Bitcoin Weakens Below $80,000 as XRP Ignores Ripple Bank Approval
Bitcoin (BTC) is showing near-term weakness, trading below $80,000 and its 50-day moving average. Analysts say a break below the $80,000 support zone could expose BTC to declines towards $75,000 and $73,000. Bitcoin spent two weeks in an $80,000-$86,000 range, while its 30-day trading range narrowed from 13% to 6%, a squeeze that could precede a sharp move. Options markets are pricing in a potential move of about 3% in either direction by Friday, around the Federal Reserve meeting.
XRP did not gain ground after Ripple received approval to operate a U.S. national trust bank. The charter could strengthen institutional custody infrastructure, but does not require institutions to buy XRP. XRP was down 0.5% since midnight UTC, while traders are watching support near $1.25. A hold at that level could indicate buyers are defending it; a break could signal further downside.
Bearish
The overall near-term signal is bearish because Bitcoin is below both the $80,000 level and its 50-day moving average, while analysts identify $80,000 as critical support. A confirmed break could prompt traders to target $75,000 and $73,000, potentially adding selling pressure across the wider crypto market. The compressed 30-day range may also precede a larger move, although it does not determine the direction. Options pricing around the Fed meeting points to a possible 3% move by Friday, indicating event risk rather than a clear bullish catalyst.
Ripple’s trust-bank approval is a potentially positive development for institutional custody, but the article notes that the charter creates no requirement to purchase XRP. The muted price reaction—XRP was down 0.5% after the news—suggests traders are distinguishing Ripple’s business and regulatory progress from direct token demand. XRP’s support near $1.25 is therefore an important technical level to monitor.
As in past cases where favorable regulatory or infrastructure headlines failed to translate into token buying, the announcement may have limited short-term price impact unless it leads to measurable demand or institutional flows. In the longer term, improved custody could support broader institutional access, but that benefit remains indirect. For now, BTC support, Fed-related volatility and XRP’s $1.25 level are more immediate trading considerations.