- Dogecoin and XRP fight alongside Bitcoin while the largest cryptocurrency hovers under the milestone of $ 100,000 on Wednesday.
- The Canadian Blockchain Company Neptune Digital Assets bought 1 million Dogery tokens.
- Bitwise, stammering funds and Rex actions seek to launch a Dogecoin Spot ETF in the United States, which is likely to catalyze the gains.
- XRP technical indicators show the probability of additional decline, price prospects become down.
DOGECOIN (DOGE) and the native token of XRPLEDGER Xrp Observe a correction on Wednesday, extending their losses for the last seven days. DOGE is down 2.43% and XRP lost almost 5% of its value during the day.
Between the two tokens, the largest piece of memes is likely to conduct recovery and the planned Altcoin season, during which 75% of the first 50 altcoins surpass Bitcoin over a period of 90 days.
Dogecoin added to the strategic reserve of a Canadian company listed on the stock market
Neptune Digital Assets, a Canadian blockchain company listed on the stock market, has acquired 1 million DOGE tokens, worth nearly $ 270,000, as part of a “strategic derivative purchase” on December 27, 2024. Details purchase were revealed in a disclosure Posted Tuesday by the cabinet.
Between January 26 and February 3, the company added 20 additional bitcoin chips, worth $ 2 million. Thus, Neptune’s digital assets have total BTC detention of 376 BTC (more than $ 37 million). The company shared plans to take advantage of Xits improved purchasing power by emphasizing the BTC.
Neptune is the second company listed on the stock market to buy Dogecoin, the first is Spirit Blockchain, another digital asset company. This decision marks an institutional request and an increasing adoption of Dogecoin among companies.
Crypto merchants are waiting for this catalyst for Doge Rally
Approval of the United States based on the United States Bitcoin ETF catalyzed a bull in the price of the BTC in 2024. The traders expect the model to be repeated with Dogecoin and await an approval of the ETF in Doge. Three companies, Bitwise, Osprey Funds and Rex Share, wish to launch an ETF Spot Dogecoin, a catalyst planned for the memes room.
At the time of writing the editorial staff, Dogecoin is negotiated at $ 0.256,18, with a market capitalization of $ 38.63 billion.
Why Doge and Non XRP could launch the Altcoin season
XRP, the native token of the Xrppedger, awaits a recovery in its token and the three main movers of the market influencing Altcoin are the tendency of bitcoin prices, the continuation of the Securities and Exchange Commission (SEC) against Ripple and a planned approval of the Xrp ETF Spot in the United States.
While XRP is further away from its objective of launching XRP ETF, Dogecoin is one more step without any trailer pursuit and three companies awaiting approval to launch the product for institutional investors in the United States.
The daily XRP / USDT price chart shows additional deterioration signs in Altcoin. The relative resistance index (RSI) reads 38 and is sloping downwards and the Mobile average convergence divergence indicator (MacD) flashes red histogram bars under the neutral line, signaling a negative underlying impulse in the price of the XRP price.
XRP could find support in the imbalance zone between $ 2,1491 and $ 2,3297, as seen on the daily price table.
XRP / USDT daily price board | Source: tradingView