What to Know:
- XRP shows potential for a 25% recovery by year-end, signaling a possible end to its recent downswing.
- Bitcoin experienced a dip against the euro, briefly falling below €80,000 before buyers stepped in.
- A dormant Cardano holder suffered a significant loss, highlighting the risks of illiquid routing in crypto transactions.
XRP is showing promising signs of a potential recovery as it touched a critical lower Bollinger Band on the weekly chart. Bitcoin found support after hitting a seven-month low against the euro, while a Cardano investor faced a costly lesson in liquidity. These events set the stage for a week of cautious optimism in the crypto market.
XRP’s recent performance suggests a possible end to its downswing that began in October. The cryptocurrency stabilized near $2.21-$2.26 after hitting the lower band, indicating that sellers may have lost control. If the lower band holds, XRP could see a path toward the midband at $2.81, representing a 25% upside.
Bitcoin’s dip below €80,000 marked a seven-month low against the euro, but buyers quickly reacted, triggering a 1.58% bounce back to €82,300. This rebound demonstrates that liquidity still exists at these levels, and the euro pair continues to be a reliable sentiment gauge for the market. Bitcoin now sits on the edge of a support zone, and traders are closely watching weekly closes to determine the next move.
Cardano witnessed a dramatic event as a dormant wallet liquidated a substantial amount of ADA, resulting in an 88% loss. The investor swapped 14.45 million ADA for USDA, but the illiquidity of the route caused a price dislocation. This highlights the structural limits of low-liquidity segments within even top-tier blockchain ecosystems.
As the market heads into the new week, Bitcoin is absorbing pressure around $95,000, while Ethereum mirrors its movements. XRP, however, carries a clean technical catalyst thanks to its Bollinger Band setup, offering a defined upside window. Investors should remain vigilant and informed, recognizing that liquidity and market structure play crucial roles in navigating the crypto landscape.
Source: Original article
