Ripple (XRP) and Dogecoin (DOGE) eyeing upswings: analyst

8:56 am
November 24, 2023

**Ripple (XRP) and Dogecoin (DOGE) Upward Trends Foreseen by Analyst**

Cryptocurrency markets are showing signs of potential upward momentum for Ripple’s XRP and Dogecoin (DOGE), according to a recent analysis. Ripple’s XRP appears to be breaking away from a descending channel, indicating the possibility of further upside momentum, while Dogecoin’s price is poised for a surge amid a notable increase in DOGE transactions. Despite trading lower earlier in the week due to reactions to news surrounding former Binance CEO Changpeng Zhao stepping down, both coins are currently showing signs of a potential upswing.

As of the time of writing, Ripple’s XRP, the fifth-largest cryptocurrency by market capitalization, is trading near $0.61, and Dogecoin (DOGE) has surged to highs of $0.075. Analysts believe that the increased on-chain activity for DOGE could lead to further positive price movements.

According to crypto analyst Ali, there are positive indicators for both XRP and DOGE. Ali predicts that a breakout from a descending parallel channel could see XRP/USD pushing to the $0.65 – $0.66 region. Additionally, a surge in large transactions for DOGE is seen as a sign of potential institutional interest and a potential price spike.

The market performance of both XRP and DOGE is closely monitored, with XRP currently experiencing intraday gains of 3.5% and a 24-hour trading volume of over $1.1 billion. Dogecoin, on the other hand, has seen a 24-hour trading volume of nearly $452 million, with gains over the past month reducing yearly losses to just 5.5%.

While positive market movements could lead to DOGE/USD breaking above $0.1 going into next year, there are still significant obstacles for DOGE bulls to overcome in order to reclaim the all-time high of $0.73, reached in May 2021.

Analysts and market observers are closely monitoring these developments to see how XRP and DOGE will perform in the near future.

**FAQ**

**1. What is the current price of Ripple’s XRP and Dogecoin (DOGE)?**
As of the time of writing, Ripple’s XRP is trading near $0.61, and Dogecoin (DOGE) has surged to highs of $0.075.

**2. What factors are contributing to the potential upswing in XRP and DOGE prices?**
Increased on-chain activity for DOGE is seen as a positive indicator for potential price spikes. Additionally, a breakout from a descending parallel channel is suggested to lead XRP/USD to the $0.65 – $0.66 region.

**3. What are the current market performances of XRP and DOGE?**
XRP is experiencing intraday gains of 3.5% with a 24-hour trading volume of over $1.1 billion. Similarly, Dogecoin has seen a 24-hour trading volume of nearly $452 million, with gains over the past month reducing yearly losses to just 5.5%.


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