Both assets are slighly in the red now.

The cryptocurrency market experienced a substantial revival on Monday, with numerous assets posting impressive gains, including DOGE and XRP.

However, the tides have turned, perhaps expectedly after such a rally, and both assets have flashed red now. Moreover, there are some worrying signs about further corrections.

XRP outperformed the rest of the larger-cap alts during the weekend, closing on Sunday with a 12% surge. It kept climbing on Monday and tapped a multi-week peak of $2.65.

This significant increase was perhaps driven by the positive developments within the company behind the asset and came despite the growing sell-offs by whales. Although XRP’s run was stopped there, it still trades above $2.60 as of press time.

However, Ali Martinez noted that the TD Sequential, a metric used to determine whether the underlying asset has reached an exhaustion point in each direction, had flashed a sell signal, which could lead to an immediate retracement.

The landscape around Dogecoin is identical as the OG meme coin posted notable gains during the weekend and challenged the $0.22 resistance. However, its 24-hour decline has been more painful. After getting rejected at that level, the asset has slumped by nearly 5% and is now just inches below $0.20.

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Aside from the overall market-wide correction, another possible reason behind today’s drop is the behavior of whales. Martinez noted that such large market participants have been on a selling spree, disposing of 500 million tokens within the span of just a week.

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bitcoinBitcoin
$ 68,698.00
$ 68,698.00
2.79%
ethereumEthereum
$ 2,138.35
$ 2,138.35
4.76%
tetherTether
$ 0.999485
$ 0.999485
0.04%
xrpXRP
$ 1.36
$ 1.36
3.2%
bnbBNB
$ 616.32
$ 616.32
1.51%
usd-coinUSDC
$ 0.999868
$ 0.999868
0.02%

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bitcoin
Bitcoin (BTC) $ 68,698.00
ethereum
Ethereum (ETH) $ 2,138.35
tether
Tether (USDT) $ 0.999485
xrp
XRP (XRP) $ 1.36
bnb
BNB (BNB) $ 616.32
staked-ether
Lido Staked Ether (STETH) $ 2,265.05
usd-coin
USDC (USDC) $ 0.999868