Price forecast for Bitcoin, Ethereum and Ripple as bulls seek to regain control

2nd February 2025 – (New York) The cryptocurrency market has seen a notable downturn, with top tokens like Bitcoin, Ethereum, and Ripple falling below key support levels, leading to heightened bearish sentiment. This recent price action has drawn the attention of major investors and institutions, prompting many to assess their short-term investment strategies.

Bitcoin has experienced a decline of 2.77% in the past 24 hours, with trading volume reaching $37.231 billion. Over the last week, it has dropped 5.38%, but its market cap remains robust at $1.962 trillion, granting it a market dominance of 57.68%. The Moving Average Convergence Divergence (MACD) indicates a rising red histogram and a negative crossover of its averages, reflecting mixed sentiment. If bulls can maintain Bitcoin above the $100,000 threshold, it may target an upper high of $108,000. Conversely, a bearish trend could see it fall to a low of $92,000

Ethereum has also displayed bearish behaviour, recording a 4.49% drop in 24 hours and a 6.52% decline over the past week. The coin has fallen 10.35% in the last month, with a year-to-date return of -7.08%. The Relative Strength Index (RSI) has sharply declined towards the oversold zone, indicating increased negative market pressure. Should bullish momentum return, Ethereum could retest its high of $3,300; however, if bearish forces prevail, it may retreat to the critical support level of $3,000.

Ripple’s price has decreased by approximately 1.5% in the last 24 hours and roughly 2% over the week, yet it has shown a notable 17.79% increase over the past month, with a year-to-date return of +36.79%. The EMA 50/200-day indicates a consistent uptrend, but the MACD shows a persistent decline in the red histogram, signalling growing bearish sentiment. If bulls regain traction, XRP could test its resistance level of $3.50; however, intensified bearish pressure could pull it down to around $2.50.