XRP and Dogecoin Prices Plummet as Selling Pressure Intensifies

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The cryptocurrency market faced significant selling pressure at the start of the week. Ripple $2 ’s XRP dropped by 7% to $2.00, while Dogecoin $0.14279 fell by 9% to $0.137. Despite inflows into ETFs, institutional investors’ heavy selling pushed prices below critical support levels, indicating a decline in overall market risk appetite.

XRP’s Consolidation Structure Disrupted

The loss of the $2.16 support level for XRP revealed the breakdown of a three-week lateral trend. With daily trading volume reaching 309 million coins, it was confirmed that professional investors were exiting. Although the price fell from $2.21 to $2.00, ETF inflows failed to balance the short-term selling wave.

Data indicates that spot XRP ETFs, including 21Shares’ new TOXR ETF, saw an inflow of $666.6 million in November. However, XRP supply on exchanges decreased by 45% during the same period, with whale wallets collecting 150 million XRP since November 25th. Liquidity rapidly contracted due to derivatives positions unwinding. Technically, losing the $2.05–$2.00 range could lead to a drop towards the $1.80–$1.87 demand zone. Conversely, closing above $2.16 could strengthen the bullish scenario again.

Dogecoin ETFs Fall Short of Expectations

Dogecoin’s selling pressure accelerated after breaking the $0.1495 support level. The weak demand of $2.16 million for spot DOGE ETFs, launched by Grayscale and Bitwise, failed to bring the anticipated institutional interest. Market participants reduced their positions amid high volatility and low liquidity conditions, with volume reaching 1.56 billion coins, six times the daily average. This heavy trading volume indicated algorithmic sales and liquidations.

Technical indicators provided by CryptoAppsy suggest oversold signals for DOGE, yet there is no indication of a momentum reversal. The price has been moving laterally within the $0.1370–$0.1383 range. The $0.1495 level now serves as a strong resistance, and a dip below $0.1350 could deepen the sell-off to $0.1320. On the contrary, a volume-backed recovery within the $0.1420–$0.1450 band might be the first sign of a return in buyer interest.