XRP in Danger, Solana at Key Level, and Dogecoin Attracts Big Buyers

A crypto analyst, Ali Martinez, has pointed out that XRP must maintain its position above a critical price threshold to prevent a sharp decline.

Martinez noted that if XRP were to drop under $2, it could face a deeper downturn due to a lack of support in that range.

He highlighted that the token is currently testing a crucial level, warning that a slip below $2 could see it tumble toward $1.60 due to a weak support structure in that price zone, as suggested by on-chain data from Glassnode. At the moment, XRP is trading at $2.56.

Shifting focus to Solana (SOL), Martinez described a major resistance level just slightly above its current price. He emphasized that $135 is the key level SOL must overcome to establish a more bullish trend.

Additionally, he pointed out that many Solana holders are experiencing losses, as reflected in the asset’s net unrealized profit/loss (NUPL) indicator, which is currently sitting below zero. This suggests that a significant number of investors are capitulating. Solana is presently priced at $132, still down about 55% from its peak of $293, which it reached on January 20.

Turning to Dogecoin (DOGE), Martinez noted a surge in demand over the past week. According to him, large investors have been accumulating the meme coin aggressively, with over 110 million DOGE acquired in that short span. He suggested that this buying activity could indicate expectations of an upcoming breakout.