Are XRP and DOGE Preparing for 25% Price Moves?
TL:DR
- The popular crypto analyst Ali Martinez outlined possible positive scenarios for DOGE and XRP, which could send both assets up by around 25%.
- However, the landscape around Ripples cross-border token is somewhat worrisome, according to another indicator.
#Dogecoin $DOGE could be on the verge of a 25% move as it nears a breakout from this symmetrical triangle! pic.twitter.com/Vf5OgIgRBU
Ali (@ali_charts) February 20, 2025
In terms of the worlds largest meme coin, Martinez noted that it nears a breakout from a symmetrical triangle. The asset has been stuck within it ever since the early February crash when the entire market bled out in hours. DOGEs price tumbled from over $0.3 to a multi-month low of $0.22.
In the following two and a half weeks, Dogecoin failed to break above it as it was stopped at the upper boundary at $0.28, and then the bulls defended the lower one at $0.244.
With its price currently sitting at around $0.255, a 25% move to the upside will send it to over $0.3.
The landscape around XPR is similar, but the triangle is slightly different its an ascending one. In case the third-largest cryptocurrency manages to break above it, its price could experience a 26% surge, Martinez said, which would mean a price tag of roughly $3.4.
Data from CoinGecko shows that this is the current all-time high, which XRP tested in early January but failed to breach. Ripples token certainly has some bullish sentiment going its way, mostly related to ETFs. Brazil is set to launch its first spot one tracking the assets performance, while several US-based applications have been officially recognized by the SEC.
Nevertheless, Martinez also warned that another technical indicator suggests that XRP could be headed for a correction. The TD Sequential Indicator, which shows the markets exhaustion in either direction, flashed a sell signal on the 3-hour chart after the assets recent rally.
$XRP could be gearing up for a pullback, as the TD Sequential indicator flashes a sell signal on the 3-hour chart after the recent 11% rebound! pic.twitter.com/k8SetFIQ8F
Ali (@ali_charts) February 20, 2025
The post Are XRP and DOGE Preparing for 25% Price Moves? appeared first on CryptoPotato.
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Text source: CryptoPotato
