XRP News Today: Ethereum Eyes $4,000 as XRP and Dogecoin Face Bearish Pressures

Ethereum is currently trading just below the $4,000 threshold, having broken out decisively from a consolidation phase around $3,000 earlier in July. The price movement has been marked by higher highs and higher lows, with moving averages aligning in a bullish configuration. The 21-day EMA is acting as dynamic support, and while volume has slightly tailed off, it remains stable. Analysts suggest that sustained accumulation and continued institutional inflows into US spot Ether exchange-traded funds could propel ETH above $4,000 if it holds firm above $3,750 [3]. However, the $4,000 level remains a significant resistance area, and a direct breakout without retesting is considered statistically unlikely. Bulls might expect a wick through the level, but maintaining price above that threshold will require strong buying pressure and momentum from traders [1].

XRP has seen a notable correction after a sharp parabolic breakout in July, with the price currently trading at approximately $3.11. The recent trend shows lower highs and lower closes, with no signs of aggressive buying or accumulation. The relative strength of the market has weakened, and the RSI, while still elevated, is declining, indicating waning bullish momentum. The $3 level is a key psychological and technical support, and if it breaks, the next potential support zone is between $2.99 and $2.75. Analysts have pointed to a potential further drop for XRP, forecasting it could fall below $3 [1]. The absence of volume support suggests the correction might not be complete, raising concerns about the token’s near-term stability.

Dogecoin is currently in a vulnerable position following a sharp correction that pushed its price back below $0.22. After briefly rising above $0.29, DOGE has retraced a significant portion of its recent gains. The move below key moving averages and the formation of lower highs and lower lows suggest an exhausted trend. The correction was accompanied by unusually high volume, indicating increased selling pressure and fewer buyers entering at lower levels. The RSI, which has moved out of overbought territory and is trending downward, reinforces the bearish outlook. Unless DOGE finds support near $0.21, it may face further declines, potentially testing levels as low as $0.20 or even $0.19 under worsening sentiment [2]. Analysts caution that the current setup lacks consolidation or reversal signals, making DOGE one of the more volatile and risky assets in the market.

The contrasting performances of Ethereum, XRP, and DOGE underscore the unpredictable and dynamic nature of the cryptocurrency market. While Ethereum shows potential for a breakout, XRP and DOGE face immediate headwinds. Investors are advised to closely monitor these developments, particularly as market sentiment and institutional activity continue to influence price movements.

Source:

[1] Cryptonews – [https://cryptonews.com/news/crypto-price-prediction-today-29-july-xrp-cardano-shiba-inu/](https://cryptonews.com/news/crypto-price-prediction-today-29-july-xrp-cardano-shiba-inu/)

[2] CoinGlass – [https://www.coinglass.com/news](https://www.coinglass.com/news)

[3] CoinGlass – [https://www.coinglass.com/newsflash](https://www.coinglass.com/newsflash)

[4] nequi.org – [https://nequi.org/](https://nequi.org/)