BTC/USD dropped from the intraday $9,476 to $8,547. The first digital coin lost nearly $1000 in a matter of hours before recovering to $8,8820 by press time. Despite the sell-off, BTC is still 10% higher from this time on Wednesday. A sustainable move below $9,000 has created a strong bearish momentum; however, the coin is heavily bought on the dips.
Ripple's XRP dropped from the intraday high $0.2357 to $0.2100. While the price has recovered to $0.2180 by press time, the XRP virtually erased all the gains of the previous day. From the technical point of view, XRP/USD retains the bullish bias as long as it stays above $0.2030-$0.2000. This former resistance area that includes 38.2% Fibo retracement for the downside move from February 2020 high now serves as strong support.
Ethereum tested $227.36 during early Asian hours and retreated to $217.80 by the time of writing. The second-largest digital asset has gained over 8% of gains on a day-to-day basis and 2% since the start of the day. Despite the downside correction, ETH/USD is still one o the best-performing assets in the recent seven days out of top-10. Ethereum's market capitalization reached $24 billion, while its average daily trading volume is $28 billion.
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