Why is crypto down today? 3 coins to avoid market downturn XRP, DOGE and TRON
The crypto market took a hit today as Bitcoin dropped below a key support level, weighed down by profit-taking and broader macro concerns.
On Thursday, May 15, afternoon Asian time, the total crypto market cap slid by 4.8% to $3.39 trillion. Bitcoin (BTC) dipped 1.6% to around $101,846, losing the $103,100 support level.Â
Analysts are now watching the $101,600 mark as the next crucial level that it needs to hold to keep the recent bullish momentum alive.
This dip comes right after the latest U.S. Consumer Price Index (CPI) data was released. Inflation for April came in lower than expected, rising just 2.3% year-over-year—the slowest pace since 2021, and down from March’s 2.4%.
While low inflation can be a good sign, it also hints at weakening consumer demand, which could point to underlying recession fears.
Interestingly, even though Trump’s new tariffs haven’t fully trickled down to consumer prices yet, the softer inflation print probably won’t be enough to convince the Federal Reserve to cut interest rates, despite pressure from Trump.
Rate cuts are something the crypto traders have been hoping for, since lower rates usually boost liquidity and risk appetite.
Investors are also in wait-and-see mode as they await the U.S. Producer Price Index (PPI) data coming out later today at 12:30 PM UTC. The report should give more clues about inflation, which could play a big role in what the Fed decides to do next with interest rates.
Most market experts believe the Fed is likely to keep interest rates steady, and that’s prompted many traders to lock in profits, especially after Bitcoin’s strong run above the $100,000 mark.Â
While most of the market is sliding, some altcoins may be better positioned to ride out the downturn.
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Ripple (XRP)
XRP has been one of the most consistent performers since the start of 2025, helped by a string of bullish developments around Ripple and its ecosystem. The SEC recently reduced Ripple’s fine to $50 million, effectively ending the long-running lawsuit and reinforcing XRP’s non-security status.
XRP will also be in the spotlight this week as investors watch for the upcoming launch of CME’s XRP futures on May 19 and await a key SEC decision on a proposed ETF linked to XRP next month.
On the daily chart, XRP has bounced back nicely after hitting a low of $1.6218 in April. It’s now trading above both the 50-day and 100-day moving averages, which is a bullish sign.
XRP price, 50-day and 200-day EMA chart — May 15 | Source: crypto.news
XRP has also formed an inverse head-and-shoulders pattern, a classic signal that often points to a trend reversal. The “head†is around $1.62, and the two “shoulders†are near the $2 mark.
While the rally could keep going, there’s also a chance XRP might dip to retest the $2.21 support level before moving higher again. This kind of move, known as a break-and-retest, is actually seen as a strong bullish setup.
If current trends hold, XRP could climb back to its year-to-date high of $3.40, reflecting a potential 36% upside from its current price.
Tron (TRX)
TRX has gained steady traction in this bull cycle, supported by TRON’s expanding role in the stablecoin market and rising on-chain activity. The network recently surpassed Ethereum in total USDT supply, cementing its position as a key infrastructure for stablecoin transfers, particularly in emerging markets.
Other bullish drivers include TRON’s growing integration with real-world asset platforms and its sustained dominance in daily active addresses and transaction count, which have consistently outpaced most layer-1 networks in 2025.
On the daily chart, TRX has bounced back nicely from support at $0.21, climbing to nearly $0.28 this week. It finally broke above the $0.25 resistance level, which had been a tough resistance level since January.
TRX price, 20-day and 50-day EMA chart — May 15 | Source: crypto.news
Tron is now trading inside an ascending channel and sitting just below the top of that range. It’s also moved above the 20-day and 50-day EMAs, which usually signals strength.
If TRX breaks above the $0.28 level, it could push higher toward the $0.45 mark, last year’s high, which would be a 66% jump from current prices.
Dogecoin (DOGE)
Dogecoin (DOGE) has surged over 42% in the past month and was trading at $0.22 when writing.
The rally comes amid rising institutional interest. Grayscale recently launched a dedicated Dogecoin trust, while 21Shares partnered with House of Doge to introduce DOGE-based exchange-traded products in global markets.
Separately, the Dogecoin Foundation is working to advance real-world adoption of the original memecoin. In collaboration with House of Doge, it aims to onboard one million retailers through the Dogebox toolkit, an open-source solution for integrating DOGE payments.
All of these point to a maturing ecosystem, where Dogecoin has evolved from its memecoin roots into a credible player within the broader decentralized landscape.
On the daily chart, DOGE has broken above $0.242, a key resistance level it struggled with back in March.
DOGE price, MACD, and RSI chart — May 15 | Source: crypto.news
It’s also formed a textbook head-and-shoulders pattern over the past few weeks. In technical analysis, this setup often points to a potential trend reversal or continuation.
Adding to the bullish signs, both the MACD and RSI indicators are pointing upward. The RSI is currently at 62, which suggests there’s still room for more upside.
With this momentum, DOGE is well-positioned to return to its year-to-date high of $0.436, which would translate to a 93% rally from current levels.
Read more:Over 80% of Bitcoin is held by wallets with 10 BTC or more, data shows
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
2025-05-15 18:30:26
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