XRP News Today: Bitcoin Drops 7% Below $100,000 After US Iran Strike

Bitcoin (BTC) experienced a significant drop below the $100,000 support level on Sunday, following the US strike on Iran’s nuclear facilities. This decline has had a ripple effect on several major altcoins, including ETH, XRP, SOL, and HYPE, which have also fallen below their respective support levels. This suggests a broader market sentiment shift, with traders becoming more risk-averse.

Analysts remain optimistic about Bitcoin's long-term prospects. Real Vision CEO Raoul Pal recently compared the current crypto cycle to the pattern seen in 2017, predicting that the cycle could extend into Q2 2026. However, the immediate outlook for Bitcoin is uncertain, with the price potentially dropping to the $93,000 to $94,000 zone before any reversal.

Bitcoin's technical indicators, such as the moving averages and the relative strength index (RSI), suggest that bears are currently in control. If the price remains below $100,000, selling pressure could intensify, pulling the BTC/USDT pair down to $93,000. Buyers will need to push the price above the 20-day exponential moving average ($104,616) to prevent further downside in the near term.

Ether (ETH) has also faced selling pressure, falling below the $2,323 support level. The ETH/USDT pair is now near the $2,111 support, and a break below this level could see the price sink to $1,754. Buyers will need to defend the $2,111 level and push the price back above the 20-day EMA to suggest that the near-term correction may have ended.

XRP's range between $2 and $2.65 resolved to the downside on Sunday, indicating increased selling pressure. If the price sustains below $2, the XRP/USDT pair could tumble to the $1.61 support. Buyers will need to push the price back above the breakdown level of $2 to prevent a further breakdown.

Solana (SOL) completed a bearish head and shoulders pattern when the price closed below the $140 support on Saturday. The SOL/USDT pair could plunge to the $110 support and eventually to the pattern target of $93 if selling pressure continues. Conversely, a break and close above the 20-day EMA suggests solid demand at lower levels, potentially leading to a rise to the 50-day SMA ($160).

Hyperliquid (HYPE) has also faced selling pressure, with repeated failures to maintain the price above $42.50. The HYPE/USDT pair could descend to the breakout level of $28.50 if selling pressure continues. Buyers will need to defend the 50-day SMA and push the price back above the 20-day EMA to suggest a potential climb to $40.

In summary, the recent decline in Bitcoin has had a significant impact on several major altcoins, with all of them falling below their respective support levels. While analysts remain bullish on Bitcoin's long-term prospects, the immediate outlook is uncertain, with technical indicators suggesting that bears are currently in control. Traders will need to closely monitor the price action of these cryptocurrencies in the coming days to determine whether the selling pressure will continue or if a reversal is imminent.