BTC and ETH Exhibiting Downtrend Trends as August Approaches, XRP Experiences Significant Selloff: Top Crypto asset to Invest in Now
A significant liquidation in the digital currency trading market has sparked speculation about the optimal crypto assets to purchase at this time. With BTC (Bitcoin) dropping from $117k to $113k, and ETH decreasing from $3.7k to $3.4k, the current market sentiment appears to be negative.
An X post from Maelstrom CEO Arthur Hays highlights that macroeconomic conditions, including sluggish credit expansion in major economies, are stunting nominal GDP growth and may contribute to pushing BTC and Ethereum down to the $100k and $3k thresholds.
Hays’ observations mirror a broader industry alarm that pressures from tighter credit conditions, increasing tariffs, and a softening labor crypto market might hinder crypto’s ascent.
Since reaching a peak of $123k on July 14, BTC has experienced a 7.7% decline, while Ethereum has dropped 12.5% after surpassing the $3.9k threshold on July 28, according to data from CoinCecko here. A fall to $100k would indicate an 18.7% retraction from BTC’s recent high.
Conversely, many experts in the industry argue that Bitcoin has largely moved past significant double-digit downturns. Eric Baluchnas, an ETF analyst with Bloomberg, has pointed out that following BlackRock’s submission for a spot Bitcoin ETF, the price swings surrounding the leading digital currency has lessened.
Bitcoin cycles, as we know them, are dead.
You can’t compare this phase to the ones that came before.
Not in scale.
Not in structure.
Not in what’s at stake.What we’re seeing now isn’t a reaction to supply, but how Bitcoin is being absorbed into the system.
It flows through…
— Eli Nagar (@EliNagarBrr) August 2, 2025
Meanwhile, the Fear and Greed index has fallen to 53 from 65 earlier this week, positioning itself in neutral territory. Nevertheless, analysts have asserted that the slump in BTC is merely a bullish adjustment.
Explore: Top Meme Coin ICOs to Consider in August 2025
XRP Trading Volume Climbs Amid Significant Selloff
XRP faced a steep decline yesterday, dropping nearly 9% from $3.02 to $2.75, but the bulls managed to recover it to $2.83. This downturn occurred during a significant institutional selloff, which caused the trading volume to exceed two times the average rate.
The XRP market experienced a severe hit during a tumultuous 24-hour stretch ending on August 3. On August 2, traders exchanged an astonishing 222.24 million XRP tokens, marking a staggering 183% increase from the standard daily average of 78.52 million.
XRP managed to stabilize at $2.75 but has encountered consistent price ceiling each time it moves above the $2.84 level.
$XRP is on the RISE!
— CryptoGoos (@crypto_goos) August 3, 2025
Currently, attention is focused on whether XRP can maintain its position at the $2.75 mark; a drop below this level would signal trouble. Conversely, a breakout above $2.84 is necessary to indicate the end of the downtrend trend.
In the past 24 hours, XRP has seen a decline of over 8.91% with a $0.27 price fluctuation. Despite possible accumulation accumulating beneath the $2.80 mark, the lack of buying pressure leaves the scenario uncertain.
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SharpLink Acquires $54M in Ethereum, Total Ethereum Holdings Reach $1.65B
SharpLink, the gaming firm, has again made a substantial investment in ETH, acquiring an additional 15,882 Ethereum valued at about $53.9 million.
According to data from Arkhan Intelligence here, this purchase occurred over multiple transactions, with the largest involving 6,914 Ethereum worth $23.56 million.
As a result, SharpLink’s total Ethereum holdings have grown to 480,031 Ethereum, which equates to about $1.65 billion based on current market valuations.
SharpLink has built a larger ETH position than most Layer 1 treasuries.
480,000+ ETH
$1.65B in exposure
If ETH is to become the new foundational layer of global finance, they are ahead of the curve.
They are serious players pic.twitter.com/JooU7iBM3W
— Christian Schumach (@chris_schumach_) August 3, 2025
Additionally, in the past 48 hours, the company has allocated $108.57 million USDC to secure 30,755 ETH at an average price of $3,530.
Explore: Top Meme Crypto token ICOs to Consider in August 2025
XRP Price Forecast for This Week
Market analysts indicate that the XRP four-hour price chart highlights a optimistic divergence, potentially resulting in a surge of 20% in the short term before the end of August.
They highlight that XRP’s price movements have established a pattern of lower lows, opposed to the higher lows demonstrated by the relative strength index (RSI). This divergence between price and the RSI frequently signifies a diminishing pessimistic momentum.
Support level at: $2.85237
Resistance level at: $2.89468
Current Price: $2.87066
Time: 2025-08-03 12:00:07#Ripple #XRP #XRPPriceAlerts pic.twitter.com/G8orX5gdWT—
The traditional falling wedge pattern on the four-hour chart suggests that XRP is on the brink of a price breakout. The XRP/USD pair rebounded from the lower boundary of the wedge around the 200-4H EMA (the blue wave), indicating that buyers are stepping in.
If XRP breaches the upper trendline, a rally of up to 20% could be initiated, potentially targeting the $3.60 to $3.65 zone, which coincides with the 0.236 Fibonacci retracement level near $3.07.
Explore: 9+ Best High-Risk, High-Reward Crypto to Consider in August 2025
Crypto Weekly Summary: Winners and Losers
As the week draws to a close, the digital currency crypto market reflects a blend of gains and losses.
CoinMarketCap’s data shows Bitcoin maintaining a stronghold at $114,181 amidst slight fluctuations. Ethereum follows closely at $3,509, while XRP rounds out the top three at $2.88 after experiencing a notable selloff.
The total market capitalization currently stands at $3.69 trillion.
Examining the top 100 digital assets, a selection of altcoins have excelled. The leading three non-BTC crypto gainers this week are FOUR (FORM), surging by 12.96%, followed by Toncoin (TON) at 11.49% and Story (IP) at 10.00%.
On the other hand, certain altcoins did not perform well, with Fartcoin (FARTCOIN) suffering a major decline of 30.55%, followed by Bonk (BONK) with a drop of 28.08% and Virtuals Protocols (VIRTUAl) losing 23.03%.
The post BTC And ETH Projecting Pessimistic Trends As August Approaches, XRP Experiences Significant Selloff: Best Crypto to Acquire Now first appeared on 99Bitcoins.
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