What To Know:
- Bitcoin, Ethereum, and XRP fell to multi-month lows, posting double-digit weekly losses and erasing gains made after Trump’s November 2024 election win.
- RSI and MACD indicators across BTC, ETH, and XRP point to oversold conditions and continued downside risk, with key support levels now in focus.
- Rising geopolitical tensions and a stronger tilt toward safe-haven assets like gold have weighed on risk appetite, dragging the broader crypto market lower.
Bitcoin, Ethereum, and Ripple slid sharply on Friday to multi-month lows, wiping out gains made after Donald Trump’s election victory in November 2024. The sell-off was broad, persistent, and heavy, with brief instances of immediate relief.
Bitcoin dropped to around $60,000, a level last seen in mid-October 2024. Ethereum fell to roughly $1,750, its weakest point since early May 2025. XRP declined to $1.11, matching prices last recorded in early November 2024. All three assets posted double-digit weekly losses, seemingly showing the depth of the downturn.
Bitcoin, Ethereum, Ripple Fall to Multi-Month Lows
Bitcoin has lost more than 15% this week, following an 11% drop the week before. The move marked one of its slowest short-term corrections in recent months. By Friday, selling pressure had driven BTC firmly below several key technical levels.
Technical indicators continue to reflect stress. Bitcoin’s Relative Strength Index on the daily chart hovered near 20, and hinted at deeply oversold conditions and strong bearish momentum. The Moving Average Convergence Divergence indicator has remained negative since a bearish crossover in January, with red histogram bars expanding below neutral levels. Analysts say these signals point to ongoing downside risk.
If selling continues, Bitcoin could test its next major support around $54,800 on the weekly chart. That level has previously attracted buyers, even as confidence remains fragile. After such a sharp decline, some traders expect consolidation rather than an immediate bounce. In that scenario, Bitcoin may trade in a wide range between $60,000 and $70,000.
Ethereum mirrored Bitcoin’s weakness. The second-largest cryptocurrency fell more than 15% over the week, touching a low near $1,747. That price marked its lowest level since May 6, 2025. The decline erased weeks of gradual gains and brought renewed focus to downside risk.
Ethereum’s technical picture remains heavy. Both RSI and MACD indicators on the daily chart signal sustained bearish pressure. If the slide extends, ETH could move toward its next support near $1,669. Market participants are watching that zone closely. Similar to Bitcoin, consolidation appears more likely than a rapid recovery, with ETH potentially stabilizing between $1,700 and $2,100.
XRP faced the steepest losses among the three. However, the token price tumbled over 20% this week as selling escalated across the altcoin market overall. Prices fell Friday to $1.11 after a short pop following Ripple Protocol’s tie into Hyperliquid. XRP momentum gauges mirror the overall market. Both RSI and MACD readings imply ongoing bearish pressure persists. And if downticks continued, traders recognize the $1 level as the psychological target for their next place to look.
Price action might end in a range between $1.11 and $1.45 soon, post a sharp correction. The downturn was a big drag on the broader market. The overall cryptocurrency market capitalization fell roughly 6.4% in the past 24 hours to about $2.33 trillion. Macroeconomic and geopolitical headwinds weighed on risk appetite.
Geopolitical tensions have resurfaced as a macro factor in the current market slump. US-Iran nuclear talks resumed in Oman with mediation from several countries. Progress has been limited. Strong warnings from former President Donald Trump and visible gaps between negotiating positions reduced expectations for a quick resolution. These developments have contributed to volatility in oil markets and boosted demand for traditional safe havens.
Goldman Sachs highlighted a shift in longer-term positioning toward gold. The bank noted that higher allocations are being driven mainly by Western capital flows and central bank reserve diversification. Short-term trading plays a smaller role. Amid currency uncertainty and geopolitical risks, hedging demand continues to shape investor behavior.
