Daily Crypto Signals: Bitcoin Faces Key Support Test, XRP Eyes ETF Approval
Bitcoin slipped below critical support levels around $105,000 as profit-taking intensifies, while XRP consolidates between $2-$2.35 ahead of
Quick overview
- Bitcoin has slipped below critical support levels around $105,000 due to intensified profit-taking, raising concerns of a potential drop to $100,000.
- XRP is consolidating between $2.00 and $2.35, with analysts projecting a 95% probability of ETF approvals in 2025, which could drive prices higher.
- Deutsche Bank plans to launch a crypto custody service in 2026, collaborating with Bitpanda and Taurus to enter the digital asset storage market.
- Solana experienced a brief spike following ETF news but quickly erased gains, indicating ongoing technical challenges and a bearish trend.
Bitcoin BTC/USD slipped below critical support levels around $105,000 as profit-taking intensifies, while XRP XRP/USD consolidates between $2-$2.35 ahead of potential ETF approvals that analysts project with 95% probability for 2025.
Crypto Market Developments
On Tuesday, there were some important changes in the cryptocurrency market that had to do with rules and institutions. For example, the US Securities and Exchange Commission is said to be looking into a simpler listing structure for crypto exchange-traded funds that might speed up the licensing process. Under the proposed approach, ETF issuers might skip the usual 19b-4 application submissions and instead send in SEC form S-1. If no one objects, the application would be automatically approved in 75 days.
Deutsche Bank, Germany’s biggest bank, said it would work with Bitpanda’s technology unit in Austria and Taurus, a Swiss provider, to start a crypto custody service in 2026. This is the bank’s most recent attempt to get into the digital asset storage business, which it first announced in 2020. US senators in Washington held long voting sessions on Trump’s “One Big Beautiful Bill Act.” Republican Senator Cynthia Lummis suggested changes that would make it easier for cryptocurrencies to be taxed fairly, such as not taxing transactions under $300.
Bitcoin Dips to $105,000 Support
Bitcoin (BTC) fell down to $105,250 on Tuesday after failing to break over the $109,000 resistance mark over the weekend. Bitfinex analysts say that the cryptocurrency may have hit a local top or entered a phase of consolidation. As BTC fell below two important support levels, the selling pressure grew, fueling fears that it could collapse to the psychological $100,000 barrier. Technical analysis shows that Bitcoin is stuck between a downtrend line and moving averages, and the relative strength index is close to the middle, which means there isn’t much bullish momentum.
On-chain data shows a more complex picture of how the market works, even while prices are poor. According to Glassnode, the current sell-off is being led by people who have held coins for 3 to 5 years, who made $849 million in profits, and people who have held coins for 7 to 10 years, who made $485 million. Profits made every day reached $2.46 billion, but this is still less than the $4–5 billion highs observed in the fourth quarter of 2024. CryptoQuant analyst Yonsei Dent said that even though there is a lot of selling pressure, Bitcoin’s price is stable, which means that the market is effectively absorbing the outflow because demand is steady. He sees this redistribution as typical bull market behavior that could mean a shift from older holders to newer market participants.
XRP Battles Resistance at $2.35
XRP is still trading in a narrow range between $2.00 and $2.35, and it is having trouble breaking through the top resistance level even if there is fresh hope that ETFs will be approved. Eric Balchunas and James Seyffart, two Bloomberg ETF experts, say there is a 95% chance that XRP, Solana, and Litecoin ETFs will get SEC approval in 2025. This would be a big reason for prices to go up. On Monday, the cryptocurrency was able to break above the 50-day simple moving average at $2.24, but there was a lot of selling pressure at higher levels, which made long wicks on the daily candlestick chart.
According to technical analysis, the 20-day exponential moving average around $2.17 is an important support level for the short term. If XRP can bounce back strongly from this level, it is more likely to break over the $2.35 resistance level, which could lead to a target of $2.65 and the completion of an inverted head-and-shoulders pattern with a target of $2.76. However, if support doesn’t stay above the 20-day EMA, it might mean that bearish control is in charge, which could lead to a drop toward $2.06 and possibly a test of the important $2.00 support level, where buyers are likely to put up a robust defense.
Solana Erases Gains from ETF News
Solana SOL/USD had a small spike of 5% to $160 on Monday after word broke that its first exchange-traded fund was going online for trading. However, the excitement didn’t last long, and the altcoin lost all of its gains within 24 hours. This price movement showed that there were still technical problems on many timeframes, since SOL couldn’t stay above the 50-day and 200-day exponential moving averages for more over a month. The cryptocurrency is now trading at $146, which is close to a key supply cluster between $144.5 and $147.7. According to UTXO realized price distribution data, about 14.3% of tokens were bought in this range.
The general trend is still bearish on longer time periods, and SOL has been stuck in a downward channel since it couldn’t break through important barrier at $180 in May. The value of the cryptocurrency has dropped by around 50% since January 19, which is a lot worse than Bitcoin, which is currently close to all-time highs. SOL needs to stay above $144, because if it goes below that level, it might start a further correction toward $124 or even the $95-$100 region, where support is getting weaker. For bulls to get back in charge, they would need to successfully retest the $145-$137 demand zone and then rise above $160. This would change people’s minds and speed up a possible bullish reversal.
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