Mindfully Lost recently provided cryptocurrency investors of XRP and Dogecoin with key price levels they should keep an eye on during the current market slump, including both resistance and support zones that provide insight into potential movements for these popular coins.
Key Price Levels for XRP and Dogecoin
Mindfully Lost has identified a resistance level for XRP between $2.20 to $2.24 due to low trading activity in this range, while support lies between $1.92 and $1.95 where trading activity appears more robust, suggesting it could provide some stabilization around these figures.
Analysts of Dogecoin note that its resistance level lies between $0.167 and $0.169 with low trading volume observed. Support levels range between $0.148 and $0.151 indicating higher trading activity that may offer some stability to its value.
CasiTrades, another cryptocurrency analyst, has also highlighted the significance of $2 as an important threshold for XRP, noting its struggle to overcome resistance levels of $2.17 yet still holding that lower supports are viable solutions for price stability.
These analyses indicate that although some attempts have been made to breach specific price ceilings, foundational support levels appear to still be holding strong, preventing further declines of XRP to below $2 per coin.
Whale Activity in XRP and Dogecoin Markets
While markets remain in a downward spiral, large-scale holders (known as whales) of both XRP and Dogecoin have shown notable activity. According to observations made since January’s beginning, whales of XRP have offloaded over 370 million units since then indicating bearish sentiment in the market.
On the flipside, however, Dogecoin whales appear to be on an accumulation spree, purchasing over 800 million coins over just two days – indicative of positive trading sentiment towards Dogecoin on Binance – offering hope for its prospects.
Overall, XRP and Dogecoin appear to largely follow wider market trends, particularly those led by Bitcoin. Analysts advise investors of the critical $0.14 support level for Dogecoin – falling below this threshold could drastically alter its bullish trajectory.
