Top 3 Price Predictions: Can Bitcoin, Ethereum and Ripple Arrest the Decline as BTC, ETH and XRP Extend Losses Amid Rising Inflation?

Selling pressure keeps Bitcoin below $73,500 on Wednesday as losses deepen following hot inflation data.
Ethereum remains under $2,050, with its decline so far this week approaching 4%.
Sellers retain the upper hand in XRP as the correction moves towards the next important zone near $1.

Risk appetite remains under pressure on Wednesday, sending Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) further lower after US Consumer Price Index (CPI) data came in hotter than expected. With BTC dropping below $73,500 and ETH retreating beneath $2,050, XRP also continues its correction as sellers target psychological support at $1.00. All three leading cryptocurrencies display bearish price action, and any relief rally is likely to draw fresh selling interest.

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Can Bitcoin Defend $70,000 as Bears Press Lower?

Trading below its key Exponential Moving Averages (EMAs), Bitcoin maintains a bearish short-term outlook at $73,367 on Wednesday. Resistance is stacked above the price, with the 200-day EMA at $76,404, the 100-day EMA at $77,473 and the 50-day EMA at $78,879 indicating successive trend barriers that cap the market.

Selling pressure also remains evident in the momentum indicators. The Relative Strength Index (RSI) is edging towards the oversold threshold near 33, while Moving Average Convergence Divergence (MACD) stays negative, pointing to continued bearish pressure rather than a bullish reversal in the immediate term.

For buyers to temper the prevailing downside bias, they would first need to overcome a tightly packed set of technical barriers: the 200-day EMA around $76,404, followed by the 100-day EMA at $77,473 and the 50-day EMA at $78,879. Beyond these levels, horizontal resistance near $85,000 presents a more significant hurdle, where supply seen previously could return.

With no nearby support identified on the chart, a further breakdown from current levels would point BTC towards the psychological support zone around $70,000 before prices stabilise.

Can Ethereum Shake Off Bearish Momentum?

At $2,047 on Wednesday, Ethereum remains firmly below the 50-day, 100-day and 200-day EMAs, grouped roughly between $2,305 and $2,346, keeping its bearish phase intact. A break below the former rising trendline, which now acts as resistance near $2,445, adds to the corrective bias. Although an RSI reading around 29 indicates oversold conditions that could slow the decline, it does not yet signal a reversal of the prevailing downward pressure. Meanwhile, a negative MACD reading suggests sellers continue to control momentum.

Any recovery would first face the 200-day EMA near $2,305, followed by the 100-day EMA at $2,326 and the 50-day EMA at $2,346. A stronger horizontal hurdle lies at $2,400, ahead of the breached rising trendline around $2,445 and the more distant resistance ceiling at $2,770.

Should the decline continue, horizontal support at $1,823.64 is the nearest significant level where buyers could try to establish a more lasting floor.

Will XRP Find Support at $1 as Losses Deepen?

With XRP trading at $1.047 on Wednesday, its short-term outlook stays bearish as the price remains well beneath the 50-day, 100-day and 200-day EMAs at $1.283, $1.297 and $1.362, respectively. These overhead averages continue to constrain the price. An RSI reading of 23 indicates oversold conditions, suggesting that downward pressure is stretched but has not reversed. Despite that oversold backdrop, negative MACD readings indicate that momentum continues to favour sellers.

A rebound would encounter initial resistance at $1.160 before the horizontal barrier at $1.300. The 50-day and 100-day EMAs at $1.283 and $1.297 strengthen this concentrated supply zone, ahead of the longer-term 200-day EMA at $1.362. Further resistance lies at $1.540 and $1.900.

The psychological $1.000 level provides immediate support. A convincing break beneath it would leave room for further depreciation; conversely, defending this floor could enable a corrective recovery towards the resistance cluster outlined above.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

How Do Key Cryptocurrency Metrics Work?

How is circulating supply determined?

For each cryptocurrency, the developer or creator sets the total number of tokens that may be minted or issued. The algorithm underpinning its blockchain determines how many of these assets can be minted through mining, staking or other mechanisms. Circulating supply can also shrink, whether through token burning or by assets being sent mistakenly to addresses on incompatible blockchains.

How is market capitalisation calculated?

Multiplying an asset’s circulating supply by its current market value gives its market capitalisation.

What does trading volume measure?

Over a defined trading period, such as 24 hours, trading volume measures the total number of tokens of a particular asset exchanged between buyers and sellers. By combining volumes across centralised and decentralised exchanges, this metric helps assess market sentiment. Rising volume often indicates demand for an asset, as a greater number of people buy and sell the cryptocurrency.

How does the funding rate work?

To encourage traders to take positions and keep perpetual contract prices aligned with spot markets, exchanges use funding rates. Through periodic payments, this mechanism ensures that futures prices and index prices regularly converge. A positive funding rate indicates that the perpetual contract price exceeds the mark price, requiring bullish traders holding long positions to pay those holding short positions. Conversely, when the funding rate is negative, perpetual prices sit below the mark price, so traders with short positions pay those holding long positions.