Dogecoin (DOGE) has fallen below the 61.8% Fibonacci retracement level, signaling a potential end to its recent rally. The meme cryptocurrency has dropped below 21 cents, retracing over 70% of its rally from October lows near 10 cents to a December high of 48.4 cents.
In contrast, XRP shows more resilience. Despite a 25% drop this month to $2.28 from a mid-January peak of $3.40, XRP's retracement corresponds to only 38.2% of its rally from November 4's low of 49.5 cents. This level, along with the 50% and 61.8% ratios, suggests potential areas for the price to resume its upward trend.
Recent positive news for XRP includes Brazil's securities regulator registering the first spot XRP exchange-traded fund (ETF), the Hashdex Nasdaq XRP Fund. U.S. regulators are also reviewing applications for XRP ETFs, potentially boosting institutional demand.