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Crypto analyst Mindfully Lost has revealed price action levels for XRP and Dogecoin. He mentioned the resistance and support levels to keep an eye out for these heavy hitters amid this market downturn.
In a TradingView post, Mindfully Lost stated that the range between $2.20 and $2.24 is the resistance level for the XRP price, noting that there is low volume around this area. Meanwhile, he revealed that the range between $1.92 and $1.95 is the major support level for the altcoin, as there is high volume around this area. The analyst told market participants to expect some consolidation through these levels.
Meanwhile, for Dogecoin, the crypto analyst revealed the range between $0.167 and $0.169 as the major resistance level for the meme coin, noting that there is low volume around that area. Meanwhile, the range between $0.148 and $0.151 is the major support level for DOGE, as there is high volume around that zone.
Besides Mindfully Lost, other crypto analysts such as CasiTrades have highlighted the $2 zone as being important for the XRP price. In a recent X post, CasiTrades remarked that XRP is still struggling at the $2.17 resistance, but lower supports are still valid.
The analyst revealed that there have been multiple failed attempts to break the $2.17 resistance. She added that this level continues to act as a strong ceiling and that if this rejection continues to play out, then the support at $1.90 and $1.55 remains firmly in play, indicating that the altcoin could still drop below $2.
XRP & DOGE Whales Have Been Busy
XRP and Dogecoin whales have been busy amid this market downtrend. In an X post, Martinez revealed that crypto whales have sold over 370 million XRP since the start of the month, presenting a bearish outlook for the altcoin. On the other hand, Dogecoin whales are actively accumulating.
The analyst revealed that these whales have bought over 800 million Dogecoin in the last 48 hours, presenting a bullish outlook for the foremost meme coin. Binance traders are also betting on a bullish reversal for DOGE as Martinez revealed that 72.13% of traders on the crypto exchange with open positions are currently long.
A bullish reversal for XRP and Dogecoin will largely depend on the Bitcoin price action, with the flagship crypto looking likely to drop lower at the moment. Meanwhile, crypto analysts Ali Martinez and Master Kenobi have highlighted how important it is for the Dogecoin price to hold the $0.14 support.
Martinez stated that the foremost meme coin could drop below $0.10 if it loses that support level. Master Kenobi suggested that a drop below the $0.14 support could mark the end of Dogecoin’s bull run.
Featured image from iStock, chart from Tradingview.com
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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.
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