LONDON (IT BOLTWISE) – Cryptocurrencies XRP and Bitcoin are at crucial support levels that could determine future market developments. While XRP is fighting for the $2 mark, Bitcoin is at risk of falling below $80,000 if its support zone is broken. At the same time, the Nasdaq is showing signs of possible weakness, further adding to the uncertainty in the markets.
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The cryptocurrency XRP, which is closely linked to Ripple, is currently under significant pressure. The price fell more than 6% this week and is approaching the critical $2 mark. This mark has proven to be a zone where selling pressure is easing since December last year. However, if this support breaks, disappointed investors could liquidate their positions, which could lead to further price declines.
Bitcoin, the leading cryptocurrency, is also at a crucial point. Price is moving near a key support zone defined by an uptrend line, the 100-week SMA and the 38.2% Fibonacci retracement. A break of this zone could shift focus to April lows around $74,500. Some traders are already preparing for a Bitcoin price below $80,000 in the early days of 2026.
The Nasdaq index is also showing signs of weakness. A classic “Hanging Man” candlestick pattern on the monthly chart indicates a possible trend change. This formation, which occurs at record highs, warns of a possible reversal or a break in the uptrend. Since Bitcoin and technology stocks often move in lockstep, this could also have an impact on the crypto market.
Overall, investors face an uncertain future. The possibility of a so-called Santa rally, which many bulls in the technology and crypto sectors are hoping for, may not happen this year. Markets are tense and the coming weeks could be crucial for the future performance of XRP, Bitcoin and the Nasdaq.
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