The cryptocurrency market continues to exhibit volatility, with Bitcoin (BTC) experiencing substantial price swings. Despite reaching a high of $58,526 within 24 hours, BTC has since retracted. Positive developments, such as the recent BlackRock ETF application, have not yet led to the anticipated price increases. Conversely, altcoins have also seen notable movements, with XRP and DOGE being particularly noteworthy.
What Are the Predictions for XRP Coin?
XRP, one of the largest altcoins, has witnessed a 5% increase, recovering swiftly compared to other cryptocurrencies. The XRP price surged to $0.49 in the last 24 hours, although sellers remain active at higher levels, capping further gains. To sustain its upward trajectory, maintaining support at $0.46 is crucial. If this support fails, prices could hover between $0.41 and $0.46, with lower support targets at $0.38.
Why Is DOGE Price Stagnant?
Dogecoin (DOGE) and Shiba Inu (SHIB) have not attracted significant interest lately, with new meme coins drawing away volume. Despite this, DOGE remains popular due to its robust community and future plans. Currently, DOGE struggles to surpass the $0.12 level and has reverted to the $0.1 support. Should this support falter, DOGE may seek deeper support at $0.08, while a breakout could push the price to $0.14.
TON Coin Analysis
The Telegram-integrated altcoin TON has made considerable strides, bolstered by recent developments like the layer2 solution. However, market sentiment continues to influence prices. The SMA20 level is at $7.48, with the current price hovering around this mark. If TON solidifies support at $7.72, targets of $8.29 and potential double-digit prices may be achievable. Conversely, if it declines, the next targets are $6.77, $6, and $5.5.
Actionable Insights
- Monitor BTC movements closely, especially around significant news events like ETF applications.
- For XRP, watch the $0.46 support level; its breach could signal further declines.
- DOGE investors should keep an eye on the $0.1 support level for signs of potential downturns.
- Consider TON’s SMA levels when planning short-term trading strategies.
The cryptocurrency market remains unpredictable, with both upward and downward pressures influencing prices. Investors should stay vigilant and perform due diligence when making decisions.