{"id":32607,"date":"2022-10-20T17:11:25","date_gmt":"2022-10-20T17:11:25","guid":{"rendered":"http:\/\/egrowonline.com\/?p=32607"},"modified":"2022-10-20T17:11:25","modified_gmt":"2022-10-20T17:11:25","slug":"biggest-movers-doge-xrp-rebound-following-recent-declines-market-updates-bitcoin-news-bitcoin-news","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=32607","title":{"rendered":"Biggest Movers: DOGE, XRP Rebound Following Recent Declines \u2013 Market Updates Bitcoin News – Bitcoin News"},"content":{"rendered":"


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Following two days of declines, dogecoin rebounded earlier in today\u2019s 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.<\/strong><\/p>\n

Dogecoin (DOGE)<\/h2>\n

Dogecoin (DOGE) was a notable gainer in today\u2019s session, as the meme coin rebounded following recent losses.<\/p>\n

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

The world\u2019s tenth largest cryptocurrency rose to a high of $0.06068 earlier today, as bulls seemingly have their sights set on a resistance point.<\/p>\n

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DOGE\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Looking at the chart, this ceiling is the $0.0620 mark, which was last hit ten days ago, on October 10.<\/p>\n

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<\/p>\n

Should dogecoin bulls intend to take prices higher, we would first need to see a breakout of this current hurdle.<\/p>\n

XRP<\/a>, formerly ripple, was another big mover on Thursday, as price bounced from its own support point.<\/p>\n

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

Today\u2019s move sees XRP<\/a> snap a two-day losing streak, bouncing from a support of $0.4500 in the process.<\/p>\n

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XRP<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Recent declines have also led to the 10-day (red) moving average (MA) dropping below its 25-day (blue) counterpart.<\/p>\n

Although prices have since rebounded today, this shift in moving averages could be a signal for greater drops in price to come.<\/p>\n

Momentum in XRP<\/a> has shifted in the last two weeks, as it was hovering close to a five-month high previously.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Could bulls continue to send xrp higher this week? Let us know your thoughts in the comments.<\/strong><\/em><\/p>\n

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Eliman Dambell<\/h6>\n

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.



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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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