Dogecoin was in the red again on Friday after Twitter finally removed the doge icon as its logo. The meme coin rose to a four-month high earlier in the week after the social media giant unexpectedly added a cartoon image of a doge to its website. Overall, the crypto markets were mostly down, but xrp was a notable exception.
Dogecoin (DOGE)
Dogecoin (DOGE) fell for the fourth consecutive session on Friday as Twitter finally removed the doge icon as its logo.
DOGE/USD surged to a high of $0.1048 on Tuesday, but as sentiment changed, the meme coin fell to a low of $0.08185 earlier today.
Bears appear to be pushing the doji toward a long-term floor of $0.0780, with prices down nearly 9% today.
The chart shows that this price drop coincides with the 14-day Relative Strength Index (RSI) falling below support at 55.00.
Price strength is now tracking at the 52.85 mark, with a lower limit of 50.00 as a possible target for sellers.
Despite the recent downtrend, the 10-day (red) moving average continues to trend higher.
Despite the cryptocurrency’s market cap trading nearly down on Friday,. XRP, previously Ripple, was a notable exception.
After the previous day’s low of $0.4968,. XRP/USD moved to a peak of $0.5129 earlier today.
As a result of this move, bulls pushed the token away from its recent support point at $0.4950.
This is due to the RSI also moving away from the bottom at 59.00. It is currently at 61.17.
If this momentum continues through the Easter weekend, the next ceiling will be at the 65.00 mark.
If this point is reached,is likely; XRPwill trade above $0.5200.
Sign up for email here to receive weekly price analysis updates:
Image Credit:: Shutterstock, Pixabay, Wiki Commons.
