Crypto Market Watches XRP and Zcash as Price Pressure Continues
Technical indicators remain the main focus in the crypto market as assets like XRP, Zcash (ZEC), Toncoin, and Shiba Inu continue searching for short-term direction. Recent market data shows XRP losing an important support level, while some cryptocurrencies are starting to recover after recent heavy selling.
XRP loses key support, traders stay cautious
XRP is currently under pressure after falling below its important support level at US$1.30. On the daily chart, XRP is still trading below major moving averages, while the 200-day moving average sits near US$1.60, showing weakness in the current trend.
A major concern came after XRP broke out of a descending triangle pattern that had formed between March and May. Buyers tried to defend the US$1.30 area, but stronger selling pressure pushed the price lower. XRP is now trying to stabilize around US$1.14.
Momentum indicators such as RSI briefly entered oversold territory and recovered slightly, but this is not yet enough to confirm a trend reversal.
If XRP fails to hold current levels, the next important support could return near US$1.00. Traders are watching for stronger buying volume and a move back above US$1.30 as signs of recovery.
Zcash rebounds after heavy sell-off
Unlike many altcoins, Zcash (ZEC) has shown stronger recovery after facing one of the biggest sell-offs this month. ZEC dropped sharply from above US$600 to around US$250 within days, before bouncing back and stabilizing near US$430.
The sharp decline was triggered by the discovery of a software bug that allowed unauthorized creation of new ZEC tokens. This caused panic selling and large liquidations across the market.
In crypto trading, liquidation happens when leveraged positions are automatically closed by exchanges because traders no longer have enough collateral. This often causes sudden price volatility.
Despite the incident, buyers quickly returned and helped prevent a deeper collapse. ZEC is still trading above its 200-day moving average near US$370, with US$400 acting as support, while the US$450–500 area remains key resistance.
