XRP News Today: Dogecoin Surges 3.9% on ETF Approval Hopes BONK Drops 7.2% as Investors Take Profits Shiba Inu and Pepe Gain on Technical Breakouts

Dogecoin (DOGE) experienced a surge of 3.9%, reaching $0.173, driven by optimism surrounding the anticipated approval of ETFs for Solana and XRP. This optimism was fueled by reports suggesting that the U.S. Securities and Exchange Commission is considering a phased ETF approval model, which could prioritize altcoins like XRP and Solana but also include Dogecoin due to a "criteria-based approval" narrative. This anticipation pushed Dogecoin's price above its 7-day and 30-day moving averages, with the Relative Strength Index (RSI) hovering near 50. If Dogecoin successfully navigates the $0.174 Fibonacci resistance, it could set its sights on $0.20.

In contrast, BONK witnessed a 7.2% decline, dropping to $0.000021, as investors opted for profit-taking after recent strong gains. The altcoin had climbed 46% in one week following increased supply via LetsBONK, but a daily RSI edging towards 70 triggered selling pressure. The reduction in trading volume by 45% signals waning upward momentum, focusing attention on the Fib 23.6 support at $0.00002087. A daily close below this level could deepen the decline.

Meanwhile, the memecoin market saw Shiba Inu and Pepe experiencing gains, climbing to $0.0000131 and $0.0000102 respectively. Shiba Inu broke above its multi-week downward trendline at $0.00001280, signaling a technical micro-breakthrough. Supporting the price were the positive MACD crossover and the burning of over 1 billion SHIB coins, reducing circulation. Major wallets hold 61.53% of the total supply, while open interest in derivative products grew by $18.6 million in 24 hours. This setup has investors eyeing the 38.2 Fib resistance of $0.00001322 short-term.

Pepe’s upward movement was driven by chart formations, with the reemergence of a bull flag pattern previously boosting the price tenfold. The formational flagpole’s upper edge at $0.00001050 approaches a breakout, with the RSI neutral at 50 and the MACD histogram staying positive. Increased holdings by Ethereum’s top 500 wallets by 5% over the past month have eased selling pressure on Pepe, supporting its rise. Pepe coin continues to maintain its support at $0.00000947 and is expected to target $0.000015.

Market factors influencing these price movements include ETF expectations, technical formations, whale movements, and profit-taking activities. The contrasting price moves of DOGE and BONK highlight the volatile nature of the memecoin market, where investor sentiment and technical indicators play crucial roles in price fluctuations. While DOGE's price surge is driven by optimism over ETF approvals, BONK's decline is a result of profit-taking after recent gains. The gains in Shiba Inu and Pepe are supported by technical breakouts and increased holdings by major wallets, respectively.