The market faces a downturn, resulting in Bitcoin dropping to $78,907 and XRP falling to $1.99

The crypto market decline is ongoing as of February 28, 2025, with Bitcoin impacting the altcoin sector and pushing it toward a downtrend.

The crypto market is currently facing a downturn, with Bitcoin dropping to $78,907 and XRP falling to $1.99 as the SEC wraps up investigations on 5 major crypto firms.

Market Faces Downtrend Following SEC’s Shocking Move

The cryptocurrency market saw $524 million in liquidation in the past 24 hours. The sharp price downturn has resulted in significant losses across the market, impacting mostly the long-position traders. Following this crypto market decline, the SEC took action, dropping five major crypto companies: Robinhood, Uniswap, Gemini, Consensys, and Coinbase. This sudden move was reportedly due to a shift in regulatory priorities, which will favor the crypto market. However, despite a favorable environment, giants like XRP and Bitcoin are currently witnessing downtrends due to high volatility.

In fact, Bitcoin, as discussed above, has dropped 21% from its peak on January 20 following Donald Trump’s U.S. presidential election victory in November, according to Reuters.

This week, the SEC ended investigations into the following crypto companies

Monday: Robinhood

Tuesday: Uniswap

Wednesday: Gemini

Thursday: Consensys

Friday: ??? pic.twitter.com/0QI5gGi5dk

— Watcher.Guru (@WatcherGuru) February 27, 2025

Bitcoin Price Drop & XRP Price Wooble

The 21% Bitcoin price drop is the result of fading hopes for a U.S. strategic Bitcoin reserve and growing concerns about tariff threats, which have dampened demand for speculative assets. Now, with the market uncertainty adding to the downtrend of Bitcoin, at the time of writing, Bitcoin is trading at $78,907. Several factors are considered to be causing the price decrease of Bitcoin, such as Bybit hacking and global regulatory concerns and shifts in policies, including tariff tensions between major economies.

Moreover, the XRP downtrend is also the cause of the bearish market. It is currently sitting at $1.99, reflecting the ongoing downward trend. XRP is going through a tough time as it faces difficulty pushing past the $2.20 resistance level, while after the crypto market decline, the whole crypto space is struggling to gain momentum. However, to make any upward trend, XRP downtrend, an uptrend, it has to cross the mark of $2.30, which would shift the market sentiment and push the price toward $2.350, $2.420, or even $2.450.

Source: TradingView

Market Outlook: Trump’s Policy & AI Tokens Price Decreased From $0.80 to $0.75

Despite Trump’s promises of a “crypto presidency” and his aim of a national bitcoin reserve, the market remains subdued. Many investors are now wondering if the administration is really as pro-crypto as it first seemed. Analysts suggest that the