The week’s cryptocurrency focus centered on price movements and analyst sentiment for three major assets. XRP showed indicators of a potential bullish shift despite a minor weekly decline, while Ethereum failed to breach the $2,500 resistance. Dogecoin remained the top meme coin, with some observers anticipating significant future price increases despite its current valuation below $0.10.
Ripple‘s cross-border token, XRP, slightly retraced over the past week to approximately $1.42. The popular analyst Ali Martinez outlined three factors suggesting a possible shift from bearish to bullish. These include a buy signal from the SuperTrend indicator, large investors purchasing 300 million XRP last week, and a decline in XRP held on exchanges.
Martinez stated the breakout would be validated if the price closes above $1.55 daily. “The bullish outlook remains intact as long as XRP maintains the $1.30 support zone,” he concluded.
Ethereum failed to reach $2,500, retracing to around $2,300. The analyst CRYPTOWZRD claimed breaking above the $2,380 resistance could open the door to a renewed uptrend. CryptoTony added, “A reclaim of $2360 and we can talk a leg up and a safer long entry, but not for now.”
Some industry participants made extreme forecasts, including Bitmine’s Tom Lee, who envisioned a parabolic ascent to $250,000. Bitmine has been aggressively buying ETH and now controls over 4% of its circulating supply.
Dogecoin slipped below $0.10 but remains the tenth-largest cryptocurrency. An analyst recently opined that DOGE has traded above a certain support zone since 2021. According to him, a rise to $0.40 could set the stage for a jump to an all-time high of $1.
Other analysts who chipped in lately include Mikybull Crypto and Cryptollica. Mikybull Crypto sees Dogecoin “so primed for a big move,” while Cryptollica envisioned a possible explosion to $1.60. Whale activity was also noted, with large holders scooping up 330 million coins in a few days.
