XRP News Today: Bitcoin Drops 10% Below $102,800, Altcoins Follow

Crypto markets have experienced a significant downturn, with Bitcoin leading the decline. The bearish sentiment intensified during early trading hours, as Bitcoin faced a substantial pullback. This sudden shift has left many investors questioning whether this is an opportune moment to buy into the market.

Bitcoin's price has dropped below the pivotal support at $102,800, dragging down the levels of the majority of the altcoins. Ethereum, the second-largest cryptocurrency by market capitalization, has also felt the impact of the market downturn, with its price slumping below $2400. Solana's price is trading close to $160, while XRP is heading close to the barrier at $2.3. Cardano's price is approaching the crucial barrier at $0.7. Memecoins have also faced a massive bearish action, with BOOK OK MEME recording over a 10% loss, followed by dogwifhat, Fartcoin, and Mog Coin with over an 8% drop. No tokens have been attracting gains, which suggests the bears could have capitulated the market.

Multiple reasons other than the BTC profit-taking have been contributing to the crypto market plunge. These include a drop in the ETF inflows, a security breach at a major cryptocurrency exchange, and a regulatory crackdown on illicit activities of an online black market. Additionally, the market volatility has triggered substantial liquidations.

One of the major reasons for the downfall of not only the crypto markets but also the stock markets is the decision to downgrade the US credit rating. The agency warned that the country’s fiscal outlook was deteriorating as the national debt had risen to over $36.8 trillion from $21 trillion in 2020, which is believed to rise further.

Despite the market downturn, some analysts believe that this could be an ideal time to buy into the crypto market. The lowered prices of Bitcoin have again attracted the institutions, as a major company has again accumulated 7,390 BTC. On the other hand, the XRP and Micro XRP Futures are live on a major exchange, which has a major credibility upgrade with institutional futures. Meanwhile, a major investment firm's BTC ETF has pulled in nearly 2X the inflows of the GOLD ETF in 2025.

Hence, the momentum appears to be cooling, but the structure stays bullish as retail is piling in while whales quietly accumulate off-exchange, and sentiment’s heating up without tipping into mania. The BTC MACD flashes near-term caution with a bearish crossover, and open interest has pulled back, signalling reduced leverage and some profit-taking. Hence, one can expect a chop or a reset unless buyers step up fast.

Besides, the stablecoin inflows on exchanges are rising, and if the BTC price could rise back above $107K on real volume, the upside trend could accelerate. But for now, risk of consolidation or a shallow dip remains in play.