DOGE, XRP Rebound Following Recent Declines – Market Updates Bitcoin News

Following two days of declines, dogecoin rebounded earlier in today’s session, moving away from a key level of support. As bulls bought the dip, meme coin surged from a near-one month low. Also, the token previously known as ripple (xrp), was higher.

Dogecoin (DOGE).

Dogecoin (DOGE) was a notable gainer in today’s session, as the meme coin rebounded following recent losses.

So far, the floor for DOGE/USD was $0.0580. But prices rose beyond that level today.

The world’s tenth largest cryptocurrency rose to a high of $0.06068 earlier today, as bulls seemingly have their sights set on a resistance point.

DOGE/USD – Daily Chart

The chart shows that this ceiling is $0.0620, the mark which was reached ten days before the last October 10th.

Currently the relative strength index for 14 days (RSI) has reached a resistance level and is tracking at 47.50

If bulls of dogecoin want to raise prices, they would need to first see the current hurdle break.

XRP, formerly called ripple, was another important mover as the price bounced from its initial support.

After a Wednesday low of $0.4501, XRP/USD surged to an intraday high of $0.4638 earlier in the day.

Today’s move sees XRP snap a two-day losing streak, bouncing from a support of $0.4500 in the process.

XRP/USD – Daily Chart

The 10-day moving average (MA), which is red in color, has fallen below its counterpart of 25 days (blue).

Although today’s prices are up, the shift in moving medians may indicate that there will be more price drops.

Momentum in XRP’s movement has changed in the last 2 weeks. Before that, it hovered close to a 5-month peak.

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Are bulls likely to continue pushing xrp higher every week? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and taught retail trading. He currently acts as an analyst for various asset types, such as Crypto, Stocks, FX.

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