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Crypto markets slip as major tokens fall
Dogecoin and XRP lead a broader crypto retreat ahead of Powell's Jackson Hole speech
Markets pull back after a summer rally as DOGE and XRP lead the crypto retreat ahead of a key Federal Reserve speech.
Dogecoin and XRP Bleed Markets Slip
Crypto markets slipped again, with total cap down 3.4% to below 3.9 trillion after a summer rally. Bitcoin touched a near three week low, and Dogecoin and XRP fell more than the market average. Dogecoin opened around 0.225 and closed at 0.212, a 4.42% drop, while XRP fell from 3.063 to 2.911, down 4.95%.
Key Takeaways
"Momentum has slipped into the red"
analyst observation on trend strength
"This is not a bounce it’s a test of support"
trader perspective on impending price action
"Powell could tilt the balance toward more selling"
policy impact assessment
"Markets want a reason to buy not a reason to panic"
market sentiment note
Trading volume fell to about 180 billion, as investors pare risk ahead of Powell's Jackson Hole speech. The Fear and Greed Index sits at 53, neutral, indicating a cautious mood. Dogecoin is in a price compression with the 50-day moving average near the 200-day, raising the risk of a break lower. XRP tests support near 2.75 to 2.70, where a break could invite more selling and stop-loss pressure.
Highlights
- Momentum has slipped into the red
- This is not a bounce, it’s a test of support
- Powell could tilt the balance toward more selling
- Markets want a reason to buy not a reason to panic
Policy and market risk loom
The slide in DOGE and XRP comes as markets await Powell’s Jackson Hole remarks. A hawkish stance could deepen losses, while policy signals may trigger sharp volatility.
Markets seldom stay in a straight line; the next move will reveal if the slide is a pause or a shift.
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