- XRP’s upward momentum faces resistance at $3.10, with strong buying interest.
- Dogecoin sees rising speculation, with open interest growing by 5.86%.
- Liquidation risks are high for both assets, highlighting ongoing market volatility.
The cryptocurrency market is currently seeing notable price movements, with XRP and Dogecoin (DOGE) attracting significant attention from traders. Both have shown signs of an upswing lately, driven by increased whale activity and growing market interest. However, with volatility on the rise and the risk of liquidations looming, investors need to keep a close watch on key support and resistance levels to anticipate potential price swings.
XRP Price Trend and Market Indicators
XRP has made significant strides, currently trading at $3.10, up by 9.68% in the last 24 hours. This surge indicates strong bullish momentum, backed by a steady upward trend on the charts. The price has been consistently climbing, showing strong buying interest from investors.
Key support levels for XRP are at $2.82, where the price found a solid base before taking off, and $2.90, where it paused briefly before continuing its upward move. On the resistance side, the $3.10 level is the immediate hurdle, with the potential for XRP to test $3.20 if the bulls keep pushing.
Data from Coinglass paints a mixed picture. Open interest has grown by 6.47%, hitting $6.44 billion, which suggests increased speculative activity.
Options volume has dipped slightly, but options open interest has risen by 6.79%. This shows heightened interest in XRP options, even though the market remains volatile. Over the past 24 hours, liquidations totaled $11.88 million, with slightly more short liquidations, indicating ongoing market uncertainty.
Related: Market Liquidity Favors XRP, Dogecoin for Long-Term Gains
Dogecoin’s Upward Momentum and Volatility Risks
Dogecoin, currently priced at $0.3344, has also experienced an upward trend, gaining 5.70% in the last 24 hours. This price action, despite a 12.37% drop in trading volume, shows growing investor interest. The market cap has increased by 5.71% to $49.42 billion, highlighting the bullish sentiment around DOGE.
Key support levels for Dogecoin are at $0.3163 and $0.3200, where the price bounced back before continuing its upward climb. On the resistance side, $0.3400 is a significant barrier, with $0.3450 as the next target if buying pressure stays strong. The overall market sentiment for DOGE remains positive, with a clear upward trajectory on the charts.
Related: XRP Jumps Over $1 After 113% Rally, Overtakes Dogecoin to Reclaim Sixth Spot
Additionally, Dogecoin’s derivatives market has shown notable activity. Coinglass data shows that open interest has climbed by 5.86%, reaching $4.05 billion, reflecting increased speculation.
A significant surge in options volume by 330.12% and a 40.28% rise in options open interest further highlight the growing interest in Dogecoin options. Liquidation data shows $9.12 million in 24-hour liquidations, split between longs and shorts, suggesting continued volatility.
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