Cryptocurrency Markets Experience Downturn Post-Bitcoin Halving: Ethereum and Solana Struggle, XRP Faces Volatility

Cryptocurrency markets have hit a rough patch following the recent Bitcoin halving, with lower trading volumes signaling a downturn. Ethereum and Solana are both struggling to break key resistance levels, while XRP remains volatile amidst its legal battle with the SEC.

Ethereum, the second-largest cryptocurrency by market cap, has been eyeing a breakout after a recent correction. Despite attempts to surpass the $3,200 mark, ETH has faced resistance due to low trading volume. Analysts warn that a drop below $3,150 could signal a continuation of the downtrend.

Solana, on the other hand, has broken below key support levels and faces downward pressure. The token’s failure to hold the $139-$143 range could lead to a significant decline, potentially dropping below $100. Daily closes above $160 are crucial for a reversal of the downtrend.

XRP’s price has been on a rollercoaster ride due to the ongoing legal battle with the SEC. The market reacted negatively to Ripple’s rejection of the SEC’s proposed fine, halting XRP’s recovery. Resistance levels at $0.52-$0.55 are crucial for XRP to reverse its current trend.

Looking ahead, increased volatility is expected in the cryptocurrency markets as the legal battle between Ripple and the SEC unfolds. The final court decision is likely to have a significant impact on XRP’s price in the coming months.

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