XRP drops 4% as Bitcoin nears $105K resistance, overall crypto market down

From Yahoo Finance: 2025-05-16 00:47:00

XRP dropped over 4% in 24 hours, leading losses in major cryptocurrencies. Bitcoin hovers above $104,000, traders eyeing steady rise past $105,000 resistance. Total crypto market cap down 2% to $3.3 trillion, Ethereum and Solana pausing near 200-day moving averages. Fear & Greed Index at 70, suggesting fading momentum.

Bitcoin forming top, may signal correction says FxPro analyst. Crypto market may continue higher unless equities roll over. Ethereum may benefit more in near term, part of broader crypto uptrend. Macro shift favors crypto, investors rotating into emerging markets, precious metals, and crypto for risk hedge.

BTC rally driven by spot market demand, not excessive leverage. Retail and Asia-based wealth managers buying, sustaining bullish sentiment. Price lull ahead of macroeconomic data and concerns about U.S. trade deals impact. Markets await decisive move to reset direction.

Fan warns BTC may struggle against $105,000 resistance, Ethereum to benefit in near term. Shift towards crypto as hedge against geopolitical and currency risks. BTC rally fueled by spot market demand, not leverage. Price lull ahead of macroeconomic data and concerns about U.S. trade deals impact. Markets await decisive move to reset direction.

Read more: XRP Slides 4% as Bitcoin Traders Cautious of $105K Price Resistance