Monday saw a significant surge in the cryptocurrency market, with several major players experiencing impressive gains, including DOGE and XRP. However, recent market shifts have caused both assets to flash red, sparking concerns about further corrections. 📈 📉 📈 📉 📈 💰 🤝 💸 💰
XRP, a top altcoin, enjoyed an eye-catching 12% surge over the weekend, reaching a multi-week high of $2.65 before experiencing a temporary pullback. While this impressive rally was fueled by positive developments within Ripple’s company, it was met with selling pressure from whales. Despite XRP’s sharp retracement, it still trades above $2.60 at press time. 📈
However, a cautionary signal emerged with the TD Sequential, a technical indicator used to gauge exhaustion points in a market. The signal suggests a potential immediate decline for XRP. 👀
Meanwhile, Dogecoin’s story is similar. The OG meme coin experienced noteworthy gains during the weekend but has since witnessed a significant drop. After failing to break past $0.22 resistance, DOGE is currently hovering near $0.20 and showing a notable decline of nearly 5%. Despite these dips, it’s worth noting that whales have been selling heavily, with over 500 million tokens being sold in the last week alone. 💸
The current correction comes as no surprise amidst the broader market dip. However, experts are urging investors to remain cautious and closely monitor XRP and DOGE for further price movements.