Main focus keyword: XRP

XRP has demonstrated resilience in the crypto market, maintaining its position above key technical levels as Bitcoin shows signs of weakness. In the last 24 hours, Bitcoin (BTC) fell below the 100-day simple moving average (SMA), a significant bearish signal comparable to a similar drop seen earlier this year. Meanwhile, major altcoins like XRP, Ether (ETH), and Solana (SOL) have held their ground, creating a potential window for outperformance.

Bitcoin’s Technical Breakdown

The leading cryptocurrency, Bitcoin, recorded a decline of over 1% in just one day, dipping to a low near $109,172. This move marked Bitcoin’s first fall below its 100-day SMA since April 22—a closely tracked indicator that often acts as support or resistance.

Adding to the bearish sentiment, BTC has also slipped beneath the Ichimoku cloud, a key momentum indicator that often signals trend direction. Both these factors—dropping below the 100-day SMA and the Ichimoku cloud—suggest a shift toward a more pronounced bearish trend.

This latest move also follows a break below an upward-sloping trendline from earlier in the year, aligning with multiple consecutive negative readings on the longer-term MACD histogram. Collectively, these technical indicators resemble the breakdown experienced in February, which preceded a sharp fall toward $75,000.

Bitcoin daily chart showing a break beneath the 100-day SMA and Ichimoku cloud. (TradingView/CoinDesk)

Analysts are now eyeing the $105,390 level, representing the 38.2% Fibonacci retracement from the April-to-July rally. Below that lies the 200-day SMA, currently at $100,928. Bulls would need to push Bitcoin above the August 22 high of $117,416 to counteract the prevailing bearish configuration.

• Resistance Levels: $111,592, $117,416, $120,000
• Support Levels: $105,390, $100,928, $100,000

Resilience in XRP, ETH, and SOL

Amid Bitcoin’s decline, XRP has managed to stay above its 100-day SMA. While this is a positive signal, the token currently trades within the Ichimoku cloud, indicating a period of market indecision. This zone is typically viewed as neutral territory, where neither buyers nor sellers have a clear upper hand, resulting in sideways momentum.

Similarly, both Ether and Solana are maintaining their positions above their respective 100-day SMAs and remain securely above the Ichimoku cloud. This stability opens up potential opportunities for ETH and SOL to outperform BTC and XRP, particularly if a broader market risk-on environment develops.

Charts showing ETH, SOL, and XRP maintaining strength against BTC’s decline. (TradingView/CoinDesk)

Related: XRP Price: $12M Max Pain for Bears

These developments come as investors brace for the expiration of $14.6 billion in Bitcoin and Ether options, which may further influence short-term market direction. For a deeper analysis, read this detailed breakdown: Massive $14.6B Bitcoin and Ether Options Expiry Shows Bias for Bitcoin Protection.