As cryptocurrencies continue to trade within narrow price bands, investors turn their gaze toward forthcoming ETF decisions. For XRP, maintaining a position above the $2.40 threshold is crucial for determining short-term direction. Meanwhile, Dogecoin establishes a robust support level around $0.19, bolstered by purchases from institutional wallets.
As cryptocurrencies continue to trade within narrow price bands, investors turn their gaze toward forthcoming ETF decisions. For XRP, maintaining a position above the $2.40 threshold is crucial for determining short-term direction. Meanwhile, Dogecoin establishes a robust support level around $0.19, bolstered by purchases from institutional wallets.
XRP Could Break Through at the $2.40 Mark
XRP Could Break Through at the $2.40 Mark
During the initial trading day, XRP remained steady within the $2.30 to $2.50 range. Following a sharp increase on October 18, trading volume soared to 42 million, doubling the average. Yet, liquidity dwindled amidst the transition between Asian and U.S. trading sessions, compressing the price to $2.35. Analysts suggest this volume contraction might signal an early breakout compression.
During the initial trading day, XRP remained steady within the $2.30 to $2.50 range. Following a sharp increase on October 18, trading volume soared to 42 million, doubling the average. Yet, liquidity dwindled amidst the transition between Asian and U.S. trading sessions, compressing the price to $2.35. Analysts suggest this volume contraction might signal an early breakout compression.
In terms of technical outlook, $2.34 stands as support, with $2.39 as a formidable resistance. A volume-backed close above $2.40 could set a target of $2.65. Conversely, the probability of testing the $2.28 level rises in an adverse scenario. Experts note market caution as the SEC nears decisions on six spot XRP ETF applications. Ripple ‘s plan for a $1 billion new capital increase also led investors to lighten positions and move to cash.
In terms of technical outlook, $2.34 stands as support, with $2.39 as a formidable resistance. A volume-backed close above $2.40 could set a target of $2.65. Conversely, the probability of testing the $2.28 level rises in an adverse scenario. Experts note market caution as the SEC nears decisions on six spot XRP ETF applications. Ripple ‘s plan for a $1 billion new capital increase also led investors to lighten positions and move to cash.
On the macroeconomic front, rising trade tensions between the U.S. and China diluted risk appetite, increasing the risk of a $19 billion liquidation. Analysts foresee potential retraction to the $1.55 area triggering a new long-term recovery cycle.
On the macroeconomic front, rising trade tensions between the U.S. and China diluted risk appetite, increasing the risk of a $19 billion liquidation. Analysts foresee potential retraction to the $1.55 area triggering a new long-term recovery cycle.
According to real-time data from CryptoAppsy, XRP was trading at $2.47, a 5.05% increase over the past 24 hours as of the report.
According to real-time data from CryptoAppsy, XRP was trading at $2.47, a 5.05% increase over the past 24 hours as of the report.
Institutional Accumulation Strengthens Dogecoin’s Position
Institutional Accumulation Strengthens Dogecoin’s Position
Dogecoin maintained its upward trajectory by holding above the $0.188 mark after last week’s volatility. As of October 20, the memecoin gained 6.85%, testing the $0.20 level. Following House of Doge’s Nasdaq IPO, increased interest among institutional investors in cryptocurrencies has driven fresh demand for DOGE.
Dogecoin maintained its upward trajectory by holding above the $0.188 mark after last week’s volatility. As of October 20, the memecoin gained 6.85%, testing the $0.20 level. Following House of Doge’s Nasdaq IPO, increased interest among institutional investors in cryptocurrencies has driven fresh demand for DOGE.
Analysts note that closing above $0.192 could push prices into the $0.197-$0.200 range, while dips below $0.188 carry the risk of a minor correction to $0.182 in the short term.
Analysts note that closing above $0.192 could push prices into the $0.197-$0.200 range, while dips below $0.188 carry the risk of a minor correction to $0.182 in the short term.
As funding rates return to normal, short positions are unwinding, prompting momentum indicators to emit upward signals. Continued institutional acquisitions suggest DOGE might establish a more sustainable bottom in the medium term.
As funding rates return to normal, short positions are unwinding, prompting momentum indicators to emit upward signals. Continued institutional acquisitions suggest DOGE might establish a more sustainable bottom in the medium term.
CryptoAppsy’s data shows DOGE trading at $0.2018, reflecting a 6.85% rise in the last 24 hours.
CryptoAppsy’s data shows DOGE trading at $0.2018, reflecting a 6.85% rise in the last 24 hours.
The post XRP Holds Steady as Dogecoin Builds Strong Foundation appeared first on COINTURK NEWS.
The post XRP Holds Steady as Dogecoin Builds Strong Foundation appeared first on COINTURK NEWS.
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