Coin’s price could potentially drop to $0.41 or rise to $0.73, with a price break imminent.
- Investors in ADA Coin may see a drop to $0.2 in the event of a BTC decline.
- DOGE could fall to a support level of $0.055 if it does not receive backing from Elon Musk.
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This article provides a detailed analysis of the potential price movements of three popular cryptocurrencies: XRP, ADA, and DOGE. It explores the various factors that could influence their value in the near future.
Analysis of Ripple (XRP) Coin
The price of XRP Coin has recently been pulled below the $0.50 mark by bearish forces. This area had previously acted as a significant barrier during bullish trends. Although the price has dropped below this level, the bears have been unable to maintain lower levels, as indicated by the long tail on the day’s candlestick. The bears have continued their pressure, preventing the bulls from initiating a strong recovery from the $0.50 level, thereby increasing the likelihood of a downward break.
If the decline in XRP Coin’s price gains momentum, investors could witness a collapse to $0.41 in the coming days. Contrary to this assumption, if the price turns upwards from the current level and rises above the 20-day EMA ($0.53), it could climb to $0.56 and $0.60. The subsequent targets would then be $0.65 and $0.73.
Cardano (ADA) Coin Chart Analysis
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Cardano has been consolidating between $0.24 and $0.28 for the past few days, indicating indecision between the bulls and the bears. The situation here mirrors that of the rest of the altcoins. The declining 20-day EMA ($0.26) and the RSI below 38 suggest a slight advantage for the bears. If the price turns down from the 20-day EMA, it could fall to $0.24 and $0.22, with the last dip at $0.2.
The bulls need to close above $0.26 to invalidate the bearish scenario. Potential upward targets are located at $0.28 and $0.32.
Dogecoin (DOGE) Analysis
Buyers attempted to lift Dogecoin above the 20-day EMA ($0.07) on September 2, but the bears held their ground. This has resulted in the DOGE/USDT pair being trapped between the 20-day EMA and the significant support at $0.06. The downward sloping 20-day EMA and the RSI in the negative territory give the sellers an edge. If the price falls below $0.06, a test of $0.055 could be on the cards.
Claims about DOGE details in Elon Musk’s upcoming biography or rumors about a DOGE moon mission in November could potentially revive demand. However, this scenario does not currently seem very likely. Nonetheless, DOGE is an altcoin known for its surprises, and a high volatility uptrend would not be surprising. Musk has previously made moves that have lifted the price during such downturns.
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While the future of these cryptocurrencies remains uncertain, this analysis provides some insight into potential price movements. Investors should keep a close eye on these coins and the factors that could influence their value. As always, it’s crucial to do your own research and make informed decisions when investing in cryptocurrencies.