Bitcoin Retests 50-Day SMA as Bulls Battle Bearish Pressure; XRP Risks Bearish Shift Below Cloud

Bitcoin is once again testing a crucial support level—the 50-day simple moving average (SMA)—raising the stakes for bulls hoping to keep the uptrend alive.

There’s a saying in markets: “Once is a chance, twice is a coincidence, and the third time is a trend.” Right now, that adage perfectly fits bitcoin (BTC), which has slipped back to its 50-day SMA for the third time this month. On two earlier occasions in June, this level held firm and sparked rebounds.

The current retest offers an opportunity for buyers to establish a pattern in which the 50-day SMA becomes a launchpad for further gains. However, if bitcoin decisively breaks below this support, it could unleash intensified selling pressure and risk pushing prices under the $100,000 mark.

So far, signs of buyer exhaustion are emerging. Recent rebounds from the 50-day SMA have grown weaker. The initial test on June 5 saw BTC bounce from around $100,500 up to over $110,000. But during the second test on June 17, the rebound was shallower, lifting prices from $103,000 only as far as $109,000.

Adding to the uncertainty, last week’s Doji candle—a pattern that signals market indecision—reflects fading bullish momentum above $100,000. To revive a stronger bullish outlook, traders say BTC needs a convincing, high-volume move above $110,000.

XRP Faces Potential Breakdown

Meanwhile, XRP (XRP) could be heading for deeper losses, similar to dogecoin (DOGE) earlier this month. XRP is currently trading near the lower edge of the Ichimoku cloud, a technical indicator that tracks momentum and potential trend reversals.

Typically, when prices fall below the Ichimoku cloud, it signals a bearish shift. That’s precisely what happened with DOGE recently, triggering further declines. Traders often treat this kind of crossover as a warning to reduce exposure or initiate short positions, especially if other indicators confirm bearish momentum.

Adding to the pressure, XRP’s 50-day SMA has already crossed beneath its 200-day SMA—a technical pattern known as a “death cross,” widely viewed as a bearish signal. A move below the Ichimoku cloud could expose XRP to further downside risk, potentially dragging the price below the $2 level.

On the charts, immediate support lies near $1.60, which marks the low from early April. Other major altcoins like DOGE, ADA, and LINK have all slipped beneath their Ichimoku clouds recently, resulting in notable price declines.