As the crypto market contemplates a jump to the recovery phase, XRP records a golden cross after its 20 Simple Moving Average crossed the 50-200 Simple Moving Average. With that, the remittance coins displayed mixed signals in the short term. Meanwhile, Dogecoin tries to surge high with magnifying buying momentum. Terra continued its upswings, touching another ATH on December 24.
Ripple (XRP) oscillated within a rising wedge after breaking out of an ascending triangle. The cross-border token witnessed a 21.4% ROI at the moment and poked a 3-week peak on December 23.
Nevertheless, the 20SMA crossed the 50SMA and 200SMA, showing massive trend reversals for XRP bulls. However, the bearish divergence and massive resistance at $1.01 had Ripple crashing to $0.88. The alt authorizes 50SMA as its nearest testing support. That is after bouncing back from the level.
While writing this content, XRP traded at $0.9175. The RIS indicator hovered around the 46-level following a sharp drop, but the indicator maintained its power. Recently, the recovery volumes appeared lower than the pullback volumes. Meanwhile, the SMI indicated grey dots, hinting at the massive volatility phase.
Terra’s LUNA saw a colossal upturn following a downward channel breakout during December 14 sessions. After that, LUNA climbed northwards within a parallel channel and appeared not to pause the upswings at the moment. It witnessed a more than 96.89% ROI from December 14 low until the ATH on December 24.
The 20SMA provided reliable support during LUNA’s uptrend. The past 48 hours had bulls testing the $100 mark three times, following a 1-sided buying momentum. While publishing this blog, Terra hovered at 4100.31. The RSI sat at 63-level and displayed no slowdown signals at the moment. Moreover, the OBV implied buying strength. Nevertheless, the VO marked lower highs, suggesting short-term setback possibilities.
Dogecoin witnessed some retracement within the last 24hrs after encountering strong resistance near $0.1919. The meme coin tested this mark five times within the past 48hrs after succumbing to the sell-out in the market, blipping.
Meanwhile, bulls received motivation after DOGE recorded a 16.6% 5-day gain from December 20 low. That had the crypto forming an upward channel on the four-hour chart. The latest blip secured support near 20SMA. However, the coin has neared the $0.1919 level (3-week resistance), eyeing a retest. The OBV and trading volumes witnessed surges, suggesting a lucrative trend reversal.
While publishing this blog, Dogecoin traded near $0.1887. The RSI dropped from the overbought area but remained beyond the 59-level, confirming massive bullishness. The SMI depicts low volatility with black dots.