Bitcoin, Ethereum, Ripple Prices Test Key Support Levels Amid Ongoing Market Correction

Bitcoin, Ethereum, and Ripple prices have corrected following the August-September drawdown and the Federal Reserve's 25 bps rate hike. The recent declines of -9% for Bitcoin (BTCUSD), -11% for Ethereum (ETHUSD), and -20% for Ripple (XRPUSD) may be a corrective move before the broader rebound and uptrend resume.

The pullback in Brent crude oil and U.S. 10-year Treasury yields has eased some pressure from persistent geopolitical escalation risks. However, rate-hike expectations remain above 50% for another 25-basis-point increase at the October meeting, limiting gains across currency markets.

Key support levels are being tested: Bitcoin (74,500), Ethereum (2,340), and Ripple (127). These levels correspond to Fibonacci retracements of the strong rebounds from yearly lows. As long as prices hold above these levels, the bullish setup remains valid.