Bitcoin and Ethereum Rebound…Why is only XRP Collapsing?

▲ Bitcoin (BTC), Ethereum (ETH), XRP (XRP)/ChatGPT generated image ©

While Bitcoin and Ethereum have successfully rebounded from key support levels, XRP (Ripple) has failed to escape downward pressure, leading to a clear 'decoupling' trend in the market.

According to investment media FXStreet on May 1 (local time), Bitcoin (BTC) and Ethereum (ETH) showed short-term recovery signals by rebounding from major support zones the previous day, while XRP continued its bearish trend, falling below its key moving average. The diverging directions of the three assets have created a cautious atmosphere across the market.

Bitcoin is currently trading around $76,600, maintaining above the $75,600 range where the 50-day and 100-day exponential moving averages are located. The Relative Strength Index (RSI) is at 56, suggesting unheated upward potential, but the Moving Average Convergence Divergence (MACD) remains below the 0 line, indicating that upward momentum has not fully recovered. Lower support levels are formed in the $75,600 and $74,487 range, while upper resistances at $78,962 and the psychological $80,000 mark are identified as key.

Ethereum is trading at $2,265, barely holding above its 50-day moving average of $2,244. However, it has not surpassed the 100-day moving average of $2,344 and the Fibonacci 38.2% retracement level of $2,367, limiting its upward momentum. The Relative Strength Index (RSI) is at 49, remaining in the neutral zone, and the Moving Average Convergence Divergence (MACD) also stays in negative territory, suggesting weak buying pressure. In case of a decline, $2,130 and $1,747 are cited as major support levels.

In contrast, XRP is trading around $1.37, remaining below its 50-day moving average of $1.40, indicating a continued bearish trend. The Relative Strength Index (RSI) is at 44, below the neutral line, and the Moving Average Convergence Divergence (MACD) also maintains its downward trajectory, with selling pressure dominating every rebound attempt. The short-term support level is $1.30, and analysis suggests that if this level breaks, it could open up to $0.75 based on the lower channel.

Ultimately, the market has entered a phase where it is simultaneously testing the sustainability of Bitcoin and Ethereum's rebound and XRP's potential to escape its decline. The media assessed that if Bitcoin and Ethereum defend their support levels, further upward potential will open up, but XRP will find it difficult to break out of its bearish structure until it surpasses key resistances.

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