Bitcoin and Ethereum Rebound... Why Is Only XRP Collapsing?

▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©

While Bitcoin and Ethereum have successfully rebounded from key support levels, XRP (Ripple) has failed to escape selling pressure, and a 'decoupling' trend is becoming clear within the market.

According to the investment media outlet FXStreet on May 1 (local time), Bitcoin (BTC) and Ethereum (ETH) showed short-term recovery signals by rebounding from major support zones the previous day, while XRP continued its bearish trend, falling below a key moving average. With the divergent directions of the three assets, a cautious atmosphere has formed across the market.

Bitcoin is currently trading around the $76,600 mark, maintaining above the $75,600 range where the 50-day and 100-day exponential moving averages are located. The Relative Strength Index (RSI) at 56 suggests upward potential without being overheated, but the Moving Average Convergence Divergence (MACD) remains below the 0 line, indicating that upward momentum has not fully recovered. Lower support levels are formed in the $75,600 and $74,487 ranges, while key upper resistances are identified at $78,962 and the psychological $80,000 mark.

Ethereum is trading at $2,265, barely holding above its 50-day moving average of $2,244. However, it has not surpassed the 100-day moving average of $2,344 and the Fibonacci 38.2% retracement level of $2,367, limiting its upward momentum. The Relative Strength Index (RSI) is at 49, remaining in the neutral zone, and the Moving Average Convergence Divergence (MACD) also stays in the negative territory, suggesting that buying pressure is not strong. In case of a decline, $2,130 and $1,747 are mentioned as key support levels.

On the other hand, XRP is trading around $1.37, remaining below its 50-day moving average of $1.40, indicating a persistent bearish trend. The Relative Strength Index (RSI) is at 44, below the neutral line, and the Moving Average Convergence Divergence (MACD) also remains in a declining phase, with selling pressure dominating every rebound attempt. The short-term support level is $1.30, and analysis suggests that if this level breaks, the price could fall to $0.75 based on the lower channel.

Ultimately, the market has entered a phase simultaneously testing the sustainability of Bitcoin and Ethereum's rebound and XRP's potential to escape its decline. The outlet diagnosed that if Bitcoin and Ethereum defend their support levels, further upward potential will open up, but XRP will find it difficult to break out of its bearish structure until it overcomes major resistance.

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