XRP and DOGE poised for potential 25% price surges
Crypto analyst Ali Martinez predicts that Dogecoin (DOGE) and XRP could experience price surges of around 25%, although technical indicators suggest some caution for XRP.
Dogecoin has been trapped in a symmetrical triangle since early February’s market crash, when its price fell from $0.30 to $0.22. Despite multiple attempts, it failed to break above $0.28 while holding support at $0.244.
With DOGE currently trading around $0.255, a 25% rally would push it past $0.30. If bulls successfully break resistance, Dogecoin could retest previous highs, signaling renewed market confidence.
XRP’s technical setup differs slightly, forming an ascending triangle, which often indicates a breakout to the upside. Martinez suggests that if XRP surpasses resistance, it could gain 26%, reaching approximately $3.40 — its all-time high recorded in early January.
XRP’s bullish outlook is also driven by institutional interest. Brazil is launching its first spot XRP ETF, while several U.S. applications have gained SEC recognition, boosting investor sentiment.
Despite the optimism, Martinez warns that a TD Sequential Indicator — a key technical signal — suggests market exhaustion. The 3-hour chart has flashed a sell signal, indicating a possible short-term correction for XRP.
While DOGE and XRP show strong breakout potential, XRP faces resistance from technical indicators. If DOGE clears $0.28 and XRP breaks $3.40, significant price rallies could follow. However, traders should watch for signs of a short-term correction in XRP before making moves.
Source: CryptoPotato
Altcoin market faces capitulation as 24% of top cryptos hit 1-year lows
Nearly a quarter (24%) of the top 200 cryptocurrencies have dropped to their lowest price levels in over a year, sparking concerns of market capitulation. Analysts suggest that this could either mark the bottom before a rebound or signal a more extended downturn.
According to Jamie Coutts, chief crypto analyst at Real Vision, the Feb. 7 market crash led to the highest number of cryptocurrencies hitting 365-day lows since August 2024, when 28% of tokens reached similar levels.
In financial markets, capitulation refers to a phase where investors panic-sell, causing steep price declines before a potential recovery. Juan Pellicer, a senior analyst at IntoTheBlock, notes that this decline is partially due to liquidations of overleveraged positions, especially in assets like Solana. The total crypto market cap has fallen to $3.13 trillion, indicating a short-term washout.
Pellicer suggests that despite the downturn, factors like tariffs and AI-driven valuations (e.g., DeepSeek impact)indicate the bull market could continue. This implies the current dip might be a retracement rather than a full-scale bear market.
Meanwhile, the surge in memecoins, promoted by high-profile figures, is diverting liquidity from more established altcoin projects. Edwin Mata, CEO of Brickken, warns that this liquidity fragmentation could make market recoveries less predictable, adding another layer of volatility and speculation to the crypto sector.
The market is at a critical juncture, with analysts debating whether this downturn signals capitulation and a rebound or a deeper correction. The impact of memecoin speculation further complicates the recovery trajectory for altcoins.
Source: Cointelegraph
SEC seeks industry input on crypto staking ahead of new guidelines
The U.S. Securities and Exchange Commission (SEC) is intensifying its focus on crypto staking and may soon introduce new regulations. Before finalizing any policies, the SEC has requested feedback from industry stakeholders to better understand staking mechanisms and their benefits.
FOX Business reporter Eleanor Terrett revealed that the SEC has solicited a detailed memorandum from industry participants regarding various staking models. This move follows the SEC’s review of a 19b-4 filing by the Cboe exchange, which proposed incorporating staking into the 21Shares Core Ethereum ETF (CETH). Previously, under SEC Chair Gary Gensler, staking was restricted in crypto ETFs due to concerns over securities law violations.
Last week, the SEC’s Crypto Task Force held discussions with Jito Labs and Multicoin Capital Management regarding staking’s role in crypto exchange-traded products (ETPs). Two primary staking models were analyzed:
- The Services Model, which utilizes validators for staking with timely redemptions.
- The LST Model, which employs liquid staking tokens (LSTs) to represent staked assets.
Key issues discussed included redemption delays, tax implications, and the legal classification of staking services. Industry representatives argued that excluding staking from ETFs limits investor returns and weakens network security.
The SEC remains undecided on whether Ethereum (ETH) should be classified as a security or a commodity. This uncertainty previously delayed approval of ETH ETF staking, as the agency raised concerns about exchanges marketing staking as an investment product.
Despite Ethereum’s major upgrades and ETF launches, the asset has underperformed in 2024. However, if staking rewards are approved for ETH ETFs, it could trigger a significant rally, boosting investor confidence and network participation.
Source: Coinpedia