XRP and Dogecoin erases explosive weekly profit – should traders be worried?

If you have the XRP or Dogecoin Hype Recently you might wonder what went wrong. You are probably also a lot less patient than the holders who bought the top of 2018.

Both XRP and Dogecoin had experienced meteorical increases in price in those in those in recent weeks, only to disappoint traders who thought it would only be “up” here. Both coins have now been down in double digits for the past seven days, with XRP that sinks 12% and a crushing 18% drops.

So is it over? As always it is complicated. Let’s zoom out:

The Cryptocurrency market catches its breath after a fleeting week. At the macro level, President Donald Trump has just announced a trade agreement with the European Union, which re -calibrated the global economic landscape. The 15% flat rate structure of the agreement has removed uncertainty that had weighed at risk activa.

Bitcoin acts near $ 118,000, a decrease of all -time $ 123k recorded on July 14, while Ethereum is floating around the $ 3,800 price zone. The wider market seems to be in a consolidation phase, with more than $ 539.24 million in liquidations last week, because overhead positions are being washed away.

Yet it is difficult for most crypto market observers to be anything but optimistic: the combination of geopolitics pragmatism and regulatory progress has created fertile soil for the acceptance of crypto. With Bitcoin who now plays a more important role in regular portfolios, altcoins such as Ethereum, Solana, XRP and others now have more legitimacy than ever, despite their greater volatility.

An example: on Myriad, a prediction market developed by DecryptThe parent company Dastan, traders, still believe that Ethereum will achieve a new of all time by the end of the year, so that the opportunities are placed on a convincing 68%. As a general rule, when traders see stability, many start flirting with more risky markets.

XRP -Price: Consolidation after the rise

XRP is currently being traded at $ 3.17, with a change of -2.06% on the weekly candlestick that is currently in formation and a price decrease of 12% in the last seven days. But what did you expect after a meteoric turnout? What goes up always comes down again.

The weekly graph reveals various technical indicators that are worth mentioning for traders who monitor the following movements of the Mint.

The average directional index, or ADX, is at 21, below 25 threshold that usually confirms a strong trend momentum. ADX is how traders measure the strength of a price trend, regardless of the direction. This lecture for XRP suggests that the current bullish trend may start to lose its strong directional strength – when ADX falls below 25, it often indicates that the market moves sideways or prepares for a new directional movement. Traders usually await ADX above 25 rises to confirm that a new trend determines.

However, the relative strength index, or RSI, indicates that XRP maintains the momentum in the upper range with 64 points without reaching the overbough area above 70. RSI is like a temperature meter for traders, how hot a given assets can be from a scale of 0 to 100. At 64. At 64 it is not yet experienced extreme purchasing pressure that is often overtaken, and the bridges of a scale of 0 to 100. At 64.

Exponential advanced averages, the average price of an active over a certain period, are other important indicators for most experienced traders. XRPs EMAs show the mint trade above both the 50 -week and 200 weeks of EMAs. The EMA of 50 weeks seems to have been placed above the 200 -week EMA, which technical analysts often regard as a bullish market structure.

The squeeze momentum indicator shows the “off” status on the weekly graph, indicating that the recent price compression period has been terminated and the volatility has been released.

Given all these indicators together, the price movement still respects the support set by the double bottom pattern, so it still has room to correct (as it should) without losing its bullish prospects. If the ADX loses strength and the Squeeze Momentum indicator also decreases, the likely increases for a correction increase.

What is that all about? Most traders would interpret this as: first more pain, than more profit later.

Main levels to view:

Resistance:

• Immediately: $ 3.30 (recent rejection point visible on the graph)
• In fact: $ 3.50 (next large resistance zone)

Supports:

• Immediately: $ 3.00 (psychological level and consolidation area)
• In fact: $ 2.50 (major support zone of previous price promotion)

Dogecoin Price: Waiting for Momentum

Dogecoin acts at $ 0.23283 with another double -digit loss on the weekly graph, as the worst performing currency in the top 10 of the market hairstyle with a decrease of 18% in the last seven days. XRP and Cardano are the other coins with double -digit losses in the top 10.

The technical indicators of the meme -Munt indicate a mixed image while consolidates above the $ 0.20 level.

The ADX at 17 indicates no established trend – readings below 20 suggest that the market is missing a clear direction. This low ADX lecture is common during the consolidation periods in which buyers neither have nor sellers have taken control of the price action.

The RSI at 54 does DOGE on neutral territory, neither overbought nor sold over. This lecture from the center of the ground indicates a balanced momentum between buyers and sellers at the current level.

The relationship between Doge’s 50 -week EMA and 200 weeks EMA shows these advanced averages together. While they appear close to the graph, traders usually wait for a clear crossover with separation before they confirm an important trend change.

The Squeeze Momentum indicator with the “On” status indicates that token is currently experiencing price compression. This suggests a lower volatility that often precedes a larger movement in both directions.

In other words, traders expect a big step here, but they are ready to say in which direction.

Note that Doge also experiences a double soil pattern (prices that create a W -shaped pattern in the graph above), which traders usually interpret as bullish. Both supports are also respected in the weekly performance. So, unless things change and get even worse for doge holders, the price of doge could still dive as much as another 10% without traders worry about a trend removal.

Main levels to view:

Resistors:

• Immediately: $ 0.25 (recently high area in graph)
• In fact: $ 0.30 (great psychological resistance)

To support:

• Immediately: $ 0.20 (clear support level and psychological number)
• In fact: $ 0.15 (large support zone in the double bottom area)