XRP, DOGE, INJ: The Must-Watch Cryptocurrencies of the Week

In the wake of Bitcoin’s slump and the subsequent $100 billion loss in the global crypto market cap, this week’s spotlight falls on three top cryptocurrencies: XRP, Dogecoin, and Injective. Bitcoin recently reached a two-year high of $49,000 but has since dropped to $41,807.60. XRP, which had previously dropped to $0.50, managed to recover the $0.55 price threshold. However, bears have been pushing XRP below this level, resulting in a bearish consolidation between $0.5216 and $0.5895. Dogecoin, on the other hand, showed resilience and recorded a surprising 7% gain amidst the bearish pressure. It breached the $0.09 resistance point and closed the day with an 11.71% gain. Injective succumbed to the bearish pressure and faced a significant drop, but it is currently attempting to recover some of its losses. The formation of a bullish pennant structure suggests a pause to the uptrend and a potential continuation.