Crypto Winter Deepens: Bitcoin, Cardano Slump; XRP Holds Key Support

The cryptocurrency market is currently experiencing significant bearish pressure, with Bitcoin falling below crucial support levels and signaling a potential downturn. Meanwhile, Cardano (ADA) has dropped below a pivotal support level, while XRP is struggling to maintain its position above $2. As the crypto winter deepens, external factors such as tariff impositions have contributed to massive sell-offs and billions of dollars in outflows from spot ETFs. With Bitcoin struggling to hold $80,000 and Cardano slumping below crucial support, the focus shifts to the potential price rallies of XRP and ADA in March 2025.

Cardano (ADA) has witnessed a significant decline of over 20% from its consolidated phase around $0.77, despite the positive impact of a potential XRP & LTC ETF filing. The ADA price has broken down from a descending parallel channel, but the breakdown has not yet been validated, leaving room for a potential rebound. The Chaikin Money Flow (CMF) indicator remains above 0, suggesting that bulls still have the upper hand against bears. However, the Relative Strength Index (RSI) is stuck below a descending trend line, indicating that a drop below the lower threshold could trigger a strong rebound. Until then, the possibility of testing the support at $0.523 remains higher.

Ripple (XRP) is facing intense bearish pressure but has managed to maintain its position within a bullish range, with the bulls successfully defending the crucial support at $2. The token has previously dropped to this range at the beginning of the year, which subsequently pushed the price towards new highs above $3.3. Traders can expect a similar price action as the XRP price shows signs of a breakout. The XRP price has been trading within a strong bullish range, and the probability of a rebound remains high. The token remains within an accumulated zone, as indicated by the Accumulation/Distribution indicator, while the RSI tests the lower threshold, hinting towards the possibility of a bullish rebound. If XRP can hold the pivotal levels at $2, a bullish trend is likely to continue. However, if the support is breached, a drop to the lower support of $1.6 could materialize.