On-chain data for XRP shows a notable spike in burn activity, suggesting a potential reduction in sell pressure and a foundation for price recovery. According to data from CryptoQuant, the amount of XRP burned as transaction fees increased by approximately 1% over 24 hours, reaching about 400 XRP on January 25. Analysts interpret this rise as a bullish sign, indicating growing use of XRP for payments, which historically supports price recoveries. Despite trading in "deep red territory," this network activity hints at improving underlying momentum.
Meanwhile, Dogecoin (DOGE) recorded a massive 197% surge in trading volume, hitting $1.29 billion, according to CoinMarketCap data. This volume spike occurred despite ongoing price volatility and a bearish overall outlook for the meme coin. Analysts note that higher trading volume can reduce extreme price swings and improve short-term liquidity, potentially signaling a revival of retail interest that could trigger a recovery.
Veteran trader Peter Brandt has provided a key technical level for Bitcoin, stating the coin must reclaim $93,000 to negate its current downtrend. Brandt, who describes Bitcoin as being in a completed "bear channel" after a more than 5.2% drop over the past week, maintains a bearish outlook. He argues that unless BTC stabilizes above the $93,000 mark, the bearish momentum is likely to continue or pause before further downward movement.
Separate price analysis for Ethereum, XRP, and Dogecoin contextualizes these metrics within a broader market slump. Ethereum's price is seen as attempting to turn a corner, with its daily chart printing higher lows. Analysts suggest a move back toward $5,000 is possible if support holds, partly fueled by expectations from the recent Fusaka upgrade designed to strengthen economic links with Layer 2 networks.
For XRP, the critical support level is identified at $1.80, with analysts stating that holding above this level is crucial for any recovery attempt. A break above the $2.30–$2.50 resistance zone would signal a momentum shift. Dogecoin is described as struggling within a bearish descending channel, with a key resistance level around $0.14. A breakout above this level is needed to confirm any trend reversal.
