Massive liquidation in the crypto landscape has people wondering what the best crypto to buy now is. With Bitcoin (BTC) falling from $117k to $113k, and Ethereum sliding down to $3.4k from $3.7k, the market is currently looking bearish.
According to an X post by Maelstrom CEO Arthur Hays, macroeconomic factors such as weak credit expansion across leading economies are slowing down nominal GDP growth and could play a part in dragging BTC and ETH down to the $100k and $3k level.
Hayes’ remarks echo a wider industry concern that strains from tighter credit, rising tariffs and a cooling labour market could derail crypto’s upward trajectory.
Since its peak of $123k on 14 July, the BTC has slid 7.7% while ETH is down 12.5% since breaching the $3.9k barrier on 28 July, as per CoinCecko’s data. A retreat to $100k would represent an 18.7% pullback from BTC’s recent high.
On the other hand, many industry analysts have pointed out that the BTC is in many ways past any sort of double-digit pullbacks. Eric Baluchnas, Bloomberg’s ETF analyst, has noted that ever since BlackRock’s spot BTC ETF filing, the crypto king has faced lesser degrees of volatility.
Bitcoin cycles, as we know them, are dead.
You can't compare this phase to the ones that came before.
Not in scale.
Not in structure.
Not in what’s at stake.What we’re seeing now isn’t a reaction to supply, but how bitcoin being absorbed into the system.
It flows through…
— Eli Nagar (@EliNagarBrr) August 2, 2025
Meanwhile, the Fear and Greed index has dropped to 53 from Thursday’s 65 and is currently in the neutral zone. However, analysts have maintained that BTC’s drop is nothing but a bullish reset.
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XRP Trading Volume Surges Amid Massive Selloff
XRP witnessed massive downsides yesterday, tumbling nearly 9% from $3.02 to $2.75 before the bulls managed to claw back to $2.83. The decline came amidst a heavy institutional selloff, resulting in the trading volume surging to more than twice the norm.
The market hit XRP hard over a 24-hour volatile window ending on 3 August. On 2 August, traders exchanged a massive 222.24 million XRP tokens, an eye-watering 183% jump from its usual 78.52 million daily average
Incredibly, all this happened within a four-hour window on 2 August 2025.
XRP finally found its footing at $2.75 but has met with consistent resistance anytime it ventured above the $2.84 mark.
$XRP is BOUNCING!
pic.twitter.com/TUzeu47co3 — CryptoGoos (@crypto_goos) August 3, 2025
Currently, all eyes are fixated on whether XRP can hold its ground at the $2.75 level, as breaking below will mean trouble. On the flip side, it needs to break above the $2.84 level to signal that the bearish trend is over.
The 24-hour range shows that XRP dropped over 8.91% with a $0.27 price swing. While there might be a quiet accumulation forming under the $2.80 mark, without buying pressure, it is all just smoke.
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SharpLink Adds $54M in ETH, Now Holds ETH Worth $1.65B
SharpLink, the gaming company, has once again splurged on ETH, adding another 15,882 ETH, worth approximately $53.9 million, to its kitty.
As per Arkhan Intelligence’s data, the acquisition was executed across several transactions, with the largest involving 6,914 ETH worth $23.56 million.
With this, SharpLink’s total ETH holdings have surged to 480,031 ETH, which is worth about $1.65 billion based on current market prices.
SharpLink just built a bigger ETH position than most L1 treasuries
480,000+ ETH
$1.65B in exposure
if ETH’s the new base layer of global finance
they’re early and serious pic.twitter.com/JooU7iBM3W
— Christian Schumach (@chris_schumach_) August 3, 2025
Moreover, over the last 48 hours, the company has spent $108.57 million USDC to acquire 30,755 ETH at an average price of $3,530.
XRP Price Prediction This Week
Analysts suggest that the XRP four-hour price chart shows signs of a bullish divergence, which may result in a 20% short-term price surge by the end of August.
According to their calculations, XRP’s price action has been creating a series of lower lows, in contrast to the higher lows made by the relative strength index (RSI). This divergence between the price and the RSI often reflects a weakening of the bearish momentum.
3-Hour XRP Update: Price has changed by +0.01%.
Support level at: $2.85237
Resistance level at: $2.89468
Current Price: $2.87066
Time: 2025-08-03 12:00:07#Ripple #XRP #XRPPriceAlerts pic.twitter.com/G8orX5gdWT—
– #xrppricealerts (@xrppricealerts) August 3, 2025
The classic falling wedge on the four-hour chart signals that XRP is looking for a breakout. The XRP/USD pair bounced from the wedge’s lower edge around the 200-4H EMA (the blue wave), indicating buyers stepping in.
XRP price breaching the upper trendline could initiate a rally of up to 20% and potentially target the $3.60 – $3.65 range, aligning with the 0.236 Fibonacci replacement level near $3.07.
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Crypto Weekly Recap: Who Won And Who Lost?
As another week comes to a close, the crypto landscape resembles a mix of wins and losses.
According to CoinMarketCap’s data, BTC has maintained a dominant position at $114,181 despite modest fluctuations. ETH follows suit, trading at $3,509, and XRP rounding up the big three, trading at $2.88 after a heavy selloff.
The overall crypto market cap currently stands at $3.69 trillion.
Zooming in on the list of top 100 digital assets, a few altcoins have performed well. The top three altcoin winners this week are FOUR (FORM), leading the pack with a 12.96% uptick, followed by Toncoin (TON) at 11.49% and Story (IP) at 10.00%.
Conversely, some altcoins did not fare all that well, with Fartcoin (FARTCOIN) taking the biggest hit at 30.55%, followed by Bonk (BONK) at 28.08% and Virtuals Protocols (VIRTUAl) shedding 23.03%.
The post BTC And ETH Looking Bearish Heading Into August, XRP Sees Huge Selloff: Best Crypto To Buy Now appeared first on 99Bitcoins.
