The cryptocurrency market experienced a significant correction, with over $500 million in long positions liquidated in just 24 hours. Bitcoin saw a drop to around $116K, while XRP fell below the key $3 support mark, indicating potential weakness in these assets. Despite some bullish sentiment, traders are advised to exercise caution as technical indicators suggest caution for Bitcoin, with its Relative Strength Index (RSI) at 47 and Average Directional Index (ADX) at 21, pointing to a trendless state. Ethereum, however, maintained stronger momentum despite a dip to just above $4,300, with its RSI at 61 and an ADX of 46, indicating a powerful trend still in place. XRP's RSI of 47 shows mild bearish pressure, with traders split on whether it will regain momentum or experience further declines. Overall, while profit-taking was prevalent, the technicals suggest a wait-and-see approach for traders looking for direction in the coming sessions.

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