Bitcoin Clings to Support at the 50-Day Moving Average, With XRP Vulnerable to a Dogecoin-Style Drop in Momentum

Bitcoin’s Bulls Face Pivotal Test at 50-Day Support; XRP Teeters Near Bearish Breakdown

Bitcoin is once again on the edge of a critical technical level, and whether it holds could determine the next big move in crypto markets.

The old adage goes: “Once is a chance, twice is coincidence, and the third time makes a trend.” That sentiment rings true for bitcoin (BTC), which has returned to its 50-day simple moving average (SMA) for the third time this month.

On the first two occasions, this moving average served as a dependable safety net, fueling rebounds higher. Now, bulls are hoping a third bounce will solidify a trend where the 50-day SMA acts as the launchpad for fresh gains. But if bitcoin loses its footing here, sellers could seize control, potentially dragging prices below the $100,000 threshold.

So far, signs of buyer fatigue are becoming more evident. Previous rebounds off the 50-day SMA have been shrinking in size. The initial test on June 5 sparked a rally from around $100,500 to beyond $110,000. By contrast, the second retest on June 17 yielded a smaller climb, with prices moving from $103,000 to only $109,000.

Adding to the cautious outlook is the recent appearance of a Doji candlestick pattern—a signal of indecision and potential weakness among bulls hovering above $100,000. Analysts say a strong, high-volume breakout above $110,000 would be needed to revive immediate bullish momentum.

XRP May Follow DOGE into Bear Territory

Meanwhile, XRP (XRP) is showing warning signs similar to dogecoin (DOGE) earlier this month. XRP is currently hovering at the lower edge of the Ichimoku cloud, a well-known momentum and trend indicator invented by a Japanese journalist in the 1960s.

Crossing below the Ichimoku cloud often signals a shift into bearish territory, prompting traders to consider reducing exposure or even betting against the asset. Dogecoin recently slipped below its cloud boundary, sparking further price losses.

XRP’s technical backdrop is already troubling, as its 50-day SMA has fallen beneath the 200-day SMA, forming the so-called “death cross”—a bearish signal closely watched by technical traders. A decisive drop below the cloud could pave the way for XRP to slide beneath the $2 level.

On the charts, critical support for XRP sits at around $1.60, representing lows from early April. Several altcoins—DOGE, ADA, and LINK among them—have also recently dipped below their respective Ichimoku clouds, resulting in significant price declines.