The cryptocurrency market appears set to end the business week deep in the red after the $6.3 billion Binance hack sent shockwaves through the entire sector.<\/p>\n
The leading digital assets Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) did not escape the pullback, with one popular analyst suggesting they could plunge even more before attractive buying opportunities emerge.<\/p>\n
The primary cryptocurrency fell sharply after news of the multi-billion attack, dropping to a six-week low of around $76,500. Bulls temporarily reclaimed some losses and pushed the price above $78,500, but the sell-off continued, and as of press time, BTC trades near $76,700.<\/p>\n
Ali Martinez was among the many analysts commenting on the Binance hack<\/a> that led to the crypto bloodbath, saying<\/a> that, as reports spread, Bitcoin was rejected after retesting its 50-day moving average, with resistance falling toward $78K. He stated the next level to watch is the 200-day MA near $73,000.<\/p>\n \u201cThat\u2019s where I plan to reassess a BTC dip buy,\u201d he added.<\/p>\n For their part, Rekt Fencer drew an interesting parallel between the recent Binance attack, last year\u2019s Bybit hack<\/a>, and the FTX meltdown<\/a> in 2022. They noted that each catastrophe was followed by a major BTC price resurgence, claiming \u201cthe bottom is in.\u201d<\/p>\n ETH fared even worse than the leading cryptocurrency over the last 24 hours, temporarily slipping below $2,200 and currently trading just above that zone. According<\/a> to Martinez, the asset appears to have broken under a right-angled ascending broadening pattern on the daily chart, with the pattern pointing to a possible move toward $2K, which could become a buying opportunity if ETH finds support there.<\/p>\n X user Ted also weighed in, noting<\/a> that the asset tapped the crucial $2,200 zone. He believes a weekly close below this level could open the door to a drop under $2,000.<\/p>\n Ripple\u2019s cross-border token fell 4% on the day, currently trading near $1.23. Martinez thinks<\/a> it has moved inside a parallel channel since February, but during the latest market collapse it breached the structure\u2019s mid-range support at around $1.25.<\/p>\n \u201cIf it cannot reclaim that level, I\u2019m watching for a deeper correction toward the channel\u2019s lower boundary near $1,\u201d the analyst added.<\/p>\n EGRAG CRYPTO also commented<\/a>, arguing that the recent sell-off has given XRP investors a perfect buy-the-dip opportunity. The analyst claimed the asset is in the middle of an accumulation zone, which has historically been preceded by a 500% explosive move, setting $8-$9 as potential targets.<\/p>\n The post BTC, ETH, XRP Plunge After Binance Incident: Analyst Reveals Buy-the-Dip Levels<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The cryptocurrency market appears set to end the business week deep in the red after the $6.3 billion Binance hack sent shockwaves through the entire sector. The leading digital assets Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) did not escape the pullback, with one popular analyst suggesting they could plunge even more before attractive buying […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-246071","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/246071"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=246071"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/246071\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=246071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=246071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=246071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}How About XRP?<\/h2>\n