9 December 2025
The cryptocurrency focused on payments, XRP, has undergone a significant drop of over 6% this week, pushing its price back to $2. This level has become a fundamental demarcation line for this Ripple-linked token. Since December of last year, this level has been a zone where selling pressure often eases; a spot we also see in the lower shadows of various weekly candlesticks.
The crucial point is that if the $2 support level breaks, disappointed investors could panic and abandon the trading platform en masse. This could lead to a prolonged price decline that could go much further than we can currently foresee.
Currently, XRP is holding within this support line, but for a positive reversal, prices need to break the descending trendline that has formed since July, currently hovering around $2.50.
When we look at Bitcoin, the leading cryptocurrency, we see it near what may be its most crucial support structure ever. This includes a bullish trendline connecting higher lows since 2023 and 2024, the 100-week simple moving average (SMA), and the 38,2% Fibonacci retracement from the hard-fought bear market bottom at the end of 2022 to the recently reached all-time high of just over $126.000. The current price is around $91,760.87.
A break below this support level would shift attention to the April swing low, around $74,500, and further to the peak of the 2021 bull market, just below $70,000. Some traders are already anticipating and preparing for a Bitcoin price below $80,000 in early 2026.
On the other hand, to strengthen belief in a sustained bull market, Bitcoin buyers need to recapture the 50-week SMA, which is just above $102,252.
Regarding the Nasdaq, the situation seems more challenging. A classic "hanging man" candlestick pattern has appeared on the monthly chart, indicating a potential weakening. This pattern is characterized by a small real body at the top of the candlestick and a long lower shadow that is at least twice as long as the body itself. This indicates increasing selling pressure and suggests that the uptrend may be losing momentum.
When these signals occur at record highs, such as on the Nasdaq, they serve as a warning of a potential reversal or pause in the upward movement. This means traders should be alert for confirmation of a bearish price movement in subsequent candles.
For now, XRP and Bitcoin both sit at critical support levels, while the Nasdaq, with its uncertain signals, is also adding pressure. Traders will need to prepare for a scenario where the Santa rally that both tech stocks and crypto investors are hoping for may not materialize this year.
What are the implications of XRP's recent price drop?
XRP’s recent drop below $2 could lead to a break below this support, potentially triggering a sell-off among investors. This could impact the overall market sentiment and potentially put further pressure on the price.
How crucial is Bitcoin's support around $91,760?
This price zone is crucial because it brings together several technical levels, including a bullish trendline and the 100-week SMA. A break below this level could trigger a selloff and shift the focus to even lower price targets.
What can traders expect from the Nasdaq?
The "hanging man" pattern on the Nasdaq charts could indicate an initial weakening and could point to a correction. The correlation between tech stocks and crypto could cause movements on the Nasdaq to also affect the crypto markets, which requires investor attention.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
