The crypto market is stabilizing as Bitcoin (BTC) recovers above $85K, with Ethereum and XRP prices maintaining above $1,500 and $2 respectively. This comes after China announced new tariffs on U.S. imports in response to President Donald Trump’s 145% tariff on Chinese products. Additionally, this week’s CPI and PPI data came below expectation, boosting the prices of Bitcoin and altcoin markets. This has left room for a significant recovery rally in the coming week as buying demand rises exponentially.
Bitcoin Price Analysis
Bitcoin has surged above the crucial $85K level and is now aiming to maintain its recovery rally toward upcoming resistance channels. As of writing, BTC price trades at $84,864, surging over 3.2% in the last 24 hours.
If XRP manages to rise above the 200-day moving average, it would suggest that the recent drop toward $2 heavily attracted buying demand. In that case, the price could continue to climb toward the resistance line at $2.25, where sellers are likely to step in again. A surge above this level might send the price toward $2.6.
If the price drops from the $2.25 level, sellers might try to push XRP/USDT down to the key support at $2. Buyers will likely defend that level strongly, because if it breaks, the price could fall further to around $1.6.
