XRP, DOGE Suffer Heavy Losses Amid Crypto Pullback

The crypto market has been experiencing a pullback after a strong start to the week. Assets like XRP and DOGE have taken a hit, with XRP dropping over 7% in the past 24 hours and trading near $1.48.

According to Santiment's MVRV (Market Value to Realized Value) metric, long-term holders of XRP and DOGE are currently holding unrealized losses, with their 365-day MVRV standing at around -11.75% and -19.26%, respectively.

This could be a bullish signal for the assets, as lower MVRV readings can indicate lower selling pressure. In previous instances, periods of heavy unrealized losses have led to longer-term recovery opportunities.

XRP's native token is trading near the $1.48 level, and analyst Ali Martinez believes that 'everything comes down to $1.60.' A decisive break above this level could confirm a pattern and trigger another 30% rally toward $2.