Crypto majors are reeling from a wave of volatility, with XRP, Cardano (ADA), and Dogecoin (DOGE) plunging below key technical support levels early on Monday.
Macroeconomic uncertainty stemming from a global tariff war — dubbed an “economic nuclear war” by hedge fund manager Bill Ackman — is reeling markets from crypto to global equities, with bitcoin under $79,000 and major tokens down 14%.
XRP Price Analysis
XRP, which powers the XRP Ledger, slipped to $1.90 with a 14%. On the daily chart, XRP has breached its critical support at $2.00 — a level that previously held firm as psychological and technical bedrock. This breakdown completes a bearish head-and-shoulders pattern, a signal of potential further downside.
Technical indicators reinforce the bearish outlook. The 21-day exponential moving average (EMA) sits at $2.20, acting as a resistance after XRP failed to reclaim it in past weeks. The relative strength index (RSI) has dipped into negative territory, hovering near 30, suggesting selling pressure outweighs buying interest.
ADA Price Analysis
Cardano’s ADA token trades at 55 cents, down 12% in the past 24 hours, below its 50-day simple moving average (SMA), a critical support that had propped up the price since mid-March. This breach on the daily chart aligns with a broader descending triangle pattern, hinting at continued bearish control.
The RSI for ADA sits at 38, teetering on the edge of oversold territory, while the Moving Average Convergence Divergence (MACD) shows a bearish crossover, with the signal line dipping below the MACD line.
The next support lies at nearly 35 cents, a level tested in late 2024, but a break below could drag ADA toward $0.40, a 30% drop from current levels.
Bulls would need to reclaim 60 cents and flip it into support to negate the bearish thesis, though macroeconomic headwinds — fueled by tariff threats and a 20% crypto market cap loss this year — make that a tall order.
DOGE Price Analysis
Memecoin darling dogecoin (DOGE) has tumbled to $0.16, down nearly 15% in the last 24 hours. It sliced through support at 18 cents, a level that marked the base of a consolidation range since early March.
On the 4-hour chart, a death cross has emerged, with the 50-period SMA crossing below the 200-period SMA, signaling a potential trend reversal to the downside.
The RSI for DOGE is deep in oversold territory at 28, hinting at possible short-term relief, but the 20-day EMA at $0.21 looms as a stiff resistance. If bears maintain control, DOGE could sink to $0.14, aligning with its December 2024 lows.