Bitcoin, ether and XRP downside levels in focus as sell-off deepens

What happened

Two market reports dated Nov. 7 described how much further bitcoin, ether and XRP could fall if the current crypto sell-off intensifies. CryptoPotato and Coinpedia both cited analyst Ali Martinez, who mapped support zones on three-day and daily charts. CryptoPotato said Martinez shared the levels with nearly 170,000 followers on X.

For bitcoin, Martinez placed the key level at about $73,000, described as the middle of a broad channel on the three-day chart. A decisive loss of that support would shift attention to the channel's lower boundary near $60,000, according to both reports. CryptoPotato noted that bitcoin had already fallen from $87,000 to around $76,000. Coinpedia said a move to $60,000 would amount to a roughly 20% decline from then-current levels and would return the price to an area where buyers had previously stepped in.

Ether looked weaker in the same analysis. Martinez said ETH had broken below $2,385 and out of a right-angled ascending broadening pattern on the daily chart, with a measured move pointing to about $1,963 if selling pressure continues. Coinpedia put ether around $2,245 at the time. For XRP, the reports said the token had lost the middle of its trading channel, making the lower boundary near $0.99 the next level to watch. Coinpedia cited both a break below $1.61 and a three-day chart move from above $1.40 toward $1.18, with $1.29 named as an important level.

Why it matters

The levels matter because they are the points where the reports say buyers previously intervened or where chart structures imply the next support. A decisive break below them could deepen the correction and force another round of loss estimates. Coinpedia said the global crypto market had shed more than $180 billion since the start of the month, leaving total value at $2.64 trillion. That backdrop makes the support tests more than isolated chart levels: they are being watched as gauges of whether the sell-off broadens or stabilizes.

What the data shows

The figures cited across the two reports include $73,000 as bitcoin's mid-channel support and $60,000 as the lower boundary; $56,000 in Bren's scenario; $2,385 as ether's lost support and about $1,963 as the measured-move target; and $0.99 as XRP's lower channel level. Coinpedia also cited $1.29 as an important XRP level, a $180 billion drop in global crypto market value to $2.64 trillion, and jobless claims of 189,000 against a 197,000 forecast. Santiment, cited by CryptoPotato, said only one of the most profitable XRP wallets it tracks was long, and that wallet had not traded since August, while three active short positions had added about 2.1 million XRP since late October.

Background

Coinpedia linked the market pressure partly to the Democrats' midterm election victory and fears of stricter crypto rules. It also said bitcoin fell below $75,000 on Nov. 5 after reaching $81,000, following a US Initial Jobless Claims report that came in at 189,000 versus expectations of 197,000. CryptoPotato noted that another analyst, Bren, had warned bitcoin could fall to $56,000, a fresh multi-year low, before recovering and potentially setting a new all-time high next year. The reports also recalled XRP's August dip to $0.99, which was followed by a 70% rally in 72 hours to $1.70.

What is still unclear

The reports did not include a $100,000 bitcoin target or a timeline for a recovery to that level; their focus was on downside support. They also described bitcoin and XRP at different price stages, reflecting fast-moving market conditions. Neither report offered a firm probability for any of the downside scenarios.

What to watch

Market watchers will focus on whether bitcoin holds near $73,000, whether ether stabilizes around $2,385, and whether XRP recovers above $1.29 or tests $0.99. A decisive break below the cited supports would keep the lower targets in play, while a rebound would shift attention back to the resistance levels mentioned in the reports. Regulatory headlines after the midterm elections and broader market sentiment are also part of the backdrop described by Coinpedia.

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