$BTC , $ETH , and $XRP are three major cryptocurrencies, and when the overall market moves into a downtrend, they usually decline together. The current price drop is mainly due to market correction and profit-taking. After strong upward moves, large traders often sell to lock in gains, increasing supply and pushing prices lower.
Bitcoin (BTC) is the market leader, so its movement strongly influences the entire crypto market. When BTC falls, investors reduce risk, and many altcoins follow the same direction.
Ethereum (ETH) is closely tied to decentralized finance (DeFi) and smart contract activity, so market sentiment, network usage, and investor confidence play a major role in its price changes.
XRP is linked to payment systems and cross-border transactions, and its price often reacts quickly to news, speculation, or sudden trading volume shifts.
Liquidation happens when leveraged or futures traders’ positions move against them and the exchange automatically closes their trades to prevent further losses. Large waves of liquidation can accelerate price drops.
A default or baseline price level is where strong support forms. If support holds, prices may rebound. If it breaks, further downside becomes more likely.