The cryptocurrency market has been suffering from selling pressure, at the moment. The fall of Bitcoin has impacted the price of most alts and the same was observed in the XRP, Monero [XMR], and Dogecoin’s market.

XRP

Source: XRP/USD on TradingView

The fourth-largest crypto in the market swapped its third place with Tether [USDT], as the stablecoin’s market cap increased. The overall performance of the coin has been negative and its YTD was reported to be -4.24%. Due to the extreme selling pressure earlier in May, the price of XRP started to dip. At press time, the price of XRP was hovering close to $0.1824, while the immediate resistance was around $o.2294 and the support remained close to $0.1824.

According to Parabolic SAR, the price direction of the asset was flipping and paved way for bearish momentum.

Monero [XMR]

Source: XMR/USD on TradingView

The privacy-centric coin, Monero had been performing well among alts. It has been noting 26.95% YTD return while on an uptrend. The current price of the digital asset was $61.74, as the immediate resistance was marked at $69.33 and support at $55.44.

According to the Relative Strength Index indicated that the buying and selling pressures had been evening each other out. However, it was slipping close to the oversold zone.

Dogecoin [DOGE] 

Source: DOGE/USD on TradingView

The meme-coin has been among the altcoins that made a space for itself, despite being trolled in the market. At press time, the 31st coin on CoinMarketCap’s list with a market cap of $312.72 million, was returning 11.52% in 2020. The value of a Dogecoin was $0.0025, while the immediate resistance was as close as $0.00275 and support at $0.00224.

According to the Awesome Oscillator indicator, the indicated a reduced market momentum with a bearish trend. Due to the turbulent movement of major cryptos, the altcoin market like Doge has shifted into the bearish territory.

(Excerpt) Read more Here | 2020-05-25 22:11:46
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here