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XRP Drops 3% as Selling Pressure Overwhelms Support Level

XRP XRP tumbled 2.71% over the past 24 hours, continuing its downward spiral as selling pressure outweighed buyer interest.
The token now trades at $2.20 after breaking below key support levels, forming a descending channel pattern that has defined recent price action. A significant volume spike of 1.2 million units preceded the breakdown, signaling traders’ rush to exit positions as market sentiment soured.
XRP’s market cap shed $6 billion during the session, with weekly losses totaling 9.11%, reflecting a broader struggle to maintain momentum amid global market volatility.
News Background
- Ripple’s XRP continues to be shaped by a mix of fundamental developments and technical factors.
- Ripple recently emphasized its strategy to integrate with traditional finance rather than replace it entirely, highlighting projects like RLUSD (Ripple’s new stablecoin) and its acquisition of Hidden Road as infrastructure plays that could strengthen XRP’s role in cross-border payments.
- Meanwhile, Ripple’s ongoing work with UAE regulators on tokenized real estate demonstrates its commitment to global expansion.
- On Wednesday, China-based Webus filed with the SEC detailing plans of a $300 million fundraise with a major portion dedicated to establishing an XRP strategic reserve.
Price-Action
CoinDesk Research’s technical analysis model shows strong resistance at the $2.265-$2.270 zone, with multiple failed breakout attempts and above-average volume confirming sellers’ dominance.
Support has emerged in the $2.10-$2.15 range, but weakening momentum suggests this level could be tested further if selling persists.
Despite the bearish backdrop, some analysts point to potential bullish signals. A possible double bottom pattern formed as price rebounded to $2.208 on increasing volume, indicating that short-term accumulation may be underway.
Open interest has surged past $4 billion, hinting at heightened market liquidity and the potential for a short squeeze if sentiment shifts. However, caution remains warranted as the inverted V-shaped pattern on XRP’s daily chart underscores the recent shift from buying enthusiasm to aggressive selling pressure.
Technical Analysis Recap
- XRP fell 2.71% from a high of $2.269 to a low of $2.190 over the past 24 hours.
- Price action formed a descending channel, reflecting persistent bearish momentum.
- Resistance at $2.265-$2.270 confirmed by multiple rejections on above-average volume.
- Support established at $2.202-$2.205, but momentum suggests vulnerability at this level.
- A breakdown below $2.204-$2.206 at 01:48 was accompanied by increased volume (399K+).
- A potential double bottom formed as price rebounded to $2.208 with volume increasing to 446K.
Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Bitcoin Holds Above $105K Despite Donald Trump’s Threats Against Elon Musk

Bitcoin BTC held firm above $105,000 on Saturday despite an unusually combative and personal escalation in the Trump-Musk feud that could rattle traditional markets next week.
On Saturday, in a phone interview with NBC News, President Trump warned that there would be “serious consequences” if Elon Musk financially backed Democratic candidates running against Republicans who support the GOP’s budget bill. “If he does, he’ll have to pay the consequences for that,” Trump said, adding later, “He’ll have to pay very serious consequences if he does that.”
Trump, who has often boasted of past support from Musk, firmly dismissed the idea of mending ties. “No,” he said when asked whether he wished to repair the relationship. “I would assume so, yeah,” he added when asked if the rift was permanent.
Despite the intensifying feud between two of the most influential figures in U.S. politics and technology, Bitcoin remained unfazed. The cryptocurrency held onto earlier gains and continues to trade near weekly highs. The market’s composure suggests that traders may increasingly view BTC as a hedge against institutional dysfunction, or at least as an asset insulated from the partisan fallout that tends to impact equities more directly.
Technical Analysis Highlights
- BTC traded in a 24-hour range of $1,162 (1.13%), from a low of $104,624 to a high of $105,786, according to CoinDesk Research’s technical analysis model.
- Strong support formed at $104,800, where above-average volume confirmed buyer interest.
- Resistance at $105,200 was broken and has since flipped into a short-term support zone.
- Volume peaked at 378 BTC during key breakout moments, especially around 13:43–13:46 and 13:53.
- A short consolidation occurred between $104,300–$104,600 before the final surge to near highs.
- An ascending price channel remains intact, showing bullish structure despite intermittent pullbacks.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Ether Holds Steady Above $2,500 as ETF Demand Signals Institutional Confidence

Ether ETH has rebounded firmly from key support near $2,460, recovering losses and stabilizing above the $2,500 threshold amid broader market volatility.
The rally follows a higher low formation backed by above-average volume, signaling growing market confidence.
Institutional participation appears to be reinforcing the trend, with BlackRock’s ETHA ETF reporting $492 million in net inflows last week.
Total holdings now exceed $4.84 billion, reinforcing long-term bullish sentiment even as price action remains sensitive to geopolitical developments.
Traders are watching to see if ETH can challenge resistance in the $2,520–$2,530 range.
Technical Analysis Highlights
- ETH traded within a $72 range over 24 hours, from a low of $2,460.35 to a high of $2,532.41.
- A key support zone formed at $2,460–$2,470, where ETH bounced on strong volume during midnight hours.
- Final hour surge reached $2,515.11, backed by 5,919 ETH in volume.
- Higher low structure established with interim support at $2,485 and resistance at $2,503.
- Final retracement held support at $2,507, with price consolidating around $2,510 into the close.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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Coinbase, BiT Global End Legal Fight Over WBTC Delisting

Coinbase and BiT Global have reached a legal settlement that ended their dispute over the delisting of BiT Global’s wrapped bitcoin (wBTC) token on Coinbase.
According to a joint court filing, BiT Global has agreed to dismiss its lawsuit against the crypto exchange with prejudice, meaning the case cannot be brought again in the future. The filing notes that both companies will cover their own legal expenses.
BiT Global had filed the lawsuit last year in the Northern District of California after Coinbase delisted the token over what it said was “unacceptable risk” that the tokenized BTC would “fall into the hands of Justin Sun.”
Sun became affiliated with wBTC in August last year through a partnership, prompting Coinbase to question BiT Global about his role. Sun, a Chinese-born crypto billionaire, has nevertheless been supporting the token, with World Liberty Financial dropping its cbBTC for wBTC after he joined as an advisor.
The suit alleged the exchange’s decision was unjustified and harmed the token’s liquidity and reputation while favoring Coinbase’s competing asset cbBTC. Coinbase launched cbBTC just two months before announcing it was delisting wBTC.
The dismissal does not disclose any settlement terms beyond the cost arrangement.
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