Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) Drop to Support Levels: Whats Next for These Cryptos?
Ripple (XRP), Cardano (ADA), and Dogecoin (DOGE) are down at support, and even lower. Is there a rally in the offing, or can these cryptos sink further?
Cliffedge drop to $1.57 if $XRP doesnt bounce
Source: TradingView
$XRP has the third-biggest market cap after $BTC and $ETH (if you discount $USDT). The price went up hugely in the space of only eleven weeks, from a price of $0.50 to $3.40. However, following the downward trend of Bitcoin and the rest of the altcoin market, the $XRP price has been down to test the horizontal support at $1.96. With the price coming back to this level once again, its either going to hold and bounce, or fall through.
The Stochastic RSI still has further space to fall for the indicators, so $1.96 may not hold. If it doesnt, there is a cliffedge drop down to $1.57. It may be that the slide is arrested there. Further major support levels are in the chart. If a bounce happens instead, the 1.618 Fibonacci is at the nice round price of $3.
$ADA heading down to $0.59
Source: TradingView
The $ADA price lost the $0.77 horizontal level in March, and is currently meandering down to strong support at $0.59. This needs to provide a bounce in order for $ADA to avoid falling to the $0.45 and even $0.31 horizontal support levels.
The Stochastic RSI is coming down to a bottom, and if fortune favours the bulls, the bounce could take place at $0.59. Time will tell.
$DOGE landing on strong $0.16 support
Source: TradingView
The $DOGE price is currently landing on top of the $0.16 support level after a huge downside wave that took the price as low as 70% from the last pivot high made in December 2024. Relatively strong support here would be expected to hold the price from falling further.
The Stochastic RSI is bumping along the bottom, and so, Bitcoin and U.S. stock market allowing, a bounce could happen soon. If it doesnt, things could get a whole lot uglier.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Text source: Crypto Daily™
