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Are XRP and DOGE Preparing for 25% Price Moves?

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TL:DR

  • The popular crypto analyst Ali Martinez outlined possible positive scenarios for DOGE and XRP, which could send both assets up by around 25%.
  • However, the landscape around Ripple’s cross-border token is somewhat worrisome, according to another indicator.

In terms of the world’s largest meme coin, Martinez noted that it nears a breakout from a symmetrical triangle. The asset has been stuck within it ever since the early February crash when the entire market bled out in hours. DOGE’s price tumbled from over $0.3 to a multi-month low of $0.22.

In the following two and a half weeks, Dogecoin failed to break above it as it was stopped at the upper boundary at $0.28, and then the bulls defended the lower one at $0.244.

With its price currently sitting at around $0.255, a 25% move to the upside will send it to over $0.3.

The landscape around XPR is similar, but the triangle is slightly different – it’s an ascending one. In case the third-largest cryptocurrency manages to break above it, its price could experience a 26% surge, Martinez dit, which would mean a price tag of roughly $3.4.

Data from CoinGecko shows that this is the current all-time high, which XRP tested in early January but failed to breach. Ripple’s token certainly has some bullish sentiment going its way, mostly related to ETFs. Brazil is set to launch its first spot one tracking the asset’s performance, while several US-based applications have been officially recognized by the SEC.

Nevertheless, Martinez also warned that another technical indicator suggests that XRP could be headed for a correction. The TD Sequential Indicator, which shows the market’s exhaustion in either direction, flashed a sell signal on the 3-hour chart after the asset’s recent rally.

Le poste Are XRP and DOGE Preparing for 25% Price Moves? est apparu en premier sur CryptoPatate.

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