The cryptocurrency market took another hit as Bitcoin (BTC) plunged over 10% following U.S. President Donald Trump’s unexpected announcement of a 25% tariff on imports from Mexico and Canada.

This triggered a wave of panic selling, erasing the gains from Sunday’s “crypto strategic reserve” rally. More than $1 billion in liquidations occurred in just 24 hours, exacerbating market volatility.

Cardano (ADA) at a Key Technical Crossroads

ADA saw a sharp decline, falling 25% after briefly touching $1,17. The token is now trading near $0,80, forming a symmetrical triangle pattern on the daily chart. This structure suggests that price consolidation is ongoing, with room for further movement before a breakout.

A crucial support zone between $0,74 and $0,83 will determine ADA’s next move. If buyers reclaim the 100-day moving average, a swift recovery toward $1,00–$1,20 is possible. However, a breakdown below current support could lead to further downside pressure.

XRP Faces Similar Consolidation Phase

XRP followed ADA’s trajectory, retracing from $2,95 to its current support at $2,34. Like Cardano, XRP is also forming a symmetrical triangle, a pattern that signals potential for a breakout or continued consolidation.

If XRP reclaims its 100-day moving average, it could rally toward the $2,80–$3,50 range. However, if the $2,34 support level fails, a decline toward the lower trendline of the triangle remains a possibility.

What’s Next for ADA and XRP?

Despite recent losses, both assets remain in consolidation phases, with technical setups suggesting potential breakouts in either direction. Traders should closely watch price action around key support and resistance levels, as the next major move will likely define the mid-term trend.