XRP & Dogecoin Get Slaughtered: Brutal Corrections Shake Crypto Markets

Blood in the streets—XRP and Dogecoin just got hammered in a market-wide reckoning. Meme coin euphoria? Gone. 'Institutional darling' status? Questionable. Here's the carnage.

XRP's rude awakening

The so-called bankers' crypto got caught with its pants down—double-digit losses in 24 hours as bulls scrambled for cover. That SEC lawsuit hangover might be worse than anyone admitted.

Dogecoin's meme magic fails

Elon's favorite joke currency isn't laughing now. A 20% nosedive proves even cult-like devotion can't defy gravity forever. (But hey, at least the Shiba Inu logo still looks cute.)

The silver lining? Weak hands are getting flushed out—classic crypto Darwinism at work. Just remember: today's 'brutal correction' is tomorrow's 'discount entry point'... assuming you still believe in magic internet money after this mess.

*Cynical finance jab*: Meanwhile, Wall Street hedge funds are 'accidentally' shorting these coins while publicly declaring their faith. How...convenient.

In Brief

• XRP and Dogecoin sharply erased their weekly gains, with respective drops of 12 % and 18 %.
• Technical analysis shows a weakening upward trend for XRP, but the structure remains intact.
• On the Dogecoin side, indicators reveal no clear direction, although bullish signals remain.
• Despite volatility, several macroeconomic factors support the market, including a new trade agreement between the United States and the EU.

A Technical Halt : XRP and Dogecoin Erase Their Gains

Investors hoping for an immediate continuation of the rise after the rebound were quickly disappointed. Indeed, XRP lost 12 % over the past seven days, while dogecoin fell 18 %, becoming the worst performer in the top 10.

These declines come after a spectacular surge, particularly frustrating for traders who entered the market late. The crypto market is catching its breath after a volatile week, with a purge effect on overly exposed positions. In this context, both XRP and DOGE illustrate the harsh reality of a return to the mean in such an unstable environment.

Technical indicators confirm this pullback while offering insights for the future. Here are the most significant signals observed on the two assets :

• XRP : ADX at 21, a weakening uptrend (below the critical threshold of 25). RSI at 64, still positive momentum but no overbought condition. The 50 and 200-week EMA moving averages reveal an intact bullish structure with the price above both. The Squeeze Momentum Indicator is off, as the squeeze is over and volatility returns.

• Dogecoin : ADX at 17, indicating an absence of a dominant trend, typical of a consolidating market. Its RSI at 54, a neutral condition with no excessive buying or selling pressure. The 50 and 200-week EMA moving averages are converging. The Squeeze Momentum Indicator is on, with an ongoing squeeze signaling an upcoming move.

These elements confirm a consolidation scenario after a too rapid rise. For XRP, the bullish structure remains intact despite the pullback. Regarding Dogecoin, signals are more neutral, but the formation of a double bottom on the weekly chart is seen as potentially bullish if supports hold.

Market Consolidation and Favorable Signals

Beyond the technical signals specific to XRP and Dogecoin, the pullback of these two assets fits into a general trend affecting the entire market. Indeed, Bitcoin fell below $118,000, down from a peak of $123,000 reached on July 14. Ethereum, for its part, is trading around $3,800, relatively stable.

This consolidation phase has been marked by more than $539 million in liquidations, a direct consequence of excessive leverage on many positions. This widespread pullback is therefore not specific to XRP or Doge but reflects an overall market dynamic.

In this context, some signals still encourage optimism. The trade agreement announced between the United States and the European Union, establishing a single 15 % tariff, reassured the markets.

This decision removed an uncertainty weighing on risk assets. The return of some geopolitical stability favors cryptocurrencies. On Myriad, the predictive platform of the Dastan group, 68 % of traders believe that ethereum will reach a new ATH by the end of the year. Finally, the presence of a double bottom on the weekly charts of XRP and Dogecoin, often seen as a bullish signal, suggests that key technical supports hold.

These elements reveal a scenario where the current correction could turn into a preparation phase before a new bullish cycle. The market does not appear to have broken its fundamental structures, and supports remain largely respected.

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