Altcoins Slide as Market Panic Deepens, XRP and ADA Breach Key Levels
Crypto markets extended losses Monday as escalating global trade tensions continued to weigh heavily on investor sentiment. XRP, ADA, and DOGE led the decline among major altcoins, each breaking through critical technical support zones.
Bitcoin (BTC) traded below $79,000 in early Asian hours, down over 5% on the day, as the fallout from President Trump’s sweeping tariffs sent risk assets sharply lower. Major altcoins were hit harder, with average declines between 12% and 15%.
XRP fell 14% to $1.90, slipping below the psychological $2 mark. The move completed a head-and-shoulders pattern on the daily chart, indicating further downside risk. RSI hovered around 30, suggesting oversold conditions but little sign of relief.
Cardano’s ADA shed 12%, dropping to $0.55 and slicing through its 50-day moving average. A breakdown from a descending triangle suggests bears remain firmly in control. Support may emerge near $0.40.
Dogecoin (DOGE) plunged to $0.16, down nearly 15%, as a death cross emerged on the 4-hour chart. RSI sat deep in oversold territory at 28, while resistance is now seen near $0.21.
Markets have entered risk-off mode, with the total crypto market capitalization down nearly 20% in the past week. Analysts warn of continued pressure as macroeconomic uncertainty and the threat of a recession loom.
