XRP, BAT, Dogecoin: Price analysis
For many altcoins, the past month has been fairly stagnant in terms of their price action. Bitcoin continues to inch closer to the lucrative $10,000 mark, however for cryptos like XRP, Basic Attention Token, and Dogecoin, the past few days saw very little gains, with coins moving mostly side-ways after having consolidated their price.
At press time Bitcoin was being traded at $$9578 with a 24-hour trading volume of $13.8 billion. During the course of the past day, Bitcoin’s price increased by a negligible 0.28 percent.
For the world’s third-largest cryptocurrency the past 48-hours have not been very exciting. Since May 28, the coin has seen a 5 percent increase in price and is currently being traded at $0.203. At press time, XRP has registered a market cap of $8.9 billion and has a 24-hour trading volume of $1.6 billion. Currently, XRP’s price is extremely close to testing the support at $0.207. However, if the coin’s fortunes were to take a turn for the worse, XRP may soon find it testing the support at $0.193.
Interestingly, MACD indicator for XRP has undergone a bullish crossover and indicated that the price is likely to sustain the uptrend. Bollinger Bands are expanding slightly implying increased volatility.
In the past few days, XRP swapped places with Tether, falling to the fourth position according to CoinMarketCap. However, a reversal has taken place as XRP finds itself just above USDT despite concerns over its increased supply inflation rate.
Basic Attention Token [BAT]
Basic Attention Token too noted a minor price rise in the past few days. For the majority of the month, BAT’s price seemed to be rather stagnant. While the price endured rare drops, there weren’t many uptrends either. At press time, BAT has a trading value of $0.216 and a market cap of $315 million. If the price rise were to sustain, BAT is likely to test resistance at $0.235. There is also strong support that was recently tested at $0.202 if the price were to fall.
MACD indicator at the moment has undergone a bullish crossover and signals a price rise in the upcoming days. The RSI indicator echoes a similar sentiment as it is now well placed in the overbought zone.
Popular meme turned cryptocurrency – Dogecoin has once again managed to sustain its price without enduring a drop. Over the past 48-hours, Dogecoin managed to increase its price by over 6 percent. Dogecoin was valued at $0.0024 and was quite close to resistance at $0.0026. However, in the event of a downtrend, the coin may find its price stabilizing around the supports at $0.0023 and $0.0019.
EMA ribbon has settled above Dogecoin’s current trading price and is likely to offer a bit of resistance. The MACD indicator interestingly has just undergone a bearish crossover which may fuel a price drop for Dogecoin.