The post Bitcoin, Ethereum, XRP Prices Slip Ahead of Powell Speech – What’s Next? appeared first on Coinpedia Fintech News
The crypto market fell 0.86% in the last 24 hours, extending its seven-day loss streak to 4.28%. Mixed macroeconomic signals and crypto-specific headwinds have kept investors cautious. Institutional selling intensified after $240M in outflows from BlackRock and Fidelity’s ETH ETFs. At the same time, the high correlation between crypto and equities persisted as the Nasdaq slumped and derivatives volume dropped 13.6%.
Profit-taking has also been evident, with exchange ecosystem tokens such as OKB plunging 46% from all-time highs, dragging Binance-linked assets lower. The volatility comes just before Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium, a known risk event for global markets. Sentiment sits at 46 Neutral, with the Altcoin Season Index at 43/100, reflecting cautious but not panicked market behavior.
Bitcoin Price Analysis
Bitcoin is trading around $113,153.61, down 0.61% in the last 24 hours and 4.82% over the past week. Trading volume has risen to $57.16 billion, up 20.68% day-on-day, with price fluctuating between $111,986.23 and $118,595.78, well below its all-time high of $124,457.12.
The 4-hour chart shows Bitcoin sliding below the mid-Bollinger band and hugging the lower band, a sign of persistent bearish pressure. The RSI near the low 40s suggests weak momentum despite a slight uptick. Immediate resistance lies around the mid-band and the recent breakdown zone near $117k, while strong support has formed just above $111k.
If Bitcoin can reclaim the mid-band, a choppy recovery toward $115.5k–$117.5k is possible next week. Failure to hold above $111k could invite a test of $109k–$111k, whereas a decisive close above $117.5k would neutralize short-term bearish momentum and open the door toward $120k+.
Ethereum Price Analysis
Ethereum is priced around $4,338.58, up 0.80% over the past day but still down 6.46% over the week. Daily trading volume sits at $524.1 billion, rising 0.74% as price trades between $4,205.78 and $4,342.56, approximately 13% below its all-time high of $4,891.70.
ETH’s chart shows a rebound from the lower Bollinger band into the mid-zone, with RSI recovering to around 55, signaling improving momentum. A tentative higher low near $4.14k suggests buyers are stepping in cautiously, but overhead resistance around $4.50k and $4.88k remains firm.
If ETH maintains support at $4.25k–$4.30k, it could grind upward toward $4.45k–$4.50k next week. If it slips below $4.14k, a retreat toward $4.05k–$4.10k is likely.
XRP Price Analysis
XRP trades near $2.86, down 1.48% in 24 hours and 8.16% over the week, with daily trading volume at $170.41 billion, lower by 1.49%. Price action has been confined between $2.83 and $2.92, reflecting narrowing volatility.
The chart shows XRP trending along the lower Bollinger band with RSI around 40, indicating continued bearish pressure but signs of a minor bounce. The narrowing Bollinger bands hint at a likely breakout soon. Resistance is clustered near $2.90–$2.95 and heavier overhead at $3.10, while key support sits at $2.80 with a stronger floor near $2.65.
Next week, XRP is likely to trade between $2.65–$2.95. A break above $2.95 could spark a quick move toward $3.05–$3.10, while losing $2.80 risks a retest of $2.65.
FAQs
ETF outflows, profit-taking, and thin retail participation met bearish chart patterns, pushing prices lower for Bitcoin, Ethereum, and XRP.
A bullish Powell speech, stability in equities, or Bitcoin reclaiming lost technical levels could spark a market-wide rebound.
