Price Warnings for Ripple (XRP) and Dogecoin (DOGE) Investors: Details
The cryptocurrency market experienced a substantial revival on Monday, with numerous assets posting impressive gains, including DOGE and XRP.
However, the tides have turned, perhaps expectedly after such a rally, and both assets have flashed red now. Moreover, there are some worrying signs about further corrections.
XRP outperformed the rest of the larger-cap alts during the weekend, closing on Sunday with a 12% surge. It kept climbing on Monday and tapped a multi-week peak of $2.65.
This significant increase was perhaps driven by the positive developments within the company behind the asset and came despite the growing sell-offs by whales. Although XRP’s run was stopped there, it still trades above $2.60 as of press time.
However, Ali Martinez noted that the TD Sequential, a metric used to determine whether the underlying asset has reached an exhaustion point in each direction, had flashed a sell signal, which could lead to an immediate retracement.
The landscape around Dogecoin is identical as the OG meme coin posted notable gains during the weekend and challenged the $0.22 resistance. However, its 24-hour decline has been more painful. After getting rejected at that level, the asset has slumped by nearly 5% and is now just inches below $0.20.
Aside from the overall market-wide correction, another possible reason behind today’s drop is the behavior of whales. Martinez noted that such large market participants have been on a selling spree, disposing of 500 million tokens within the span of just a week.
The post Price Warnings for Ripple (XRP) and Dogecoin (DOGE) Investors: Details appeared first on CryptoPotato.
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