XRP News Today: Bitcoin Drops 2% From All-Time High Amid Tariff Concerns XRP Struggles With 10% Gains As Bitcoin Dominance Rises Solana Nears $200 As Bullish Momentum Builds

Bitcoin, the leading cryptocurrency, has recently reached an all-time high of nearly $112,000, sparking market euphoria. However, signs of exhaustion are now evident, with a potential reversal indicated on the daily chart. Long upper wicks on recent candlesticks suggest rejection from higher levels, and the price has already fallen below $110,000 with decreasing volume. The Relative Strength Index (RSI) is trending lower from overbought levels above 70, indicating a possible deeper correction. If Bitcoin loses support at $107,000-$108,000, it could return to the $102,000 breakout point, potentially strengthening bearish momentum. This technical risk is exacerbated by a major macroeconomic development: a new 50% tariff on goods imported from the EU, scheduled to take effect on June 1, 2025. This action aims to address alleged trade imbalances and may trigger economic reprisals from EU countries, increasing uncertainty for global risk assets like cryptocurrency and raising the possibility of capital flight from unstable positions. A tariff war could harm liquidity and institutional appetite, making Bitcoin vulnerable to geopolitical pressure and a steep correction due to its speculative rally. Traders should closely monitor the $102,000 level, as a crash landing could end the post-ATH party if it breaks.
As Bitcoin continues to dominate the market, XRP is struggling to keep up with the general optimism driving the cryptocurrency market. While XRP has technically recovered its key exponential moving averages and broken out of its descending channel, its momentum has stalled compared to Bitcoin’s rally. Currently trading near $2.45, XRP has established a local support zone between $2.30 and $2.35. Although the price action has moved above the 100- and 200-day EMAs, it remains erratic and cautious, with the RSI hovering around neutral and volume levels not encouraging a long-term rally. The increasing market dominance of Bitcoin is a significant factor hurting XRP, as altcoins lose money during times of high Bitcoin dominance. This dynamic explains why XRP struggles to sustain post-breakout gains while Bitcoin easily explores price discovery around $111,000. The altcoin market as a whole is under pressure, with many layer 1s and DeFi tokens failing to hold breakouts or gain traction. XRP’s regulatory baggage and erratic on-chain metrics further hinder its position in the current risk-on cycle. Unless Bitcoin levels off and its dominance declines, XRP may continue to lag. However, a strong volume surge and reclaiming of $2.60 could change XRP’s fortunes.
Solana is showing renewed momentum as its price rises to $186, approaching the psychologically significant $200 mark. The asset has recently confirmed the strength of the local uptrend by breaking out of a short-term consolidation pattern. Technical indicators are beginning to flash signals that could support the next leg upward, with the 26-day EMA crossing above significant moving averages like the 50 and 100 EMAs. This crossover, though not a golden cross in the traditional sense, indicates growing local momentum and heightened bullish interest. However, the larger context adds some caution, as longer-term moving averages are still well below the current price movement. The bullish structure will remain locally confined until these lagging indicators start to turn upward and close the gap with the spot price. Volume patterns support the breakout, and if local momentum continues to increase, Solana could be at the beginning of a long-term breakout. The $200 goal is attainable, but longer-term support catching up will determine whether SOL can maintain its position above it. Traders should avoid chasing a move that is still maturing by closely monitoring volume and trend confirmation.
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