XRP, Dogecoin, Monero Price Analysis For Thursday, December 17, 2020
While Bitcoin hitting its all-time high record is something that has overtaken the whole crypto market, other altcoins have made and are still making moves in the crypto market. With Bitcoin possessing a massive correlation with other altcoins in the digital asset, we will be taking a look into how they are faring after this recent Bitcoin achievement.
A look at the on-chain trend of XRP will show that the digital asset has had to endure a huge amount of volatility that spanned across weeks from the end of November to early this month. The volatility was responsible for the price of the digital asset touching a low of $0.3226 before finally hitting a high of $0.6365.
Even though the price is presently undergoing correction after it dropped significantly, XRP has been able to use this momentum to break above the $0.5339 upward resistance figure. With the price successfully break-in above the resistance figure, it has stagnated and currently trades around the $0.5633 price mark.
The Bollinger bands of XRP showed that the volatility worked for the good of the digital asset as it made a massive price surge. The band has finally diverged after trend moved to a bullish one today.
It is safe to say that the ripple effect of Bitcoins move was felt in the entire market after privacy-focused digital asset; Monero also witnessed some level of price jumps. The coin was able to sustain its bullish momentum as it crossed the resistance figure at $138 on its way to the top.
With that, the privacy coin is currently trading at $156. This current price is the coins highest peak this year, and with the momentum building up, it is still primed to make further surges. With the green bars growing taller and the oscillators moving in a positive direction, the sky is the limit for the digital asset.
One major thing that has boosted the growth of Dogecoin over the years is its meme coin status. Despite seemingly high market volatility, as shown in its on-chain metrics, investors are still flocking to have a piece of the digital asset. With the volatility currently affecting the market, it has been moving around the $00.30 and $0.0039 price mark. The parabolic has also indicated that the movement of the coin would be a bearish movement which will see the coin drop from its recent trading position of $0.0046