XRP, HYPE, and ZEC are facing sustained selling pressure, with technical indicators suggesting further declines in the near term. As of the latest trading session, all three assets have broken below key support levels, raising concerns among traders about extended downside risk.
XRP Struggles at Critical Support: XRP has been unable to hold above the $0.50 psychological level, slipping below its 50-day moving average. The Relative Strength Index (RSI) has dipped into bearish territory, signaling that sellers remain in control. If XRP fails to reclaim the $0.48 support zone, analysts warn of a potential retest of the $0.42 area, a level not seen since early 2024. The broader market correlation with Bitcoin’s recent weakness has amplified selling pressure on XRP, with on-chain data showing increased exchange inflows, suggesting holders are preparing to sell.
HYPE Token Faces Liquidity Concerns: HYPE, the native token of the Hyperliquid ecosystem, has seen its price drop by over 15% in the past week. The decline follows a broader de-risking event in the decentralized perpetuals market, where HYPE is primarily used. The token has broken below its $3.20 support level, and trading volume has surged, indicating panic selling. Key technical indicators, including the MACD, have turned bearish, with the histogram printing deeper red bars. The next major support sits at $2.80, and a breakdown below that could open the door to $2.50. Market participants are closely watching the Hyperliquid protocol’s total value locked (TVL), which has also declined, reflecting reduced user activity.
ZEC’s Privacy Narrative Fails to Attract Buyers: Zcash (ZEC) continues its downward trajectory, falling below the $25 mark for the first time in several months. Despite its strong privacy features, ZEC has struggled to gain traction amid a market that currently favors utility-driven projects. The token has formed a series of lower highs and lower lows, a classic bearish pattern. The $22 level is now the last line of defense before a potential drop to $18. On-chain metrics show a decline in active addresses and transaction counts, suggesting waning network usage. The lack of a strong catalyst, such as a major exchange listing or protocol upgrade, has left ZEC vulnerable to broader market headwinds.
Overall, XRP, HYPE, and ZEC are all exhibiting bearish technical structures, with key support levels under threat. The lack of strong buying momentum and the broader risk-off sentiment in the cryptocurrency market suggest that further declines are possible. Traders should monitor the identified support zones closely, as a breakdown could accelerate selling pressure. Conversely, a decisive reclaim of these levels would be the first sign of a potential reversal, though current conditions do not favor that outcome.
