Dogecoin Rebounds, XRP Faces Potential Decline: Crypto Market Update

Dogecoin (DOGE) has shown resilience, rebounding from a crucial support level of $0.16896 after a sharp decline last week. Currently trading around $0.22, DOGE's price action suggests a Cup & Handle formation, potentially leading to a rally. A crypto analyst on X highlighted the importance of the $0.16896 support, which Dogecoin successfully bounced from. The next key resistance is at $0.29124; a breakout could fuel further bullish momentum, targeting $0.50 and $0.60 in the long term. As of today, DOGE is up by 5.8% in the last 24 hours, trading at $0.2178. Meanwhile, XRP faces potential downside. A crypto analyst predicts a possible decline to $1.5 if it fails to hold a critical resistance level. XRP is currently in a downtrend, making lower highs and lower lows within a descending channel. Rejection at the $2.00 resistance could lead to a drop to $1.90, with a further breakdown potentially pushing it to $1.5. Despite a recent double-digit price surge, XRP's main daily resistance area is around $2.6. As of this writing, XRP is trading at $2.8.