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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-ethereum-and-xrp-show-significant-market-movements/" data-wpel-link="internal">Bitcoin, Ethereum, and XRP Show Significant Market Movements</a><br></p>
<p class="p1" style="text-align: justify">Noteworthy developments continue in the <a href="https://en.coin-turk.com/bittrex-global-to-cease-operations-cryptocurrency-exchange-announces/" data-wpel-link="internal">crypto market</a>. Accordingly, the price drop of <strong>Bitcoin</strong> at a critical support level has affected the entire crypto market. Investors sold off following lower-than-expected US Consumer Price Index (CPI) <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a>. In this article, we analyze three major assets in the crypto market and their potential for the upcoming week.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-chart-analysis">Bitcoin Chart Analysis</h2> 
<p class="p1" style="text-align: justify">With crypto <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> turning to sell, <strong>Bitcoin’s</strong> price has dropped more than 5% in the last seven days. Bitcoin and the rest of the market slightly rose after the inflation data was released this week but fell shortly after due to profit-taking. This led to Bitcoin losing its critical $60,000 support, causing Bitcoin’s price to trade at $58,408 at the time of writing.</p> 
<p class="p1" style="text-align: justify">Aiming to rise from the $58,200 Bitcoin support, Bitcoin could reclaim $60,000 as support. However, if this does not happen and the decline continues, Bitcoin could lose the $57,000 support, with the next critical support at $54,500.</p> 
<h2 id="img-loading-lazy-loading-lazy-decoding-async-class-aligncenter-wp-image-380623-size-full-src-https-coin-turk-com-wp-content-uploads-2024-08-btc-7-webp-alt-width-1755-height-806"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380623 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/btc-7.webp" alt="" width="1755" height="806"></h2> 
<h2 class="p1" style="text-align: justify" id="ethereum-chart-analysis">Ethereum Chart Analysis</h2> 
<p class="p1" style="text-align: justify"><strong>Ethereum’s</strong> price failed to recover, rising by 11.75% and currently trading at $2,618. The altcoin king failed to break above the $2,681 resistance despite surpassing it twice last week.</p> 
<p class="p1" style="text-align: justify">There is a possibility of a price drop in Ethereum, but it may not fall below $2,400. The next significant support level is $2,344, but the altcoin may stay close to the $2,681 resistance level. However, if bearish signals dominate the market and Ethereum records a decline, it could test the $2,344 support, invalidating the bullish thesis.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380622 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-3.webp" alt="" width="1754" height="806"></p> 
<h2 class="p1" style="text-align: justify" id="xrp-chart-analysis">XRP Chart Analysis</h2> 
<p class="p1" style="text-align: justify">XRP’s price did not follow the path set by Bitcoin and Ethereum; instead, it charted its own course. Currently trading at $0,568, the altcoin lost the support of the 38.2% Fibonacci Retracement line at $0,587. The crypto asset is now looking at a potential drop to the 23.6% Fibonacci line at $0,524. Known as the bear market support base, this level could prevent further declines and help XRP recover.</p> 
<p class="p1" style="text-align: justify">However, if <strong>XRP</strong> falls below this level, it will show a significant bearish trend. In addition to dropping to $0.50 or lower, the altcoin will also invalidate its recovery chances.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-380621 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/xrp-1.webp" alt="" width="1754" height="806"></p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-ethereum-and-xrp-show-significant-market-movements/" data-wpel-link="internal">Bitcoin, Ethereum, and XRP Show Significant Market Movements</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-ethereum-and-xrp-show-significant-market-movements/" data-wpel-link="internal">Bitcoin, Ethereum, and XRP Show Significant Market Movements</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin, Ethereum, and XRP Show Significant Market Movements

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