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Ethereum whales have seized the opportunity to buy the dip as ETH crashed to its lowest level since 2023. In just 12 hours, these deep-pocketed investors poured about $60 million into the second-largest cryptocurrency by market cap, despite it plunging over 17% in a single day. Data shared by on-chain analytics platform Spot On Chain shows the mysterious group known as “7 Siblings” leading the charge. They spent a hefty $42.66 million to buy 25,100 ETH at an average of $1,700. The group then quickly deposited the full amount into the Aave lending platform, possibly to earn yield or borrow against the assets. Another wallet, identified as “0x709,” borrowed 8.25 million DAI from Spark protocol to snap up 5,227 ETH at around $1,578 each. This whale also received 6,924 ETH from the Railgun privacy platform, with the stash worth about $11 million, raising speculation on their next move. Not to be left behind, a third address, “0x5f1,” deployed $8.13 million in DAI to grab nearly 5,000 ETH at an average price of $1,631. The buying spree marks an opportunistic push from large holders probably betting on a rebound, given that it comes at a time when the price of Ethereum is struggling to recover from one of its worst-ever quarters. It lost more than 45% of its value in the first three months of 2025. Their moves may suggest they see current prices as a long-term bargain , especially with ETH down nearly 56% from a year ago. At the time of writing, the asset had dropped 17.1% in 24 hours, dragging its value down to levels not seen since March 2023. Over the past seven days, ETH dipped 16.6%, underperforming the broader crypto market which lost slightly more than 9% in that timeframe. Additionally, against Bitcoin, ETH/BTC has hit its lowest ratio since February 2020, standing at 0.01959. The network is also facing multiple challenges , including declining fee revenue, stiff competition from Solana, especially in the meme coin space, as well as lacklustre institutional interest compared to Bitcoin. It has led some industry observers like Lekker Capital’s Quinn Thompson to sound Ethereum’s death knell, recently describing the asset as “completely dead” as an investment. However, Standard Chartered remains bullish, predicting the crypto asset could hit $10,000 by 2029 despite its current woes.

In his annual letter to shareholders, released today, JPMorgan Chase CEO Jamie Dimon expressed some concerns about the potential economic repercussions of President Donald Trump’s recent tariff implementations. Dimon warned that these tariffs could exacerbate inflation and impede economic growth, emphasizing the urgency of resolving trade uncertainties swiftly to prevent long-term damage to consumer confidence and corporate profitability. “As for the short-term, we are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases on domestic products,” Dimon wrote in relation to the tariffs. The newly introduced “reciprocal” tariffs include a baseline 10% tax on all imports, which has already triggered significant market volatility. U.S. stock futures experienced sharp declines, with the Dow Jones Industrial Average dropping approximately 800 points. This downturn extended globally, affecting markets in Europe and Asia. Dimon highlighted that while the U.S. economy was already showing signs of slowing prior to the announcement of these tariffs, the additional strain could compound existing challenges and potentially push the nation toward a recession. He noted that the negative impacts — such as diminished consumer confidence, reduced investments, lower corporate profits, and a weaker U.S. dollar — can accumulate and become increasingly difficult to reverse. Addressing the broader geopolitical implications, Dimon cautioned against an isolationist stance, stating that “America First” should not devolve into “America alone.” He underscored the importance of maintaining strong military and economic alliances, warning that fragmentation could weaken the U.S. and benefit adversaries. Dimon advocated for consistent, respectful engagement with allies and global partners to effectively compete with nations like China, particularly in areas such as artificial intelligence and semiconductor technology. The cryptocurrency market has not been immune to these developments. Bitcoin ( BTC ), for instance, fell to its lowest level since November, trading at around $78,500 at the time of writing. This decline has had a cascading effect on cryptocurrency-related stocks, with companies like MicroStrategy, Marathon Digital, Riot Platforms, and Coinbase experiencing significant losses. Dimon’s skepticism toward cryptocurrencies is well-documented . He has previously questioned the tangible benefits of crypto assets, noting that despite over a decade of discussion, they have yet to deliver substantial value. While acknowledging the potential of blockchain technology, Dimon has consistently expressed doubts about the viability of cryptocurrencies themselves.

In an unprecedented move, Trump upped the stakes in the ongoing trade war, threatening to raise tariffs on China to 104% while the crypto market remains on edge. After the Chinese retaliation to the latest US tariff push, U.S. President Donald Trump is threatening further measures. On April 7, Trump announced on his social media platform Truth Social that China would face an additional 50% tariff if it didn’t remove countermeasures. Notably, China introduced 34% retaliatory tariffs on all US goods, mirroring the same measure by the United States. Now, Trump has given China an ultimatum to remove its retaliatory tariffs by April 8, or face new measures. “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th.” Donald Trump The combined tariffs on Chinese imports to the United States are currently 54%, taking into account existing tariffs plus Trump’s new measures. If the new tariff takes effect, Chinese goods would face tariffs of 104%. For specific goods, like automobiles and electronics, the tariff rates would be even higher. Since the April 2nd “Liberation Day” announcement, average US tariffs on foreign goods rose to 18.8%. This is the highest level since the Smoot-Hawley Act of 1930, which caused major concern in both stock and crypto markets. Crypto markets lost $1 trillion in value since February, as risk-off sentiment dominated the markets. Namely, traders fear a rise in inflation, a fall in growth, and employment due to the economic effects of tariffs. Still, it is not clear how long these tariffs will last, and what the long-term rates would be. Notably, 59% of the traders on Polymarket expect that Trump will reduce the majority of tariffs by July. Just one day prior, on April 6, these odds were at just 33%. Following the newsof , Bitcoin (B) spiked to a daily high of $81.119, before dropping to $78,321. Some traders hope that Trump’s tariffs are a bargaining tool rather than a long-term measure. This scenario became more likely once Trump hinted at a possible 90-day pause on all tariffs, except on China, as trading negotiations are ongoing.

XRP got hit hard in Monday’s crypto sell-off, tumbling about 16 percent. But analyst Egrag Crypto is telling followers this ugly price action might actually be a bullish sign, based on XRP’s history. Egrag points to the charts from 2017 and 2021. Both times, XRP suffered massive crashes – dropping over 70 percent – before it eventually exploded higher by 1,000 to 2,700 percent. He says the current setup, with XRP falling hard and testing its key long-term support (the 200-day moving average), looks very similar to those previous cycles right before the huge rallies started. Egrag even circled August 4th, 2025 on his calendar as a potential date to watch, based on how these cycles timed out before. Related: Is Ripple Quietly Reducing Its XRP Sales Pressure? Escrow Data Analyzed XRP was trading around $1.75 late Monday, down sharply from nearly $2.10 just a day earlier, according to CoinMarketCap. Trading volume absolutely surged – up over 374% to more than $10 billion. Big volume on a big price drop usually signals heavy selling pressure, maybe even panic or forced liquidations. The coin’s total market value dropped about 16 percent too, down to roughly $102 billion. Yes, the immediate technical picture is weak. The Relative Strength Index (RSI), which measures momentum, plunged below 31. That’s deep into “oversold” territory. While sometimes prices bounce hard from oversold levels, there were no strong signs of that yet. The MACD indicator also confirms the current downward momentum is strong. Despite the bad short-term signals, Egrag focused on a key long-term structural point. He noted that even in the past winning cycles, XRP often dipped below the 200-day average before rallying. Crucially, he highlighted that the faster 50-day average price line is still above the slower 200-day average line. This means the dreaded “death cross,” a major bearish signal, hasn’t happened yet. For Egrag, this keeps the bigger-picture bullish structure technically alive. Related: XRP Price Prediction: Can Bulls Push Past $2.10 for Rally to $2.68? His analysis suggests: Don’t necessarily panic over Monday’s crash. It fits a historical pattern that previously led to massive gains if that pattern repeats. Watching if XRP holds support around the 200-day moving average now is critical. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

XRP faced intense selling pressure Monday, dropping over 14% along with the broader crypto market. However, analysts are pointing to intriguing signs – specifically XRP’s relative strength against Ethereum and historical chart patterns – that might hint at underlying bullish potential even during the current turmoil. While XRP’s USD price hit lows near $1.60 before settling around $1.79 (down 14.11% daily), analyst CrediBULL Crypto noted its pairing against Ethereum (XRP/ETH) held firm. This relative strength, where XRP didn’t weaken as much against ETH, is seen by CrediBULL as a potentially bullish signal. He suggested this could mean XRP is gearing up for a strong reversal, especially if it reclaims the $2.00 to $2.20 resistance zone. A break above that area, he argued, could confirm an impulsive bullish trend continuation. CrediBULL also noted that Ethereum failed to capitalize on the correction to gain significant ground against XRP. Separately, analyst Egrag Crypto reiterated his view that XRP’s current price action echoes historical setups. He highlighted massive corrections in 2017 (73%) and 2021 (78%) that ultimately preceded explosive rallies (2,700% and 1,000%). Related: XRP Price Prediction: Can Bulls Push Past $2.10 for Rally to $2.68? Egrag emphasized XRP’s interaction with its 200-day moving average (MA) during those cycles, noting price often dipped below it before surging. With XRP currently testing support near this key long-term average after its sharp drop, he sees the parallel. Despite the recent crash and weak short-term indicators like an oversold RSI (dipping near 31) and bearish MACD, Egrag pointed out a crucial factor: XRP’s 50-day MA remains above its 200-day MA. Related: XRP Set for ‘Final Blastoff’ After ‘Boredom Phase’: Egrag Predicts Surge This means a bearish “death cross” hasn’t occurred, preserving the technical long-term bullish structure, in his view. He suggested the current dip presents an accumulation opportunity rather than a reason for panic, assuming this structure holds. Holding the recent $1.60 low is therefore critical. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.