Bitcoin, Ethereum, Ripple Hold Key Price Levels

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Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) held steady on Friday after sharp losses the previous day, as traders weighed stronger-than-expected U.S. inflation data and its potential impact on the cryptocurrency market.

On Thursday, the Bureau of Labor Statistics released the latest Producer Price Index (PPI) figures, which exceeded economists’ forecasts. The PPI measures the average change over time in the selling prices received by domestic producers for their output and is a widely watched indicator of inflation pressures in the economy. Higher-than-expected readings reinforced concerns that inflation in the United States is not easing as quickly as hoped.

Following the data release, Bitcoin fell 4% to near $63,200, Ethereum dropped 4.26% to around $3,150, and Ripple slid 5.96% to $0.55. By Friday’s Asian trading session, however, the three leading cryptocurrencies had stabilized near their key technical support zones. Analysts said the pause suggested that buyers were stepping in to prevent deeper declines, though sentiment remained cautious.

The reaction in digital assets mirrored a broader “risk-off” move in financial markets, with equities also under pressure after the inflation data. Rising inflation raises the likelihood that the Federal Reserve could maintain higher interest rates for longer, which typically weighs on speculative assets such as cryptocurrencies.

Technical charts show that Bitcoin’s immediate support lies between $62,500 and $63,000, while resistance remains near the $65,000 level. Ethereum’s critical support is seen at $3,100, with resistance around $3,250. Ripple, meanwhile, is facing resistance at $0.58, while holding support at $0.54. Traders noted that a break below these support levels could trigger further selling, but a rebound toward resistance could attract short-term buying.

Despite the latest pullback, Bitcoin remains up more than 40% year-to-date, supported by increasing institutional interest and demand for spot Bitcoin exchange-traded funds in the United States. Ethereum has gained over 35% so far this year, partly driven by upgrades to its blockchain network and growing adoption in decentralised finance applications. Ripple’s performance has been more volatile, influenced by ongoing regulatory developments and market sentiment around its legal battle with the U.S. Securities and Exchange Commission.

Market participants are also keeping an eye on upcoming U.S. economic reports, including retail sales and consumer sentiment data, which could further influence the Fed’s policy outlook and, by extension, cryptocurrency prices. In Asia, traders are watching regulatory signals from key markets such as Hong Kong and Singapore, where recent initiatives have aimed to attract more crypto-related businesses while tightening compliance standards.

While short-term volatility is likely to persist, analysts say the broader uptrend in major cryptocurrencies remains intact, provided macroeconomic conditions do not deteriorate significantly. Long-term investors appear to be using dips as opportunities to accumulate positions, while short-term traders are focused on navigating technical ranges.