Date: Fri, March 28, 2025 | 08:20 AM GMT
The cryptocurrency market has once again turned bearish after a brief green week. Ethereum (ETH) has declined by over 5% in the last 24 hours, adding downward pressure on altcoins like XRP and Kaspa (KAS).
Meanwhile, Kaspa (KAS) has already suffered a 38% drop over the last 90 days after breaking down from a key bearish pattern. Now, XRP appears to be mirroring KAS’s price action, suggesting a potential downside move.
KAS and XRP Chart Comparison
The left-side chart shows Kaspa (KAS) in a clear downtrend after breaking down from a bearish head and shoulders pattern. This breakdown, combined with the loss of the 50-day and 100-day moving averages (MAs), sent KAS tumbling towards its support zone at $0.054 before making a minor recovery to $0.072.
Meanwhile, the right-side chart of XRP exhibits striking similarities to KAS. XRP has also formed a head and shoulders pattern and recently lost support at the 50-day MA. The price is currently trending downward, approaching its crucial 150-day MA support (marked in the chart).
This 150 MA level could act as a turning point—if XRP bounces off this level, the breakdown scenario might be invalidated. However, if XRP fails to hold this support, the next major support zone sits at $1.97, where a final decision will be made on whether XRP will break down further like Kaspa.
Final Thoughts
Both Kaspa and XRP have followed similar bearish structures, with KAS already breaking down, while XRP is still at a critical decision point. If XRP holds the 150-day MA, it may avoid a steep decline, but if it loses this support, further downside could be on the horizon.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.