Recently, XRP's price has plummeted below the 50 EMA, which frequently serves as a crucial support for bullish momentum. Many traders are wondering if a return to the $3 mark is still feasible given that the asset is currently having difficulty holding above $2.50. The obvious loss of the uptrend structure in XRP's current price action is the most worrisome aspect.

The level of $2.10 is the next crucial support level to keep an eye on. XRP may be pulled toward the 200 EMA, which is located at about $1.80 if the price is unable to stay above this zone. A recovery, however, is not completely out of the question. XRP is trying to form a local bottom and has found some temporary stability despite the steep drop. In order to form a bullish reversal, the price would have to push back above $2.80 and reclaim the 50 EMA as support.

XRP/USDT Chart by TradingView

This would pave the way for a retest of the $3 resistance zone, which served as a significant obstacle in the past. On the other hand, volume trends are declining, which suggests that there is less buying interest at the moment. XRP might find it difficult to maintain any recovery efforts in the absence of a sizable surge in demand. Additionally, the RSI is circling in neutral territory, indicating that no significant reversal is showing up just yet.

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The most likely scenario for the time being is that there will be further consolidation between $2.50 and $2.10. Should XRP break through the $2.10 support, the decline may quicken. However, a return to $3 might still be possible if buyers intervene and regain lost ground, even though there will be strong opposition first. 

Solana about to turn around

With its price hovering just above $200, a crucial psychological and technical level, Solana (SOL) is at a turning point. The impending crossover of the 50 and 100 EMAs may cause additional downside volatility, and recent price action indicates that SOL is having difficulty regaining momentum following its steep decline.

Solana is exhibiting signs of weakness as it is unable to recover lost ground, and it is currently trading at about $205. A bearish change in momentum is frequently indicated by the asset's decline below the 50 EMA and the 100 EMA's quick convergence. The completion of a bearish crossover between the two moving averages may increase selling pressure and cause SOL to drop below the $200 mark.

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The most direct level of support is $191, where buyers have intervened in the past to stop the decline. If this level does not hold, the next significant support, which corresponds to a prior demand zone is at about $175. 

SOL would enter a more severe correction phase if it broke below that, possibly testing the 200 EMA near $160. On the plus side, the 50 EMA is currently at $222, which is followed by the first significant resistance at $215. For there to be any possibility of a bullish reversal, SOL would have to spike back above these levels in order to indicate that there is new interest in buying. Declining activity in volume trends suggests that bulls are not very confident in the current levels. Despite being in neutral territory, the RSI is slightly skewed downward, which indicates that the bear market is still strong.

Dogecoin's dangerous test

Dogecoin is approaching a turning point as it approaches the 200 EMA, a level that may decide whether the meme coin continues on its upward trajectory or starts a protracted downward one. Following a sharp increase of more than 250%, DOGE has made a substantial retracement, wiping out the majority of its gains and testing important support levels that will determine its next course of action.

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Dogecoin is currently trading at about $0.266, a steep drop from its recent highs of over $0.44. Volume has increased in tandem with the decline, indicating that a sizable percentage of traders are selling their positions. The strong downward pressure suggests a wave of selling that might drive DOGE even lower, even though higher volume can occasionally indicate a reversal. The asset's 200 EMA is now its last line of defense. In the past, this level has served as a solid buffer, stopping additional drops. 

A short-term recovery may ensue if DOGE is able to maintain above this moving average, with possible upside resistance located close to $0.30 and $0.317. However, a complete shift into a downward trend could be confirmed if the price drops below the 200 EMA, with $0.22 serving as the next significant support. The EMA's convergence, which indicates increasing bearish momentum, adds to the worries. 

These moving averages may accelerate the decline and cause more investor capitulation if they cross downward. Since the RSI levels are currently at 40, it appears that DOGE is not yet oversold and has the potential to further decline. To keep from dropping below the 200 EMA at this point, Dogecoin needs strong buying support. 

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