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**XRP Rapidly Diving Below $2, Bitcoin (BTC) on Verge of Losing $80,000, Shiba Inu (SHIB) Loses All Breakout Gains**
The crypto market is witnessing a significant downturn in the past few hours. XRP has rapidly declined below $2, while Bitcoin’s price is teetering on the edge of losing the crucial $80,000 mark.
XRP’s sharp decline has seen its price plummet by over 5% in the last hour alone, with many traders and analysts scrambling to make sense of this sudden move. The token’s recent performance has been marked by a steady uptrend, but it appears that this momentum has been reversed, at least for now.
As for Bitcoin, the world’s largest cryptocurrency is facing an existential crisis as its price teeters on the verge of falling below $80,000. This level represents a critical point in the market’s psychology, and if breached, it could lead to a deeper correction or even a potential crash.
Meanwhile, Shiba Inu (SHIB) has seen all of its recent gains erased, plunging back into bearish territory. SHIB’s price has lost more than 10% in the last few hours alone, causing widespread panic among investors and traders.
The current market conditions are eerily similar to those we witnessed during the 2022 bear market. With these developments unfolding, many experts believe that the crypto market is now poised for a deeper correction or even a potential crash.
It’s worth noting that XRP’s sharp decline was likely fueled by a combination of factors, including the Relative Strength Index (RSI) currently indicating an oversold condition at 44.17. If Bitcoin breaks below $80,000, we could see a significant sell-off, with the next crucial support levels located around $76,000 and then $72,000.
Source: https://u.today/xrp-rapidly-diving-below-2-bitcoin-btc-on-verge-of-losing-80000-shiba-inu-shib-loses-all-breakout
