Dogecoin rose to a one-week high on Wednesday, despite cryptocurrency markets mostly moving lower. As of writing, the global crypto market cap is trading nearly 1% lower. Xrp also surged, climbing by over 6% in today’s session.
Dogecoin (DOGE) was able to climb to a one-week high in today’s session, despite markets mostly trending lower.
Following a low of $0.07177 on Tuesday, DOGE/USD raced to an intraday high of $0.07422 earlier in the day.
Today’s rally saw dogecoin climb for a second straight session, which pushed the meme coin to its highest point since May 8.
As a result of the move, the 14-day relative strength index (RSI) collided with a key resistance level of 40.00.
Although the index has moved marginally above this point, and is currently tracking at 40.40, DOGE has lost slight momentum.
The meme coin is now trading at $0.073, which is relatively lower than today’s earlier high.
Another notable gainer on Wednesday was XRP, formerly ripple, which rose by as much as 6% today.
XRP/USD rose to a peak at $0.4596 earlier in the day, which follows on from a low of $0.4202 during yesterday’s session.
This has resulted in the token climbing for a fourth consecutive day, reaching its strongest level since May 7.
Looking at the chart, and similar to DOGE, a collision has occurred on the RSI, with a failure to break a wall at 48.00.
At the time of writing, price strength is at the 47.33 mark, with the price now at $0.4457.
Should this point be broken, there is a good chance that XRP could be heading to a resistance of $0.48350.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect xrp to climb higher this week? Let us know your thoughts in the comments.
Leave a Reply