Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are trading under pressure at the time of writing on Thursday amid a confluence of weak market sentiment and deteriorating technical structures.
Tokenization has been the major narrative around the crypto market over the past year. Following US President Donald Trump's passage of the GENIUS Act for stablecoin regulation and the Senate's deliberation on the market structure CLARITY bill, every major crypto player has hopped on the trend.
Ripple (XRP) is trading under pressure, hovering above the immediate support level at $1.90 at the time of writing on Friday. Despite mild inflows into spot exchange-traded funds (ETFs), XRP has declined for a second consecutive day, reflecting weak retail demand and persistent selling pressure.