The cryptocurrency market is experiencing a significant downturn today, with a 6.73% drop and over $28 billion in liquidations. This pullback is one of the sharpest since the U.S. election in 2024, impacting major cryptocurrencies like Bitcoin, Ethereum, and XRP.

Bitcoin has fallen below the $100,000 mark, marking its lowest point since mid-January. The price is showing increased volatility, and while it could regain momentum and recover, there's a risk it might dip further, possibly reaching a low of $92,000 in the near term.

Ethereum has also faced a correction of 8.31%, failing to hold its crucial support level of $3,100. This decline suggests weakening investor interest, and if the bearish trend continues, the price could fall to a new multi-month low. However, a bullish reversal could see it push back toward $3,300.

XRP has dropped sharply, losing 10.08% and breaking its important support level of $3. With increased trading volume signaling rising uncertainty, the price could fall to $2.50 if the negative trend persists, though a recovery could push it back over the $3 mark.

In summary, the market is under heavy pressure right now, and if bearish sentiment prevails, these cryptocurrencies could see further declines.

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