XRP Enters a Critical Phase: Analysis of the Descending Flags Pattern
The current candlestick chart of XRP shows a typical descending flag pattern, which is a bearish continuation pattern often suggests possible further declines. However, XRP is currently near the 26-day Exponential Moving Average (EMA), which has been an important turning point multiple times, bringing hope for price stabilization or a rebound.
The characteristic of the descending flag is that the price forms gradually descending highs and lows within a narrow channel. Although it appears negative, the gradual decrease in trading volume is a positive signal, indicating limited selling pressure or reflecting that the market is in a consolidation phase.
If the 26 EMA can maintain support, XRP may rebound to the $2.40 resistance zone and further test the $2.60-$2.80 range of resistance. However, if the 26 EMA is lost, the lower 50 EMA (approximately $1.69) may become the next support level. If this level is reached, the market may face stronger selling pressure.
DOGE Price Balances: Downside Risks Persist
Dogecoin (DOGE) is currently hovering around $0.318, showing a brief balance in the market. However, this balance may be difficult to sustain, and bearish signals still dominate.
Currently, DOGE has fallen below the 50 EMA, indicating weakened bullish momentum. If selling pressure continues to increase, the price may drop to the 100 EMA (approximately $0.283). Although this moving average may provide short-term support, the market still lacks strong rebound momentum.
If it drops below the 100 EMA, the lower 200 EMA (approximately $0.212) may become the next target area. On the other hand, if it can break through the $0.35 resistance, it may push the price back up to $0.40 or even higher, but this requires broader market recovery support. In the current environment, DOGE is more likely to face further downward pressure in the short term.
