How Low Could Bitcoin, Ethereum, and XRP Go If Crypto Keeps Dumping?

Since the start of this month, the global crypto market has lost more than $180 billion, bringing its total value down to $2.64 trillion. The drop comes after Democrats won the midterm elections, raising fears of stricter crypto rules.

Bitcoin, Ethereum and $XRP are also showing signs of further losses as the market continues to fall. But how much lower could their prices go if selling continues?

Bitcoin Could Fall Toward $60K

On 5 November, Bitcoin fell below $75,000 after hitting $81K, following the release of the US Initial Jobless Claims report, which unexpectedly fell to 189,000 against expectations of 197,000.

Meanwhile, well-known crypto analyst Ali Martinez said Bitcoin is trading within a wide channel on the three-day chart. Now, the key level is the channel’s middle range near $73,000.

If Bitcoin loses that support, Martinez suggests the decline could extend toward the lower boundary of the channel around $60,000. This would represent a 20% drop from current levels and would put Bitcoin back near an area where buyers previously stepped in.

Ethereum Faces a Breakdown Toward $1,963

Ethereum is showing a weaker setup than Bitcoin after breaking below the $2,385 support level on its daily chart. The chart shows ETH falling out of a right-angled ascending broadening pattern, signaling that the previous structure has weakened.

With $2,385 now acting as a key level, continued selling could push Ethereum toward the next major support near $1,963.

The move would mark another significant decline from its current level around $2,245.

$XRP Could Test the $0.99 Level

$XRP is also under continued pressure after falling below $1.61 and breaking below the middle of its trading channel. The three-day chart shows $XRP falling from above $1.40 toward $1.18, with $1.29 now acting as an important level.

If sellers remain in control and the token fails to recover, the lower boundary of the channel near $0.99 becomes the next major support.

That level is particularly important because $XRP previously found strong buying interest around $0.99.