The post Cryptocurrency Market Faces Major Price Drops appeared on BitcoinEthereumNews.com.

This past week brought unforeseen turbulence in the cryptocurrency market, largely influenced by pending announcements from the Federal Reserve. The situation intensified as technology stocks, particularly those linked to DeepSeek, suffered significant losses. This downturn in traditional markets has also impacted altcoins, with major cryptocurrencies such as SOL, XRP, and ADA reaching new lows. How Low Can SOL Go?What’s Next for XRP? How Low Can SOL Go? The interest in Solana‘s meme coin surged dramatically, pushing SOL Coin to a historic peak of approximately $220. However, market volatility remains high, and SOL could face a decline, possibly testing crucial support levels between $218 and $203. If bearish trends persist, further dips towards $176 are also possible. What’s Next for XRP? XRP Coin has also been swept into the downward spiral, dropping from $3.4 to around $2.66. The market sentiment remains negative, raising concerns that XRP could fall to the $2 mark, with potential support breaking down to between $1.97 and $1.62 if conditions worsen. SOL Coin is fluctuating around $220, facing potential drops to $203 and $176. XRP Coin has seen prices plummet to $2.66, with a risk of falling to $2. ADA Coin is showing some resilience, rebounding to $0.9, but could test lower levels of $0.73 if market declines continue. Despite the current market challenges, some analysts highlight potential recovery signs, particularly for ADA, which aims to reclaim $1. As the market grapples with these fluctuations, careful monitoring of price movements and support levels will be essential for traders and enthusiasts alike. Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research. Source: https://en.bitcoinhaber.net/cryptocurrency-market-faces-major-price-drops

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Filed under: News - @ January 28, 2025 1:27 am