Bitcoin Fails to Break $81,000 Resistance: Warning of Sharper Decline for XRP

As Bitcoin pulls back after failing to break the $81,000 resistance, XRP is considered vulnerable to a sharper correction.

Following a rally that began around $64,420 on August 19, Bitcoin reached just below $80,700 on August 25. However, the price subsequently pulled back to the $76,500–$77,000 range. CoinDesk data has reignited the debate over whether this move will trigger a new wave of selling in the market.

The 50-week moving average of approximately $81,000, used to track Bitcoin’s long-term trend, has become a critical level for the bearish outlook. Frank Hepworth, CEO of New Market Trading, viewed the price’s failure to break this resistance as a significant sign for a bearish outlook. According to him, if selling pressure intensifies, Bitcoin could first drop to $70,000, and in a sharper pullback, decline as far as $58,000.

Correction risk grows for Bitcoin and XRP

The rapid surge, brief sideways movement, and subsequent reversal are forming what is known as a “Bart Simpson” pattern on the chart. However, this structure is not yet considered complete. Mati Greenspan, founder of Quantum Economics, stated that Bitcoin would need to drop at least 20 percent for the pattern to be valid and expressed doubt that such a move would occur.

XRP followed a similar trajectory. After rising from approximately $1 to the $1.52–$1.70 range, the price fell back to around $1.32. The XRP/BTC pair, which shows XRP’s performance relative to Bitcoin, dropped below its 20-week average, indicating that XRP has weakened relatively. Hepworth predicted that if Bitcoin pulls back to $70,000, XRP could drop to the $0.55–$1.21 range, and if Bitcoin retreats to $58,000, it could fall to $0.46. While these levels stand out as analyst scenarios, some investors believe the rally will continue.