🔻 XRP Drops Below 200-Day Average, Bitcoin Slips to $105K as Market Eyes Core PCE Report
The crypto market witnessed notable downside pressure today as XRP broke below its 200-day moving average, signaling bearish sentiment, while Bitcoin dipped to $105,000, sparking concerns among investors ahead of the Core PCE report — a key inflation metric watched by the Federal Reserve.
📉 XRP Technical Breakdown
XRP’s fall below the 200-day moving average is a significant bearish development. Historically, this moving average serves as a long-term trend indicator. A decisive break beneath it often implies a shift in market sentiment. With XRP unable to sustain above this key support, traders are now eyeing the $0.48 and $0.44 zones for potential stabilization.
🪙 Bitcoin Eyes Macroeconomic Triggers
Bitcoin’s retreat to the $105K mark comes amid increasing caution in global financial markets. Investors are closely watching the Core Personal Consumption Expenditures (PCE) data, which could influence the U.S. Federal Reserve’s next interest rate move. A hotter-than-expected print may lead to tighter monetary policy — typically bearish for risk assets like crypto.
📊 Market Sentiment and Outlook
With volatility picking up, market participants are showing signs of hesitation. The next 48 hours will be critical, as macroeconomic data could either validate current bearish pressure or provide a pivot point for recovery. Traders are advised to maintain tight stop-losses and wait for confirmed signals before entering new positions.