Crypto Market Crash: Bitcoin, Ethereum, and Ripple Plunge Losing Key Support Levels

Bitcoin ( BTC ) Current Price: Below $54,000Key Support Level: $54,000Market Impact: Significant decline leading the market correction.Ethereum (ETH):Current Price: Below $3,000Key Support Level: $3,000Market Impact: Lost gains ahead of the anticipated approval of the Spot Ether ETF.Ripple (XRP):Current Price: $0.38Key Support Level: Not specified, but at the lowest level in fifteen months.Market Impact: Steep decline affecting overall market sentiment.Market Capitalization:Total Market Cap: $2.121 trillionChange: Decreased by nearly 6%Summary:

The cryptocurrency market experienced a steep correction on Friday, with major cryptocurrencies like Bitcoin, Ethereum, and Ripple losing key support levels and extending their declines. Bitcoin dropped below the $54,000 mark, Ethereum fell under $3,000, and Ripple hit its lowest level in fifteen months at $0.38. This decline led to a 6% reduction in the overall market capitalization, which now stands at $2.121 trillion. The losses erased recent gains made by these cryptocurrencies in 2024, impacting investor sentiment and market stability.