$DOGE $XRP might be aiming at price reversals in the foreseeable future, while assets like $SNX are completely gone
XRP has been facing strong resistance in the form of the upper border of the descending price channel, which has pushed the asset down for the past 45 days. However, XRP recently saw a massive spike in trading volume of 680 million, indicating a potential breakout from the channel. While this is a positive development for XRP, it does not necessarily guarantee an acceleration of the rally.
The second scenario is that Dogecoin bounces from this bottom and starts moving upward until it faces the next resistance level. This could be a positive development for Dogecoin, as it would signal that the asset is starting to recover and gain strength once again. However, it is important to note that even if Dogecoin does bounce from this bottom, it does not necessarily mean that it will lead to an immediate acceleration of the rally. There are still several factors at play that could affect the asset's performance, including market sentiment and regulatory concerns.
However, despite its innovative features and growing popularity, SNX has been affected by the recent market trends that have caused a slump in the DeFi sector. The outflow of funds from DeFi protocols has contributed to a decline in the demand for SNX, which has resulted in the recent drop in its value.
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