with heavier spikes on selling days than on rallies.
Ethereum holds near $1,600 while $1,690 marks the first resistance
Ethereum has settled near $1,600 after a failed rebound attempt and a break below a descending wedge formed from April to May. That move reinforced bearish momentum and pushed ETH back toward local lows. Like XRP and Bitcoin, Ethereum remains below its 50-day, 100-day, and 200-day moving averages, keeping the technical outlook under pressure.
The source places Ethereum’s 50-day moving average around $1,690, making it the first nearby resistance. Additional upside barriers are listed at $1,850 and $2,280. At the same time, the report notes that buyers have shown some activity near support during sharper drops, and trading volume has not disappeared. Ethereum’s RSI is hovering near 38, a sign of ongoing weakness without a full capitulation signal.