Bitcoin’s decline has triggered a sell-off across the broader crypto market, pushing down hundreds of altcoins, including popular tokens such as Dogecoin and XRP (Ripple). Pessimism is dominating sentiment, with BTC falling below USD 90,000, while Ethereum is trying to hold the USD 3,000 area.
XRP and Dogecoin charts
XRP is down sharply today and has almost completely erased its New Year gains, sliding below the EMA200 (red line). This comes despite an agreement with Amazon Web Services (AWS), which, through its generative AI platform Amazon Bedrock, has taken on the task of improving the XRP Ledger by monitoring and analyzing the blockchain.
A pullback after “touching” the 200-period moving average may be interpreted by the market as a signal of structural weakness and a reinforcement of the downtrend, as long as prices remain below USD 2.40. Losses from the recent local peak now stand at nearly 25%.
Source: xStation5
Similar to XRP, Dogecoin has also retreated to USD 0.138, wiping out gains from recent days. The price has once again slipped below the 50-period moving average and has failed to remain above it for more than the first few days of January.
Source: xStation5
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