$65,340.80
+2.06%
$3,160.78
+4.96%
$80.03
+3.28%
$30.39
+7.48%
$122.85
+6.4%
$0.00
-2.63%
$26.98
+5.79%
$0.16
+6.97%
$22.01
+6.23%
$0.00
+7.75%

Cryptocurrencies Price Prediction: Ripple, Bitcoin & Dogecoin – American Wrap 29 December


XRP price has experienced some major selling over the past six trading days. Sellers have promptly sold off Ripple upon hitting the $1 level, pushing XRP lower by as much as 20%. However, the bearish price action has developed into a powerful buying opportunity.

Bitcoin price takes a step back as Christmas rally stalls

Bitcoin (BTC) was on the back foot yesterday as cryptocurrencies came under pressure from profit-taking as the Christmas rally ended. BTC bulls refrained from making new highs and had to look below $50,000 for some support. As the price action opened below the 200-day Simple Moving Average (SMA), expect bears to seize the opportunity for another leg lower towards $44,088.

Dogecoin (DOGE) got caught on the wrong side of the fence yesterday with a nosedive correction of 10% that tested the red descending trend line from August 16. With that test, the bulls jumped in to use the bounce-off as an entry point which sees a higher opening today. If bulls play this right and more investors already join the price action, expect a possible bullish rally towards the 55-day Simple Moving Average (SMA), holding 20% of gains.

 

 



Read More:Cryptocurrencies Price Prediction: Ripple, Bitcoin & Dogecoin – American Wrap 29 December