Skip to main content

Biggest Movers: XRP Jumps to 3-Month High as Crypto Markets Consolidate on Monday 

Xrp moved to a multi-month high on Jan. 23, as market optimism grew regarding a lawsuit between Ripple and the United States Securities and Exchange Commission (SEC). Following comments last week from Ripple CEO Brad Garlinghouse, many have bought the token in anticipation of the lawsuit ending in the coming months. Dogecoin was another notable gainer on Monday.

XRP

XRP, formerly ripple, was one of Monday’s notable gainers, as the token rose to a three-month high in today’s session.

XRP/USD hit an intraday high of $0.431 to start the week, coming off the back of Sunday’s low at $0.3979.

As a result of today’s surge in price, XRP has risen to its strongest point since November 8.

Looking at the chart, the move took place following a breakout of a ceiling at the $0.410 resistance level.

As of writing, XRP is still trading above this point, however earlier gains have eased, with price now at $0.420.

Momentum has eased, with traders seemingly securing gains as the 14-day relative strength index (RSI), which is tracking at 68.64, nears a ceiling at 69.00.

Dogecoin (DOGE)

In addition to XRP, dogecoin (DOGE) started the week stronger, with the meme coin hovering close to a key resistance level.

Following a low of $0.0861 on Sunday, DOGE/USD raced to an intraday peak of $0.09289 earlier today.

This surge saw dogecoin briefly break out of a resistance point at $0.09200, closing in on a six-week high in the process.

As can be seen on the chart, this breakout was not sustained, with the meme coin now trading below $0.09000.

One of the reasons behind the afternoon’s decline is the fact that price strength has encountered a hurdle of its own.

Currently the RSI is tracking at 63.51, which is slightly below a ceiling at the 64.00 mark, and seems to have panicked earlier bulls.

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

Do you expect dogecoin to move beyond this resistance level this week? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/MLOlXQg
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