Skip to main content

Biggest Movers: DOGE, XRP Rebound Following Recent Declines

Following two days of declines, dogecoin rebounded earlier in today’s session, moving away from a key level of support. The meme coin, which has been hovering close to a one-month low, surged, as bulls seemingly bought the dip. The token formerly known as ripple (xrp) was also higher.

Dogecoin (DOGE)

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

So far this week, DOGE/USD has been trading around a floor of $0.0580, however prices rallied beyond that point 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.

Looking at the chart, this ceiling is the $0.0620 mark, which was last hit ten days ago, on October 10.

Currently, the 14-day relative strength index (RSI), has reached a resistance level of its own, and is currently tracking at this point of 47.50

Should dogecoin bulls intend to take prices higher, we would first need to see a breakout of this current hurdle.

XRP

XRP, formerly ripple, was another big mover on Thursday, as price bounced from its own support point.

Following a low of $0.4501 on Wednesday, XRP/USD raced to an intraday peak of $0.4638 earlier today.

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

Recent declines have also led to the 10-day (red) moving average (MA) dropping below its 25-day (blue) counterpart.

Although prices have since rebounded today, this shift in moving averages could be a signal for greater drops in price to come.

Momentum in XRP has shifted in the last two weeks, as it was hovering close to a five-month high previously.

Register your email here to get weekly price analysis updates sent to your inbox:

Could bulls continue to send xrp higher this week? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/cSVCHyA
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more