Bitcoin fell below $89,000 early Tuesday in Europe. It hit $88,500, the lowest since November. The drop happened as tech stocks fell and the Japanese yen got stronger.

Bitcoin struggled despite Trump’s support for crypto. Three U.S. states — Montana, North Dakota, and Wyoming — rejected plans for state Bitcoin reserves. Policymakers are worried about using taxpayer money for risky investments.

Analyst Valentin Fournier said a national Bitcoin reserve might work better. He suggested backing it with bonds or selling some U.S. gold reserves. This could reduce political risks.

According To CoinDesk: Bitcoin’s fall matches a global drop in money supply. Andre Dragosch from Biwise said Bitcoin often lags behind money supply changes. The good news? The money supply has stabilized, so Bitcoin could bounce back soon.

Traditional markets are shaky. Nasdaq futures fell 0.3%, extending a three-day losing streak. The Nasdaq index has lost over 4% since February 18.

The Japanese yen is rising. It traded at 149.38 per U.S. dollar, close to a three-month high. The yen has gained 6% in six weeks. Investors expect the Bank of Japan to raise interest rates.

The last yen surge caused a Bitcoin crash. In July, Bitcoin dropped from $65,000 to $50,000 in days. Researcher Joseph Wang warned that sudden yen strength can trigger risky market sell-offs.

For now, crypto markets remain on edge. Keep an eye on global money trends and traditional markets. Bitcoin’s next move could depend on them.

XRP Price Drops 9% — Could It Fall to $1.60?

XRP’s price has fallen over 9% today. It now trades at $2.25. The drop comes as the whole crypto market crashes. XRP’s trading volume, however, jumped 139% to $8.33 billion.

CoinGape Reports says: The coin slipped from its 24-hour high of $2.60. The Relative Strength Index (RSI) is close to the oversold zone. This could signal a chance for a strong recovery. Futures Open Interest also dropped 15% to $3.18 billion. This shows that investors are less willing to take risks right now.

Key Support and Resistance Levels

Market expert EGRAG CRYPTO has shared key price zones for XRP. He said if XRP falls below $2.30, it might drop to $1.60.

Here’s what to watch:

• Closing below $2.30: Bearish signal
• Closing above $2.60: Bullish signal
• Closing above $2.85: Super bullish signal
• Closing above $3.11: Possible new all-time highs

Investors are watching these levels carefully. A breakout could decide XRP’s next big move.

Market Trends and Whales’ Impact

Positive news hasn’t stopped XRP’s price drop. Donald Trump recently mentioned XRP, sparking market talks. This led to rumors of a possible U.S. XRP reserve.

Despite the hype, big investors (whales) seem cautious. They sold over 81 million XRP coins to exchanges. This heavy selling added pressure to XRP’s price.

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