Kategorie: Crypto Markets

• Dogecoin price is down 5% in 24 hours to hover near $0.22.
• The DOGE price movement is similar to that of most altcoins that are seeing profit-taking.
• Analysts are bullish on DOGE as whale accumulation continues.

Dogecoin (DOGE) has experienced a slight decline in the past 24 hours, dropping to lows of $0.22 amid a technical pattern breakdown.

The top memecoin’s price movement mirrors the broader cryptocurrency market’s price action in the past few days.

Bitcoin dipping to below $117k and Ethereum paring gains from near its all-time high buoyed bears.

While profit taking is driving current downside pressure, analysts are bullish on Dogecoin amid whale accumulation, spot ETF anticipation and long-term crypto trajectory.

Dogecoin price dips amid profit-taking

The latest decline in Dogecoin’s price has seen it breach a critical support level, driven by profit-taking and overall investor uncertainty.

DOGE reached highs of $0.24 as bulls attempted a breakout after an uptick from lows of $0.21 in the past week.

But as investors, wary of macroeconomic uncertainties, took profits, the top memecoin’s price dropped from above $0.24.

The move aligns with a rising wedge breakdown, which has accelerated the downturn to the support level around $0.22.

Bulls could face more pressure towards the psychological $0.20 area.

Despite the bearish price action, on-chain data reveals large investors are buying the dip.

Whale wallets, which have historically scooped DOGE amid price dips, have added to their portfolios.

Aggressive buying by whales has seen such wallets approach 100 billion DOGE in the past few weeks, the trend picking up momentum in the latest dip.

This is an outlook that could help DOGE price higher.

However, the memecoin is likely to hit the rocks if the Dogecoin network suffers a setback from a potential 51% attack, which could undermine network integrity if executed.

DOGE price prediction

The technical outlook for Dogecoin remains largely bullish, despite its notable dip in the past 24 hours.

However, losses have compounded to more than 12% in the past month, and the breakdown below $0.23, a critical threshold, has opened the door to further downside risks.

DOGE has, on multiple occasions, failed to convincingly break above the $0.24 mark.

With this supply wall helping to repeatedly cap Dogecoin’s upward potential, bears have tried to take advantage.

The breakdown of the rising wedge means the next target could be $0.20 or below.

Broader market conditions deteriorating will embolden bears.

Conversely, bullish signs that could help bulls include the recently formed golden cross and whale activity.

The technical indicators on the daily chart also show that DOGE is above the middle line of the Bollinger Bands, and the MACD is also holding onto the bullish picture.

Daily RSI is suggesting extended pressure, though.

If buyers reclaim the $0.23 level, a retest of $0.40 and $0.65 is possible. Analysts say a breakout to $1 in 2025 is still possible.

The post Dogecoin price falls to $0.22 after pattern breakdown appeared first on CoinJournal.

• Crypto leverage surges 27% to $53.1 billion, its highest since early 2022.
• A recent Bitcoin dip triggered a massive $1 billion liquidation of long bets.
• Stress points are emerging in DeFi lending and key dollar markets.

A ghost from bull markets past is haunting the cryptocurrency landscape: massive, unrestrained leverage.

A speculative fever is once again gripping traders, pushing borrowing to levels not seen since the last cycle’s peak.

But as a brutal billion-dollar liquidation event last Thursday proved, this double-edged sword can carve out devastating losses just as quickly as it creates gains.

The scale of this renewed appetite for risk is staggering. According to Galaxy Research’s Q2 State of Crypto Leverage report, the market for crypto-collateralized loans swelled by an incredible 27% last quarter, reaching a total of $53.1 billion.

Powered by record demand in DeFi and a return to risk-on sentiment, this represents the highest level of leverage in the system since the precarious heights of early 2022. This mountain of debt created the perfect backdrop for the violent shakeout that was to come.

The inevitable spark: a billion-dollar wipeout

When Bitcoin retreated from its high of $124,000 to as low as 118,000 last week, the over leveraged system snapped.

The price drop triggered a cascade of liquidations across crypto derivatives, wiping out more than 1 billion in long positions—the largest such event since early August.

While many analysts were quick to frame the purge as healthy profit-taking, it served as a stark and painful reminder of just how fragile the market becomes when speculative bets build this rapidly.

Cracks in the foundation

According to Galaxy’s analysts, this fragility is not just theoretical; the stress points are already visible and spreading. In July, a wave of withdrawals on the lending platform Aave caused ETH borrowing rates to spike above Ethereum’s staking yields.

This seemingly small shift broke the economics of the wildly popular “looping” trade, where investors use staked ETH as collateral to borrow more ETH to stake again.

The sudden unwinding of these positions triggered a frantic rush for the exits, overwhelming the network and sending the Ethereum Beacon Chain’s exit queue to a record-breaking 13 days.

The trouble doesn’t end there. Galaxy has also flagged a growing and worrying disconnect in the dollar markets. Since July, the borrowing costs for USDC in the over-the-counter (OTC) market have been climbing, even as rates on DeFi platforms remain flat.

This has widened the spread between the two to its highest point since late 2024, suggesting off-chain demand for dollars is critically outpacing on-chain liquidity. It is a dangerous mismatch that could dramatically amplify volatility if market conditions tighten.

Beneath the deceptive calm of a market waiting for Fed Chair Jerome Powell’s next move, a different story is unfolding.

While institutional demand and ETF inflows paint a bullish picture, the system’s plumbing is showing more and more points of stress.

Last Thursday’s billion-dollar flush was not an anomaly; it was a warning that the return of leverage is a fire that can warm the market or burn it to the ground.

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• Single-hour volume hits 436.98M units, one of Q3’s highest.
• Support holds at $3.05–$3.09 amid heavy selling.
• Resistance at $3.13 and $3.20 eyed for short-term reversal.

XRP’s price fell in the last 24 hours, sliding from $3.34 to $3.10, as cryptocurrency markets faced over $1 billion in liquidations.

The token is currently trading at $3.10, down 3.95% in the same period, after touching $3.05 — its lowest level in more than a week — before stabilising.

Heavy midday trading saw one of the largest single-hour volumes this quarter, with institutional support emerging near the lower price range.

Despite the pressure, late-session buying helped the token edge back above short-term resistance, indicating potential early accumulation from large holders.

Traders are closely monitoring whether this shift marks the start of a broader recovery or simply a pause before further declines.

Market-wide liquidations trigger steep drop

The decline was part of a broader market correction that coincided with profit-taking in US equities, shifting investor sentiment. Market-wide liquidations surpassed $1 billion, with XRP facing a midday capitulation event.

At 12:00, prices fell from $3.22 to $3.09 on heavy selling, contributing to a single-hour volume spike of 436.98 million units. This was among the largest trading bursts for the token this quarter, reflecting a high level of speculative positioning being unwound in rapid succession.

Ripple’s chief technology officer reiterated the XRP Ledger’s readiness for integration into global financial infrastructure during the downturn, offering a layer of fundamental confidence despite short-term volatility.

Price action and volatility levels

Over the 24-hour period from 03:00 on 14 August to 02:00 on 15 August, XRP saw a trading range spanning $3.34 to $3.05, representing an 8.69% volatility swing.

After the midday drop, the price traded in a narrow $3.05–$3.13 band, signalling reduced sell-side momentum. In the final 60 minutes of trading, two notable volume surges of 4.53 million and 3.76 million units emerged, suggesting renewed institutional interest at support.

Such inflows into spot markets after a sharp drop often point to strategic positioning by larger investors seeking to capitalise on discounted price levels.

Key technical levels to watch

Support has been confirmed between $3.05 and $3.09, tested repeatedly during periods of intense selling. Immediate resistance now sits at $3.13, with a secondary level at $3.20. Declining volumes after the midday spike point to liquidation exhaustion.

The recovery above $3.10 in low-liquidity conditions suggests early-stage re-accumulation could be underway, although follow-through buying above $3.13 will be needed to confirm a short-term reversal.

Factors traders are monitoring

Market participants are watching whether $3.05 will hold in the next wave of volatility, particularly if market-wide liquidations occur again.

Large-holder wallet activity is being tracked for signs of accumulation, and shifts in funding rates in XRP derivatives markets are under review for possible leveraged re-entry.

Correlation with equity markets remains important, with US Federal Reserve rate cut expectations continuing to influence risk sentiment.

As global markets remain sensitive to macroeconomic signals, cryptocurrency price action is expected to remain closely linked to investor appetite for risk assets.

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• Ripple CTO says XRPL’s maturity, low fees, and flexibility make it ideal for future global finance.
• XRPL offers a permissionless design with optional regulated features for broad financial use cases.
• Proof-of-Authority consensus gives XRPL fast, predictable settlement for institutional-grade payments.

Ripple’s Chief Technology Officer (CTO), David Schwartz, has outlined how the XRP Ledger’s (XRPL) architecture and history position it as a competitive choice for powering future global financial systems.

His remarks come as more payments and stablecoin companies develop their own blockchains, reflecting a wider industry move to treat blockchain as core infrastructure rather than an experimental technology.

With financial institutions increasingly exploring blockchain for cross-border payments, asset tokenisation, and stablecoin issuance,

Schwartz’s emphasis on XRPL’s maturity highlights its potential role in meeting regulatory requirements and scaling operations for long-term, large-scale institutional-grade adoption worldwide.

XRPL’s maturity and role in financial infrastructure

According to Schwartz, Ripple adopted the vision of blockchain-based financial infrastructure over 13 years ago, using XRPL as the foundation. Over time, consistent updates and increasing institutional adoption have built a base of reliability, liquidity, and developer trust.

He noted that launching a blockchain is challenging, but building a sustainable ecosystem is significantly harder.

The XRPL’s long-standing presence, compared to newer blockchains, gives it a maturity advantage in supporting varied financial operations at scale, particularly in sectors where trust, compliance, and operational continuity are critical for long-term success.

Permissionless design with optional regulated features

A key distinction Schwartz made was between XRPL’s public, permissionless validator network and the permissioned models used by some other chains.

While permissioned systems can assist with compliance, their limited validator set can restrict global reach.

XRPL’s approach offers open participation for resilience and inclusivity, while still enabling optional permissioned features for regulated environments.

This flexibility, Schwartz said, allows XRPL to support a broad range of financial use cases.

Transaction fees remain low and predictable, paid in XRP, which also functions as a bridge asset for cross-border payments.

Importantly, XRPL does not require a separate gas token, reducing complexity for both developers and end-users.

Predictable settlement through Proof-of-Authority

Another differentiator highlighted was XRPL’s deterministic finality for transactions. Its Proof-of-Authority consensus model provides reliable settlement times, a feature that aligns with growing demand for predictable and compliance-friendly payment rails.

This makes XRPL a candidate for financial institutions seeking both speed and certainty in transaction processing, even in high-volume and cross-border scenarios.

Future developments to enhance institutional appeal

Schwartz expects the next phase of XRPL development to focus on improving programmability and liquidity. Compliance-grade capabilities are also on the roadmap, aimed at attracting more institutional participants.

As more blockchain developers enter the market, Schwartz sees this broader industry expansion as beneficial to the entire ecosystem and an opportunity for established platforms to demonstrate their advantages with sustained real-world adoption.

He concluded that XRPL’s combination of history, design, and adaptability positions it well for the next wave of blockchain-driven finance, with Ripple committed to refining the ledger for broader adoption.

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