Bitcoin Battles at 50-Day Support as XRP Faces Dogecoin-Style Meltdown Risk
Crypto markets hold their breath as Bitcoin flirts with a critical technical level—while XRP teeters on the edge of a Dogecoin-esque breakdown.
Bitcoin's make-or-break moment
The king of crypto is retesting its 50-day moving average, a line in the sand that's separated bull runs from bear traps in past cycles. Break below? Brace for volatility. Hold strong? Fuel for the next leg up.
XRP's dangerous deja vu
Ripple's token shows alarming similarity to DOGE's pre-crash patterns—the kind that vaporized portfolios faster than a 'hot tip' from your cousin's broker. Trading volume's drying up while social media hype hits suspicious all-time highs.
Meanwhile, traditional finance keeps pretending they 'never believed in crypto'—right before launching another blockchain ETF. The 50-day average isn't just technical analysis—it's the psychological battleground where crypto's next move gets decided.
XRP headed the DOGE way?
Payments-focused cryptocurrency XRP XRP is trading at the lower end of the Ichimoku cloud, a momentum indicator based on several moving average variants and developed by a Japanese journalist in the 1960s.
Crossovers above and below the cloud are said to represent bullish and bearish shifts in momentum.
When an asset's price crosses below the cloud, as Dogecoin DOGE did early this month, it typically signals a bearish trend. Traders often interpret this as a signal to consider selling or shorting the asset, especially if other macro or technical indicators confirm the signal.
XRP's 50-day SMA has already crossed below the 200-day SMA to confirm the so-called death cross, a bearish indicator. Therefore, a potential move below the Ichimoku cloud could prove costly for the bears, potentially opening the door for a slide below $2.
On the charts, support is seen directly at $ 1.60, the early April low. Coins like DOGE, ADA, and LINK have dropped below their respective Ichimoku clouds in recent days, resulting in price losses.
