Dogecoin gets a leg up: Grayscale ETF gives memecoin a Wall Street tailwind

XRP's market momentum surged this week as it reached a key bullish target identified by a prominent trader, reinforcing confidence within the cryptocurrency community. The asset's price trends indicate a potential recovery phase, coinciding with institutional inflows and multiple ETF launches.

Dogecoin has begun to show its first technical reversal signal in weeks, despite ongoing stalled momentum and declining trading volume. The price action remains within a narrow consolidation range, but indicators suggest that selling pressure may be waning, hinting at a potential bounce that could initiate a structural recovery. A doji candle formation indicates market indecision, with a critical resistance level at $0.17 that could support a bullish reversal.

XRP experienced an 8% increase as Franklin Templeton and Grayscale launched their exchange-traded funds (ETFs) on the New York Stock Exchange (NYSE), marking a significant moment in the cryptocurrency market. This development is part of a broader trend where institutional interest in digital assets is growing, with multiple firms entering the ETF space.

The launch of XRP exchange-traded funds (ETFs) by Franklin Templeton and Grayscale on NYSE Arca marks a significant milestone in the cryptocurrency market, reflecting a growing acceptance of digital assets among mainstream investors. Trading for these ETFs commenced on November 24, 2025, following prior approvals from the NYSE, indicating a robust interest in cryptocurrency-linked financial products.

Grayscale's GDOG ETF is set to debut on November 24, 2025, amidst a challenging market for Dogecoin (DOGE), which is currently facing significant resistance at the $0.1495 level and short-term support at $0.144. This launch marks a pivotal moment for DOGE as it seeks to establish itself within the institutional investment landscape.

Dogecoin has experienced a notable rise in value as anticipation builds around the upcoming launch of Grayscale's Dogecoin ETF, scheduled for November 24, 2025. Analysts attribute this increase to a combination of meme enthusiasm and institutional inflows, despite ongoing technical uncertainties in the market.

XRP's price has slid to $2.08 following the debut of Grayscale's GXRP ETF, which failed to generate the anticipated market enthusiasm. Traders are now closely monitoring for potential breakdowns below $2.03, which could lead to further declines toward $1.91. This marks a continuation of a downward trend for XRP, which has seen significant volatility in recent weeks.

Dogecoin has shown signs of a potential recovery, as crypto analyst Bitguru identifies a bullish trend that has previously led to significant price rallies. This trend involves a pattern of price crashes into demand, followed by consolidation, and ultimately a rally. Currently, Dogecoin is in a consolidation phase, which may set the stage for another upward movement.