The Crypto Market Continued Slumping on Monday, with the Fear and Greed Index Slipping to 24

On theory, the upcoming Liberation Day will be bearish for stocks and the crypto market, which explains why they have tumbled.

The crypto market continued slumping on Monday, with the fear and greed index slipping to 24. Bitcoin price plunged for four days, moving to a low of $82,000, while Ethereum tumbled to $1,800 and Ripple slipped to $1.05. This article looks at the top BTC, ETH, and XRP price predictions ahead of Donald Trump’s Liberation Day.

The cryptocurrency market has been in a major downturn in the past few months. The total market cap dropped to less than $2 trillion on Monday, compared to a high of $3.04 trillion in November 2021.

The downturn has been driven by several factors, including the macroeconomic outlook, the actions of the Federal Reserve, and the Liberation Day tariffs imposed by the Trump administration.

The administration imposed tariffs of 25% on $50 billion worth of Chinese goods in August 2019. The move sparked a trade war between the two economic superpowers. Later, Trump announced tariffs of 10% on an additional $200 billion in goods from China, set to take effect on Liberation Day.

The tariffs are expected to have a minimal impact on the U.S. economy, given that they represent less than 0.1% of the country’s GDP. However, they could significantly affect specific industries, such as technology and agriculture.

The Trump administration has maintained that the tariffs are necessary to protect American jobs and intellectual property. However, critics argue that the tariffs will ultimately harm consumers and businesses by raising prices and reducing economic activity.

The Trump administration also slashed interest rates to zero and launched the controversial quantitative easing policy in response to the Global Financial Crisis in 2008/9.

After these actions, American equities embarked on a decade-long bull run, and stocks and crypto surged after the initial plunge following the Covid-19 pandemic.

This year, the Federal Reserve will likely focus on the market and act accordingly if evidence shows that the U.S. is approaching a recession. Besides, recent data shows consumer confidence has tumbled while business investment is slowing.

From a fundamental perspective, BTC, ETH, and XRP prices have crashed ahead of Liberation Day. As such, these assets may rebound when it happens since market participants have priced in the tariffs.

XRP Price Prediction

The daily chart reveals that the XRP price remains under pressure this week, and is approaching the key point at $1.9035. This is a crucial level since it is at the 50% Fibonacci Retracement point. It is also the neckline of the H&S pattern.

This technical indicator is formed by the 50-day Simple Moving Average (SMA) and the 200-day SMA. When the shorter-term MA crosses below the longer-term MA, it is called a death cross. This pattern is generally bearish and suggests that the underlying asset’s price trend is reversing.

The coin is also about to form a death cross pattern as the spread between the 50-day and 200-day Weighted Moving Averages (WMA) has narrowed. More downside will be confirmed if the Ripple price plunges below the support at $1.9035. A move below that level risks the XRP price crashing to $1.

On the other hand, a move above the 50-day moving average at $2.34 will invalidate the Ripple forecast.

BTC Price Technical Analysis

The BTC price has crashed in the past few months. Bitcoin price technical analysis on the 12-hour chart shows that it crashed in the past few days, moving below the lower side of the rising wedge pattern. It has also formed a death cross pattern, and is nearing the 50% retracement point.

This technical indicator is formed by the 50-day Simple Moving Average (SMA) and the 200-day SMA. When the shorter-term MA crosses below the longer-term MA, it is called a death cross. This pattern is generally bearish and suggests that the underlying asset’s price trend is reversing.

The BTC price has also moved below the Ichimoku Kinko Hyo cloud and the major S/R pivot point of the Murrey Math Lines. Therefore, Bitcoin price will likely crash to the ultimate support at $75,000.

ETH Price Technical Analysis

The ETH price has remained under pressure in the past few months. It has dropped and retested the key point at $2,113, a notable level since it was the neckline of the triple-top pattern. A break-and-retest pattern is a popular bearish continuation sign.

This technical indicator is formed by the 50-day Simple Moving Average (SMA) and the 200-day SMA. When the shorter-term MA crosses below the longer-term