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  • solanaSolana (SOL) $ 150.61
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,268.15
  • xrpXRP (XRP) $ 0.544856
  • dogecoinDogecoin (DOGE) $ 0.171450
  • the-open-networkToncoin (TON) $ 6.74
  • cardanoCardano (ADA) $ 0.507359
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  • arweaveArweave (AR) $ 27.32
  • bitget-tokenBitget Token (BGB) $ 1.27
  • celestiaCelestia (TIA) $ 9.73
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  • mantle-staked-etherMantle Staked Ether (METH) $ 3,335.17
  • suiSui (SUI) $ 1.23
  • flokiFLOKI (FLOKI) $ 0.000158
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  • flowFlow (FLOW) $ 1.01
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  • neoNEO (NEO) $ 19.31
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  • whitebitWhiteBIT Coin (WBT) $ 9.18
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,255.61
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  • tokenize-xchangeTokenize Xchange (TKX) $ 14.71
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  • conflux-tokenConflux (CFX) $ 0.269692
  • havvenSynthetix Network (SNX) $ 3.16
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  • gatechain-tokenGate (GT) $ 7.52
  • roninRonin (RON) $ 3.21
  • worldcoin-wldWorldcoin (WLD) $ 5.39
  • kucoin-sharesKuCoin (KCS) $ 10.00
  • msolMarinade staked SOL (MSOL) $ 177.53
  • pyth-networkPyth Network (PYTH) $ 0.632130
  • cheeleeCheelee (CHEEL) $ 16.44
  • decentralandDecentraland (MANA) $ 0.495978
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  • mina-protocolMina Protocol (MINA) $ 0.830722
  • heliumHelium (HNT) $ 5.30
  • aerodrome-financeAerodrome Finance (AERO) $ 2.11
  • akash-networkAkash Network (AKT) $ 3.63
  • pancakeswap-tokenPancakeSwap (CAKE) $ 3.23
  • iotaIOTA (IOTA) $ 0.253814
  • apecoinApeCoin (APE) $ 1.30
  • kavaKava (KAVA) $ 0.753550
  • dexeDeXe (DEXE) $ 13.76
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,297.91
  • echelon-primeEchelon Prime (PRIME) $ 20.71
  • frax-etherFrax Ether (FRXETH) $ 3,250.99
  • nexoNEXO (NEXO) $ 1.32
  • klay-tokenKlaytn (KLAY) $ 0.202336
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000035
  • usddUSDD (USDD) $ 0.997620
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Will XRP Return at $0.5? DXY Golden Cross Can Send Crypto Down, Cardano Turns off Bullish Mode

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XRP is currently facing a critical crossroads. The question is whether XRP can maintain its position at the $0.5 mark or if the recent breakdown below multiple moving averages signals a more substantial retreat.

At a glance, the XRP chart displays a troubling picture for bulls. The asset has recently faltered below several key moving averages, which traditionally act as layers of support. The 50-day, 100-day and 200-day moving averages have now turned into resistance levels, which XRP would need to overcome to reclaim bullish momentum. These moving averages, particularly the 200-day, are closely watched by traders and can often dictate the medium to long-term trend direction.

Will XRP Return at $0.5? DXY Golden Cross Can Send Crypto Down, Cardano Turns off Bullish Mode

The current resistance levels are set near $0.5587 and $0.5850, which represent recent local highs and the proximity of the 50-day moving average. A successful break and close above these points could signal a potential reversal of the recent downtrend. Conversely, the support levels to watch are at $0.4700 and $0.4500, where buyers have historically shown interest.

If XRP can consolidate and push back above the $0.5 threshold, it would need to sustain the upward movement and close above the aforementioned moving averages. This could instill confidence among traders, potentially igniting a rally toward higher resistance levels.

Dangerous growth

The U.S. Dollar Index serves as a barometer for the strength of the dollar against a basket of foreign currencies and often has an inverse correlation with the cryptocurrency market. Recently, technical analysts have been eyeing the formation of a «Golden Cross» on the DXY chart — a bullish signal where the 50-day moving average crosses above the 200-day moving average. If this pattern comes to fruition, it could spell trouble for the cryptocurrency market, traditionally sensitive to a strengthening dollar.

The DXY chart currently shows the index hovering around the 103.87 mark, with the 50-day moving average creeping toward the 200-day moving average. A Golden Cross formation would typically indicate that a long-term uptrend is on the horizon for the dollar, suggesting increased buying momentum.

The link between the DXY and cryptocurrencies is evident; a stronger dollar often leads to a decrease in the price of digital assets like Bitcoin and Ethereum. Investors typically flock to the security of the dollar in uncertain economic times, which can result in a pullback for risk-on assets like cryptocurrencies. If the Golden Cross in the DXY indeed materializes and triggers a dollar rally, the cryptocurrency market may see a corresponding downturn as capital flows out of digital assets and into the traditional refuge of fiat currency.

Cardano no longer bullish

Cardano has recently exhibited signs of a trend reversal, stepping out of its bullish mode. This shift in momentum has prompted discussions among investors and traders as they reassess the asset’s near-term prospects.

After a period of sustained upward movement, ADA has broken below its rising channel, a structure that typically signifies bullish sentiment. This breakout to the downside indicates a potential shift to bearish momentum or at least a pause in the uptrend. The price is now hovering around $0.575, just below the lower boundary of the former channel, suggesting a possible new resistance level.

Looking at support levels, the immediate one is at $0.5385, which is critical for ADA to hold to prevent further declines. A break below this support could lead to a test of the next support level at around $0.5112, where the 50-day moving average may offer some buoyancy to the price.

Cardano’s current trajectory points to a cooling-off period following its exit from the bullish channel. The volume profile shows a decrease during this downturn, potentially signaling a lack of conviction among sellers. However, for ADA to regain its bullish stance, it would need to reenter the channel and sustain a push above the $0.60 mark, challenging recent highs around $0.68.

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