The crypto market is in a wait-and-see mood today, with mixed price developments among the major coins. Bitcoin is balancing around a critical price level, while altcoins like XRP and Solana are each choosing their own direction.
Investors, meanwhile, are eagerly awaiting new US macroeconomic data later today, which may set the tone for future price action.
Bitcoin Price Recovers Slightly
The Bitcoin price has risen back above the psychological $81,000 barrier after a turbulent week. At the time of writing, BTC is trading at $81,000, representing a 0.36% increase in the last hour. Nevertheless, the price remains under pressure: In the last 24 hours, BTC fell by 1.19%, and on a weekly basis, it is down 2.62%.
These recent price movements follow a period of volatility in which investors are struggling to find direction. This is partly due to Donald Trump‘s erratic trade policies, including the trade wars and import tariffs he imposes on and off various countries.
The current price level above $81,000 is considered a critical support level by analysts. If this holds, the market will once again look toward the $84,000 area as a possible next price target.
XRP Hangs Around Critical $2 Level
XRP investors also appear to be struggling with the ongoing economic uncertainty. The coin is currently hovering around the psychologically important $2.00 level. In the last 24 hours, XRP lost 0.33%, and on a weekly basis, the price is down 3.26%. Earlier this week, the price briefly recovered but failed to break the resistance at $2.10.
Technical analysts indicate that XRP is currently in a consolidation phase. A break above $2.05 could provide a new upside boost, with a potential price target around $2.30.
Ethereum and Solana: Mixed Signals
Ethereum (ETH) is currently performing noticeably weakly, with a price of $1,553. This represents a decline of 3.44% in the last 24 hours and even 13.92% on a weekly basis. Confidence in the altcoin appears to be slowly crumbling, especially compared to competing projects.
Solana (SOL), on the other hand, is currently showing strength. The price is trading at $116.96, representing an increase of 1.38% in the last hour and 0.20% over the last 24 hours. Solana continues to benefit from growing adoption in the DeFi and NFT sectors.
More important figures from America
Investors are primarily looking ahead to the release of the American Producer Price Index (PPI), which will be released at 2:30 p.m. Dutch time. This figure is seen as a precursor to inflation and could potentially trigger a new price movement—both for the Bitcoin price and for altcoins like XRP.
[newsletter_form lists="1"]
