By Eliman Dambell
Dogecoin was trading near its highest point since late September on Wednesday, as prices rose for a second straight day. The rally comes as the meme coin continues to trade above a key resistance level, following a breakout on Tuesday. Xrp was also in the green today, trading close to a one-week high.
Dogecoin (DOGE) was one of today’s notable movers, as the meme coin hit its highest level in over a week.
Following a low of $0.0606 on Tuesday, DOGE/USD rallied to an intraday high of $0.06646 earlier today.
The move saw the token continue to trade above a resistance level of $0.0640, hitting its strongest point since September 24.
Looking at the chart, it can be seen that prices have declined, which came as the 14-day relative strength index (RSI) hit a resistance point of 60.00.
This collision has since prompted traders to exit previous positions, securing earlier profits in the process.
The memecoin continues to trade above its $0.0640 level, with the 10-day (red) moving average also trending upwards, which could be a sign of further gains to come.
Another relatively big mover on hump day was XRP, which also rose close to a one-week high in today’s session.
XRP/USD hit a high of $0.4938 earlier, which came as prices of the token rose for a third consecutive day.
This rise in price saw XRP hit its highest point since September 30, and it moved closer to a key resistance level in the process.
Looking at the chart, the token edged closer to this $0.510 mark, which hasn’t been hit since September 25.
As of writing, earlier gains have somewhat faded, which comes as the RSI looks set to hit a ceiling of 62.00.
Should the index move past this point, then there is a strong possibility that XRP will continue to climb higher.
Register your email here to get weekly price analysis updates sent to your inbox:
Source: Bitcoin News