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Bitcoin slides to $58,115, a new 2026 low, with weekly losses over 7%; ETH and XRP also under pressure, signaling broader market weakness.
Bitcoin fell to $58,115 on Friday, marking its lowest price of the year and extending a weekly decline of more than 7% as bearish pressure grips the crypto market【3】. The drop matters because Bitcoin’s move often sets the tone for altcoins, and both Ethereum and Ripple are slipping further into downside zones.
| At a glance | |
|---|---|
| BTC price | $58,115 (fresh yearly low) |
| BTC weekly change | –7%+ |
| Key BTC support | $55,000 horizontal level |
| Catalyst | Broad selling pressure across top cryptos |
| ETH price | $1,550 (below key support) |
| XRP price | $1.91 (below 50‑day EMA) |
The sell‑off is reflected across the top three cryptocurrencies. Bitcoin is trading well below its 50‑day, 100‑day and 200‑day EMAs ($67,863, $71,246 and $77,115 respectively), underscoring a bearish structural bias【3】. Ethereum has slipped beneath $1,550, breaking a key support level that had previously held the token above $1,600, while Ripple’s price sits at $1.91, a rejection from the 50‑day EMA at $2.04 and a decline of more than 8% since the weekend【2】【3】. Momentum indicators—RSI below 50 for both ETH and XRP and a bearish MACD crossover for BTC—reinforce the downward bias.
Ripple’s downside is compounded by a bearish medium‑term trend: its 50‑day and 200‑day moving averages remain above the current price, and institutional interest is waning, with Goldman Sachs having fully exited its XRP ETF position in Q1 after a $154 million holding【1】. Ethereum’s price action mirrors its earlier correction, where a daily resistance at $3,017 now sits well above the current $2,964 level, suggesting further downside toward the $2,749 Fibonacci zone【2】. Bitcoin’s broader market context includes a modest RSI lift to 30‑ish, hinting at oversold conditions, but a MACD that is still rolling lower, indicating that any short‑term bounce may be fragile【3】.
| Token | Current price | Key resistance | Key support |
|---|---|---|---|
| BTC | $58,115 | $64,004 (horizontal) | $55,000 |
| ETH | $1,550 | $3,017 (daily) | $2,749 (Fibonacci) |
| XRP | $1.91 | $2.04 (50‑day EMA) | $1.77 (Dec 19 low) |
The significance lies in Bitcoin’s ability to anchor market sentiment; if it fails to reclaim the $55,000 support, the bearish momentum could push Ethereum and Ripple into deeper corrections, extending the current crypto downturn.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 1, 2026 · How we report
LendProtocol provides a fixed 12% APR on XRP deposits, with daily compounding resulting in an effective annual yield of approximately 12.75%.
Borrowers must post at least 120% collateral, and LendProtocol absorbs all credit and default risk, protecting depositor principal.
XRP is trading around $1.04 in July, down about 20% from the previous month, mirroring a broader market decline rather than Ripple-specific issues.
Spot XRP ETFs have attracted about $1.48 billion, Ripple joined the Open USD stablecoin project, and the pending CLARITY Act, which could classify XRP as a commodity, may influence future price movements.
LendProtocol operates independently and is not affiliated with Ripple Labs or the XLS‑66 protocol.