XRP, ADA, and DOGE Fall Below Key Support Levels Amid Market Volatility
Major cryptocurrencies including XRP, Cardano (ADA), and Dogecoin (DOGE) are experiencing significant volatility, with prices dropping below crucial support levels.
Key points include:
- XRP fell to $1.90, down 14%, breaching its critical support at $2.00, indicating potential further declines.
- The 21-day EMA for XRP is $2.20, acting as resistance, while the RSI is near 30, signaling strong selling pressure.
- ADA is trading at 55 cents, a 12% decrease, below its 50-day SMA, suggesting bearish control. The next support level is around 35 cents.
- DOGE dropped to $0.16, down nearly 15%, breaking through 18 cents support. A death cross on the 4-hour chart indicates a possible downward trend.
- The RSI for DOGE is at 28, indicating oversold conditions, but resistance lies at $0.21 with potential downside to $0.14.
Overall market instability is linked to ongoing global economic tensions, impacting both crypto and equity markets.