Crypto Market Recovery After Major Liquidation: BTC, ETH, XRP, SOL, TRX Price Prediction

Key Takeaways

• The crypto market marked a historic crash on Friday, October 10, following the U.S president’s announcement imposing a 100% tariff on China.
• The crash wiped out nearly 20 billion dollars.
• The crypto market had shown strong signs of recovery as the macroeconomic pressure eased.  
• Dominant Tokens such as BTC, ETH, XRP, SOL, and TRX renounced.

The crypto market marked a historic crash on Friday, October 10, following the U.S president’s announcement imposing a 100% tariff on China. One of the most violent crashes in crypto history has wiped out nearly 20 billion dollars from the cryptocurrency market. The 4 trillion market cap has plunged to 3 trillion. Yet, the crypto market has rebounded with leading tokens and popular altcoins showing remarkable resilience. The recovery shows that the crash was a response to panic caused at the macroeconomic level and has nothing to do with the blockchain fundamentals. According to experts, the wipe-out and the liquidity reset are signs of the crypto market’s integration with the larger economy rather than its weakness. 

The crypto market had shown strong signs of recovery as the macroeconomic pressure eased.  The flagship coins, such as Bitcoin (BTC) and Ethereum (ETH), have recovered and are currently trading above their 200-day moving averages. 

The BTC and ETH Stages a Strong Comeback After the Bloodbath

The BTC is currently trading around $115,207.43. The BTC price had earlier plunged more than 10% after the record wipe-out triggered by unpredictable macroeconomic waves. From there, the world’s largest cryptocurrency has recovered, supported by strong institutional activity. The Exchange Traded Funds, Whales, and the corporates showed renewed interest from stakeholders, reducing the selling pressure, thus facilitating a recovery. These show the fundamentals remain strong for the BTC, often referred to as the digital gold.

The BTC is trading above the 200-day Simple Moving Average (SMA) of $ 105,456, and the Relative Strength Index of 47.47 shows that the market has moved from panic to a cautious optimism stance. The ETH is similarly trading above its 200-day Simple Moving Average of $ 3,164.95. The ETH earlier fell by around 11% amid the panic-fuelled crash, yet at the time of writing, it is trading around $4,172.72 with a market cap of $503.47 billion. The recovery of $4000 psychological level is sending strong technical signals; moreover, the institutional activities around the ETH have also heightened. The spot Exchange Traded Funds recorded inflows of more than $700 million in the past week. 

Popular Altcoins Follow: XRP, SOL, TRX Rebounds 

The popular altcoins such as XRP, SOL, and TRX have rebounded as the larger crypto market has shown strong signs of recovery, led by the leading crypto tokens BTC and ETH, after liquidations nearing $20 billion. 

The XRP is currently trading around $2.62 after overcoming the resistance at $2.55. The upward trend is driven by increased institutional interest, whale activity, and mixed technical signals. The XRP is trading above its 200-day Simple Moving Average, but the 14-day RSI remains at oversold territory with at 26.31. The SOL, the hardest hit from the crash, showed a stronger comeback and is currently trading at $197.51, backed by anticipations regarding the U.S. Securities and Exchange Commission (SEC) approvals for the Exchange Traded Fund. Another popular altcoin, TRX, is trading at $0.3233 at the time of writing the article. The TRX earlier had defended critical support at $0.3, and its stablecoins are faring well, further reinforcing a stronger TRX.

Crypto Price Predictions: Will the Dominant Crypto Tokens Continue Upward Trajectory?

The price of the world’s largest cryptocurrency is expected to go up in the upcoming week, the crypto experts forecast a price ranging from $ 115,919 to $ 144,491, with a Return on investment of 25.64. Whether BTC can hold $113.5 K support level is crucial to ensure a sustained momentum. Besides, historically, October is the month when BTC becomes stronger, the sentiment popularly called as Uptober effect. 

As for ETH, the crypto analysts are closely watching whether ETH can hold $4,250 level, which would confirm a sustained uptrend and rally. The ETH price prediction projects a price range of $ 4,163.90 and $ 6,877.47 for the upcoming months of this year. The crypto experts are not ruling out ETH hitting above $5000 and beyond. 

On the other hand, the price of XRP is forecasted to remain in $ 2.48 – $ 3.02 range, SOL is predicted to hit a range of $194.64 to $212.24, while TRX’s price projection includes $ 0.32335 and $ 0.362501. 

The optimism after the record wipeout shows that the crypto market is resilient but is not immune to broader geopolitical developments. Therefore, crypto experts are not ruling out pullbacks and further ripples if the trade talks between the U.S and China do not progress smoothly. The crypto market participants need to keep their expectations realistic and should keep in mind that the highly rewarding market is equally risky.