Bitcoin
Bitcoin (BTC)
$65,016.00 2.24071
Bitcoin price
Ethereum
Ethereum (ETH)
$3,460.86 1.78829
Ethereum price
BNB
BNB (BNB)
$576.68 1.23965
BNB price
Solana
Solana (SOL)
$160.96 3.38881
Solana price
XRP
XRP (XRP)
$0.6103020 7.26588
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000193 1.73959
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000120 1.5445
Pepe price
Bonk
Bonk (BONK)
$0.0000278 4.81315
Bonk price
Bitcoin
Bitcoin (BTC)
$65,016.00 2.24071
Bitcoin price
Ethereum
Ethereum (ETH)
$3,460.86 1.78829
Ethereum price
BNB
BNB (BNB)
$576.68 1.23965
BNB price
Solana
Solana (SOL)
$160.96 3.38881
Solana price
XRP
XRP (XRP)
$0.6103020 7.26588
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000193 1.73959
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000120 1.5445
Pepe price
Bonk
Bonk (BONK)
$0.0000278 4.81315
Bonk price
Bitcoin
Bitcoin (BTC)
$65,016.00 2.24071
Bitcoin price
Ethereum
Ethereum (ETH)
$3,460.86 1.78829
Ethereum price
BNB
BNB (BNB)
$576.68 1.23965
BNB price
Solana
Solana (SOL)
$160.96 3.38881
Solana price
XRP
XRP (XRP)
$0.6103020 7.26588
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000193 1.73959
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000120 1.5445
Pepe price
Bonk
Bonk (BONK)
$0.0000278 4.81315
Bonk price
Bitcoin
Bitcoin (BTC)
$65,016.00 2.24071
Bitcoin price
Ethereum
Ethereum (ETH)
$3,460.86 1.78829
Ethereum price
BNB
BNB (BNB)
$576.68 1.23965
BNB price
Solana
Solana (SOL)
$160.96 3.38881
Solana price
XRP
XRP (XRP)
$0.6103020 7.26588
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000193 1.73959
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000120 1.5445
Pepe price
Bonk
Bonk (BONK)
$0.0000278 4.81315
Bonk price

Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn

red-alert-bitcoin-ethereum-xrp-and-altcoins-bracing-for-weekend-downturn
Edited by
News
Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn

Bitcoin (BTC), ethereum (ETH), ripple (XRP), and other top 10 coins by market cap are down, sliding from recent peaks. Coins may post even more losses over the weekend.

Cryptocurrency prices are struggling to regain momentum as the market grapples with several challenges, such as diminished liquidity, increased regulatory scrutiny in the United States, and macroeconomic headwinds.

Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn - 1
Cryptocurrency prices by market cap | Source: CoinGecko

Bitcoin

As the crypto market heads for a looming downturn, bitcoin experienced a dip below the $27,000 threshold on May 11 at approximately 5 a.m. ET, trading at $26,312.23, the lowest level since March 17. At time of writing, BTC sits at $26,452.83.

Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn - 2
Bitcoin price chart | Source: CoinGecko

Bitcoin prices are declining due to decreased liquidity, congestion on the Bitcoin blockchain, and increased regulatory scrutiny in the US, leading to negative sentiment in the crypto sector.

Furthermore, the dwindling correlation between bitcoin and stocks suggests a reduced impact of macroeconomic factors on digital assets compared to the broader global markets.

Ethereum

Ethereum, the second-largest cryptocurrency in the market, has also experienced a decline in price, dropping by 2.7% within the past 24 hours and 7.1% in the last week. The cryptocurrency is currently trading at $1,772 

Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn - 3
Ethereum price chart | Source: CoinGecko

The key support level at $1,800 has now transformed into a resistance level, indicating a significant structural change, as part of a broader sell-off across the crypto market, with various altcoins also being affected by the prevailing bearish sentiment.

Ripple

Ripple’s downward trajectory gained momentum this week, resulting in a substantial 6.6% decline in its valuation this week. XRP now sits at $0.429.

Looking ahead, it appears sellers have taken the reins, and the prevailing scenario indicates a greater likelihood of XRP’s price descending further towards the support at 40 cents.

Red alert: bitcoin, ethereum, XRP, and altcoins bracing for weekend downturn - 4
XRP price chart | Source: CoinGecko

This decline came in spite of Ripple releasing a report highlighting the significance of central bank digital currencies (CBDCs) and emphasizing the prominent role that Ripple, the blockchain company; along with XRP, is poised to assume in the future economy.

As the weekend approaches, traders should prepare themselves for a potential downturn, as prominent cryptocurrencies like cardano (ADA), dogecoin (DOGE), solana (SOL) and polygon (MATIC) are experiencing declines ranging from 5% to 14%, signaling a wider market trend.