XRP price hovers at $1.40 after facing resistance around the previously broken lower trendline of the falling wedge pattern.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) show signs of cautious stabilization on Wednesday after failing to close above their key resistance levels earlier this week. BTC trades below $69,000, while ETH and XRP also encountered rejection near major resistance levels. With no immediate bullish catalyst, the top three cryptocurrencies continue to show no clear signs of a sustained recovery.
Bitcoin retested the daily resistance at $73,072 on Sunday and has declined slightly by 2.24% through Tuesday. As of Wednesday, BTC is trading below $69,000.
If BTC continues its downward trend, it could extend the decline toward the 78.6% Fibonacci retracement (drawn from the August 2024 low of $49,000 to the October 2025 all-time high of $126,199) at $65,520.
The Relative Strength Index (RSI) on the daily chart is at 31, pointing downward toward the oversold territory, suggesting bearish momentum is gaining traction. In addition, the Moving Average Convergence Divergence (MACD) in the same period shows a bearish crossover, suggesting a continuation of the downward trend.
On the contrary, if BTC recovers, it could extend the advance toward the daily resistance at $73,072.
Ethereum retested and was rejected by the 78.6% Fibonacci retracement level at $2,149 on Monday, and declined nearly 4% the next day. As of writing on Wednesday, ETH is trading at $2,012.
If ETH continues its downward trend, it could extend the decline toward Friday’s low at $1,747.
Like Bitcoin, Ethereum’s RSI and MACD also support a bearish outlook.
However, if ETH breaks and closes above $2,149 on a daily basis, it could extend the advance toward the next resistance at $2,500.
XRP revisited the broken trendline boundary of a falling wedge on Friday and has been facing rejection around this level through Tuesday. As of Wednesday, XRP is trading below $1.40.
If XRP continues its downward trend, it could extend the decline toward the weekly support at $1.30.
Like Ethereum, XRP’s momentum indicators (RSI and MACD) are also projecting a bearish outlook.
If XRP breaks and closes above the lower boundary of this pattern, it could extend the rally toward the 50-day Exponential Moving Average at $1.79.
