XRP price closed last week with the largest weekly return since the beginning of April, unlocking it from the resistance associated with the strategically important 200-day simple moving average (SMA) and propelling Ripple not only through the psychologically important $1.00 but also through the 38.2% and 50% Fibonacci retracement levels. The buying stampede has created credible layers of support that should withstand any profit-taking resulting from the burst higher. Furthermore, it has placed XRP price in a constructive position to climb higher moving forward.
Mark Cuban, billionaire investor, states that Dogecoin has a strong use case as a payment method. Analysts convinced by the surge in DOGE’s on-chain activity and exchange trading volume, expect the memecoin to rally to $0.40. New investors have a bullish outlook, increasing their share of DOGE supply from 9% to 25% in over a year. Analysts predict that Dogecoin, among other altcoins, is expected to lead the ongoing cryptocurrency rally.
A brief technical and on-chain analysis on Bitcoin price. Here, FXStreet’s analysts evaluate where BTC could be heading next as it looks primed to retrace.