- XRP surged to $3.40 before falling 47%, closely marking Bitcoin’s local top at $108,786.
- Bitcoin dropped below $80,000 following a period of relative strength and resilience to equity market crashes.
- Crypto market sentiment has cooled as retail interest declines and strong selling pressure prevents upward price momentum.
The price of XRP surged to a new record high of $3.40 on the Bitstamp exchange on January 16, following a sharp rally through late 2024. The substantial price fluctuation was observed right ahead of Bitcoin’s peak at $108,786 during January 20 which generated new interest regarding XRP’s potential adverse effects on Bitcoin price movements.
Veteran market observer Joe Weisenthal pointed out that major XRP rallies have historically coincided with Bitcoin topping out. The timing of these peaks has once again raised discussions about market sentiment and altcoin-driven signals during volatile trading cycles.
Market Enthusiasm Wanes as XRP Declines Sharply
Following its all-time high, XRP dropped by 47%, with much of the correction attributed to fading interest from retail investors and a cooling off of enthusiasm surrounding the SEC’s regulatory stance on digital assets.
XRP experienced its severe value decline as the entire crypto market faced increased pressure at that time. Bitcoin maintained an initial steady position until risks intensified while investors chose to sell their major token assets.
Bitcoin Slips Below $80K as Selling Pressure Builds
On April 6 Bitcoin dipped to $76,896 below its $80,000 value point per CoinGecko. The market showed resilient performance but experienced a major U.S. equity market crash before its recent value decline.
Investors in the market agree that Bitcoin price movement remains mostly dependent on macroeconomic elements. Risk-off events in traditional stock markets lead to similar negative market behavior in the Bitcoin crypto market.
Expert analysts detect intense sales pressure throughout the market despite confirming bullish signals
According to CryptoQuant CEO Ki Young Ju Bitcoin stands in a bull phase because its realized market cap expands yet its total market cap shows no growth which indicates continuous distribution events.
Large purchases are not able to push prices higher as strong selling pressure continues to prevent market growth. Financial commentator Peter Schiff maintains his bearish view by stating that Bitcoin along with other cryptocurrencies, has no intrinsic value.
