Trading

On March 8, Glassnode reported that about 36.8 billion XRP, close to 60% of its circulating supply, is currently held at a loss, implying roughly $50.8 billion in unrealized losses. XRP is trading around $1.34, more than 63% below its July 2025 peak of $3.65, while derivatives volume on platforms such as BitMEX and Binance has surged even as spot activity appears subdued. Analysts remain divided on the next phase of the market cycle, with some highlighting extended consolidation and others warning of a possible retest of price levels below $1.

Navigate the March 2026 market gauntlet with our breakdown of the top 5 events, including critical US CPI, Core PCE, and housing data. Learn how these inflation triggers will define the Federal Reserve’s next interest rate move and impact high-beta assets like Bitcoin, Gold, and the U.S. Dollar.

XRP has been locked in a multi‑month downtrend but is now trading around $1.34 as key moving averages and an ascending support line start to converge. The first resistance appears in the $1.40–$1.42 area, with a broader EMA cluster between $1.53 and $1.75 that could redefine the structure if broken. Volume spikes and subsequent stabilization after the early‑February sell‑off suggest the market may be shifting from capitulation toward a potential base, though the overall trend remains technically bearish.

According to CryptoQuant contributor Darkfost, about 43% of Bitcoin supply held in UTXOs is currently below its cost basis, leaving 57% in profit while BTC trades around $67,730. He notes this distribution sits close to a historical boundary between sustained bull markets and deeper corrective or bear phases, and ties the on-chain weakness to rising oil prices and geopolitical tensions around the Strait of Hormuz.

Bitcoin is trading in positive territory this morning even as major Asian stock indices suffer sharp losses, with South Korea's KOSPI down more than 9% and Japan's Nikkei off 6.5%. BTC climbed from the $67,100–$67,200 area to a peak near $67,600 around 04:25 UTC and is now changing hands at 67,816 as bulls try to build a higher support zone. Analyst Willy Woo expects the asset to remain in a broader bear market phase while potentially rallying toward the mid-$80,000 range as a possible bull trap into late April.

On March 9, 2026, analyst Dave the Wave said Bitcoin has entered the "buy zone" of his logarithmic growth curve model, indicating the harshest part of the recent correction may be finished. He noted that, based on this framework and Fibonacci levels, any further downside could remain within an area he views as tolerable, with potential support around $56,500 and a lower bound near $50,000. Bitcoin was trading near $67,242 at the time, having gained modestly on the day.

Cardano’s price has been sliding for months, with crypto analyst Lingrid warning that ADA could extend its decline while trading below key resistance around $0.26–$0.27. The coin remains under a descending trendline and has logged five straight red monthly closes, with March already down more than 11%. Historical data from 2021–2022 show a similar six-month red streak that was followed by a brief rebound and then deeper losses, and Lingrid suggests a comparable pattern could emerge again if bulls fail to reclaim higher levels.

On March 8, Hyperliquid's HYPE token traded around $30–31, with daily technicals showing price near the upper Bollinger Band and an RSI near 47, indicating neutral momentum. Key supports sit around $29, $27 and $25, while resistance is clustered near $31.5, $33.14 and the recent $36.77 high. At the same time, weekend oil-linked futures on Hyperliquid reportedly climbed about 5% toward $94 per barrel, adding to expectations of higher platform fee flows and continued token buybacks.

XRP extended its decline below $1.3650 and $1.3550 and is now trading under $1.3620 and the 100-hour Simple Moving Average while it consolidates recent losses. The price faces immediate resistance at $1.3520 and $1.3800, with stronger barriers at $1.3980 and $1.4250 that could cap any recovery. On the downside, support is seen around $1.3365 and $1.3220, and a break below these zones could open the way toward $1.3120 and potentially $1.30.

Driven by a near-total blockade of the Strait of Hormuz, global energy markets have entered a historic "war premium" rally as WTI and Brent decisively clear the $100 and $110 thresholds for the first time since 2022. This 2026 supply squeeze, which has sidelined 20% of global oil, is fueling extreme volatility and a massive surge in decentralized hedging on platforms like Hyperliquid. While the Trump administration weighs a Strategic Petroleum Reserve (SPR) release to inject liquidity and fill price gaps near $90, technical indicators remain parabolic with price targets eyeing $130. Investors are now pivoting to upcoming US CPI data and EIA reports to determine if the current vertical momentum will face a mean reversion or continue its record-breaking ascent.