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Driven by the recent weakness of Bitcoin, the cryptocurrency market as a whole has come under pressure, with Dogecoin and XRP becoming the latest focus of decline. Both fell by more than 5%, both approaching the key support range, and market sentiment became obviously cautious. 🐕 Dogecoin falls below key support, bearish pressure persistsDogecoin slumped 5.5% to around $0.1726 on Tuesday, losing key support amid a high-volume sell-off. The price trend continues the recent downward trend. Pay close attention to whether the $0.17 mark can be supported, otherwise it may fall further towards the $0.1650 to $0.1600 range. During the US trading session, sellers dominated the market, with DOGE testing the resilience of long-term technical support after falling below support at $0.1720.  Technically, Dogecoin fell below its short-term moving averages, reinforcing a bearish structure that has been in place since early November. The hourly RSI is around 38, indicating that it is slightly oversold in the short term, but has not yet triggered a strong rebound signal. The weekly 200-day moving average is close to $0.16, a position it has held many times since the summer and is considered the life-and-death line for Dogecoin. As long as this range is not effectively broken below, the mid- to long-term trend is still expected to be maintained. 💧 XRP falls below support, whale transfer adds to uncertaintySimilar to Dogecoin, XRP also fell about 5.1% on Tuesday, falling from $2.54 to $2.39. While there was no major bad news in the market, technical selling and large transfers from whales added to the volatility. On-chain data shows that more than $1 billion in XRP was transferred between Ripple-related escrow addresses. Although these transfers are internal operations and do not flow directly to the exchange, the timing is sensitive, making investors more cautious.  From a technical perspective, XRP is currently struggling to hold the key support zone between $2.39 and $2.41. If it falls below this range, the market may face a deeper correction, with the target possibly falling to the $2.20 to $2.25 range. The RSI is currently close to the oversold zone, and a short-term technical rebound may occur, but the momentum indicator is still weak, and the 50-day moving average is about to form a "death cross" with the 200-day moving average, which means that short-term risks have not been eliminated. 📉 Market sentiment and outlookOverall, the decline of DOGE and XRP is mainly due to the dual impact of Bitcoin weakness and technical selling pressure, rather than negative fundamentals. Institutional capital flows show that the current market tends to gradually reduce positions rather than panic selling. This means that if trading volume shrinks further, the opportunity for a short-term rebound cannot be ruled out. However, to reverse the current bearish pattern, DOGE must regain resistance at $0.1789, while XRP needs to break above $2.47. Until then, the market will remain volatile and weak. Summarize: Dogecoin and XRP are at a technical critical juncture. The former needs to hold on to US$0.17, while the latter needs to hover around US$2.40. If support fails, it could trigger a new round of selling； If trading volume shrinks and stabilizes, there is still a chance for a short-term rebound. For traders, the next few sessions will determine the fate of these two popular coins. The crypto market is like a roller coaster, exciting and addictive. Want to seize opportunities as soon as possible and avoid pitfalls? Please give us a follow and let us avoid detours and earn more bands! #Currency Circle#Dogecoin#XRP#Altcoin#Encryption Market Want to join the circle to chat together and seize the next opportunity? 📱 WeChat: LYH-Love-ZJ📱 DingTalk: ysygnb520  |
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