The crypto market continued slumping on Monday, with the fear and greed index slipping to 24. Bitcoin price plunged for four days, moving to a low of $82,000, while Ethereum tumbled to $1,800 and Ripple slipped to $1.05. This article looks at the top BTC, ETH, and XRP price predictions ahead of Donald Trump’s Liberation Day.
Trump’s Liberation Day Could Boost Crypto Prices
On theory, the upcoming Liberation Day will be bearish for stocks and the crypto market, which explains why they have tumbled. The Dow Jones futures crashed by 280 points, while the S&P 500 and Nasdaq 100 indices fell by more than 1%.
However, in practice, there is a likelihood that these assets will bounce back, as always happens when there is a major black swan event. For example, American equities embarked on a decade-long bull run after the Global Financial Crisis in 2008/9. Stocks and crypto also surged after the initial plunge following the COVID-19 pandemic.
These assets rebound because the Federal Reserve always focuses on the market and acts accordingly. The two rebounds happened after the Fed slashed interest rates to zero and launched the controversial quantitative easing policy.
The same may happen this year if evidence shows that the US is approaching a recession. Besides, recent data shows consumer confidence has tumbled while business investment is slowing.
Further, from a fundamental perspective, BTC, ETH, and XRP prices have crashed ahead of the Liberation Day. As such, these assets may rebound when it happens since market participants have priced in the tariffs.
XRP Price Prediction
The daily chart reveals that the XRP price remains under pressure this week, and is approaching the key point at $1.9035. This is a crucial level since it is at the 50% Fibonacci Retracement point. It is also the neckline of the H&S pattern.
Worse, the coin is about to form a death cross pattern as the spread between the 50-day and 200-day Weighted Moving Averages (WMA) has narrowed. More downside will be confirmed if the Ripple price plunges below the support at $1.9035. A move below that level risks the XRP price crashing to $1. A move above the 50-day moving average at $2.34 will invalidate the Ripple forecast.
BTC Price Technical Analysis
The BTC price has crashed in the past few months. Bitcoin has crashed in the past few days, moving below the lower side of the rising wedge pattern. It has also formed a death cross pattern, and is nearing the 50% retracement point.
The BTC price has moved below the Ichimoku Kinko Hyo cloud and the major S/R pivot point of the Murrey Math Lines. Therefore, Bitcoin price will likely crash to the ultimate support at $75,000.
ETH Price Technical Analysis
The ETH price has remained under pressure in the past few months. It has dropped and retested the key point at $2,113, a notable level since it was the neckline of the triple-top pattern. A break-and-retest pattern is a popular bearish continuation sign.
Therefore, the most likely ETH price prediction is where it drops to the ultimate support at $1,250, down by 30% below the current level. This view will become invalid if the coin rises above $2,113.
Crypto Market to Rebound After this Sell-Off
This BTC, ETH, and XRP price prediction shows that these coins have more downside in the near term. These coins will then bounce back after the fear zone ends, and as the Trump administration starts negotiating with other countries.
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