Cryptocurrency Market Update: Bitcoin, Ethereum and Ripple succumb to a massive weekend selloff

  • Bitcoin, Ethereum and Ripple lead the entire crypto market to record the most devastating losses in March.
  • Bitcoin price holds ground above $8,000 as Ethereum and Ripple try to force a recovery above primary support zones.

All the top three cryptocurrencies; Bitcoin, Ethereum and Ripple were put to their ultimate test following the bearish wave that swept across the cryptocurrency market. The entire market reacted in tandem with the major cryptos, posting massive losses as well.

At the time of writing, the intraday charts show buyers trying to find balance after the gruesome weekend session. The market is a mixture of red and green signals, however, most digital assets are holding the ground closer to their primary support areas.

BTC/USD, for instance, is holding marginally above $8,000 after plunging from highs close to $9,000 on Sunday. Bitcoin price recovery on Monday lost steam at $8,183, leaving the key $8,200 untested. The prevailing trend is bearish while the volatility is high, which means that the sellers are in the driver’s seat. It is essential that $8,000 continues to hold as support while the bulls plot the next move towards $9,000.

Read more: Bitcoin Price Analysis: Turmoil as BTC/USD crash almost hits $8,000

ETH/USD was not spared by the furious bearish wave on Sunday. The cryptocurrency was forced beneath several support zones including $220 and $200. Primary support at $200 came in handy, stopping the losses. At the time of writing, ETH/USD is trading at $201. The bullish trend and high volatility signal that a recovery is in the offing.

XRP/USD dive over the weekend erased most of the progress that had been made in both January and February. The cryptoasset's losses stopped within a whisker of $0.20. However, recovery is underway with Ripple price teetering at $0.2086. XRP/USD is the most improved among the top after posting over 2% in gains on the day.

Chart of the day: BTC/USD daily chart

BTC/USD price chart


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Prediction: BTC/USD lacks healthy support on the downside

BTC/USD bears took the price down from $9,236.20 to $9,228.26. The daily confluence detector shows a lack of healthy support levels on the downside. On the upside, there is one strong resistance level at $9,280.

More Bitcoin News

ADA/USD continues to trend in a narrow $0.011–range

ADA/USD bears took charge of the market following two bullish days and took the price down from $0.1273 to $0.1243. Initially, the bulls managed to take the price up to $0.136, before the bears took charge. The MACD shows decreasing bullish momentum, while the RSI is trending along the edge of the overbought zone.

More Cardano News

Ethereum Price Prediction: For how long will ETH/USD stay in consolidation?

Ethereum, just like Bitcoin is in a lull with the price pivotal at $240 for a few days now. The motionless trading is taking place despite activities in the Ethereum network skyrocketing. For instance, last week the (DeFi) ...

More Ethereum News

Tezos Price Analysis: XTZ/USD bulls retreat from $3-level

XTZ/USD has gone up from $2.82 to $2.897 as the bulls remained in control for the fourth straight day. The price has been trending in an upward channel formation and had managed to cross the $3-level.

More Tezos News


Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast