Ripple (XRP), Dogecoin (DOGE) Price Analysis – January 9
The crypto market fear & green index dropped to ten points on January 8 as BTC hit us almost 15-weel low. With such developments, alts such as Dogecoin and XRP displayed a bearish trend. However, the RSI bullish divergence had the altcoins depicting surged buying momentum. Meanwhile, the assets require decisive closes beyond the respective immediate resistance plus magnified volumes to confirm a broad sell-off end.
Ripple (XRP)
XRP has oscillated inside a downward channel since hitting a 3-week peak on December 23. The trend revealed 21.37% retracement and secured footing around 50% FIB level on January 1. Meanwhile, the breakout could not maintain beyond the $0.8431 mark though the alt reversed.
After standing around the Point of Control for almost 48 hours, Ripple matched the broad market crash and witnessed a declining wedge on the four-hour chart. Another 11% drop in January had the remittance coin losing the 61.8 FIB support. Meanwhile, bulls ensure the $0.7297 5-month support, attempting to reclaim the mentioned golden level.
While writing this content, XRP traded at $0.752. The Relative Strength Index swayed from 19 to levels past 40. Nevertheless, the indicator and Ripple price recorded a bullish divergence within the last few days.
Dogecoin flipped the support at $0.1623 to resistance following a 3-week range bound. The meme coin hovered within a side-channel for almost one week until the 14.94% breakdown, poking a 5-week low on January 8.
Dogecoin took advantage of the nearly 9-month support at $0.1456 to reverse and test its immediate resistance. The level also matched the 20-Simple Moving Average. The last two green candlesticks witnessed s substantial increase in volumes, confirming a massive bullish more. The OBV also noted a sharp increase.
At this publication, the original meme coin wavered beneath the 20-, 50-, and 200 Simple Moving Average at $0.1518. The Relative Strength Index witnessed a significant revival but could not cross 44-level. Meanwhile, DOGE price and RSI noted a bullish divergence.
For now, bears seem to dominate the entire crypto marketplace. For instance, the leading cryptocurrency, Bitcoin, battles with lows around $41,700. A decisive upside move by BTC will trigger bullishness in the crypto industry.
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