The cryptocurrency market has turned bearish again after a small growth week. Ethereum has fallen over 5%, putting pressure on altcoins like XRP and Kaspa.
New Wave of Decline
Kaspa (KAS) has suffered a 38% drop in the last 90 days, continuing a bearish trend. XRP is similarly trending downwards, suggesting potential further decline.
KAS and XRP Chart Comparison
The left-side chart shows Kaspa in a clear downtrend after breaking from a 'head and shoulders' pattern. The right-side chart shows similar behavior from XRP, which has also broken below the 50-day moving average and is nearing the crucial 150-day moving average level.
Final Thoughts
Both Kaspa and XRP have shown similar bearish structures. XRP is at a critical point that will determine its future movement in the market.
If XRP holds at the 150-day moving average support, it may avoid a steep decline, but if it loses this support, further losses could occur.
