Due to the strong downside momentum and tight conlsidaiton, I see potential for the further drop..
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
Ripple (XRP) hovers below $1.30 on Tuesday, held down by a weakening technical structure. The broader crypto market remains bearish ahead of the Federal Reserve’s (Fed) October 28 monetary decision.
Bitcoin is trading above $81,000 on Tuesday, aligning with a lethargic tone in the broader cryptocurrency market. Altcoins, including Ethereum and Ripple, reflect Bitcoin’s lock-step price action, trading below $2,400 and $1.30, respectively.
Pi Network (PI) is down nearly 2% on Tuesday, extending the previous day’s losses and risking an extended decline toward its record low of $0.0704. PI token’s social dominance score is down to a six-month low, suggesting reduced social interest.
NEAR Protocol (NEAR) price is down nearly 2% on Tuesday, mirroring its 2% decline from the previous day. Institutional demand remains firm, with Bitwise’s NEAR-focused Exchange Traded Fund (ETF) recording over $5 million in inflows on Monday.
![BTC/USD – Potential for another drop [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoins-36855764.jpg)