Key Takeaways
- Uptober crypto fever begins as DOGE and XRP are expected to show bullish price action.
- Current market sentiment remains bullish for crypto assets, as prices look to build on the hype.
- Despite lagging behind the price of BTC, expectations are for $1 and $5, respectively, for DOGE and XRP.
The cryptocurrency market has been buzzing with excitement over the last few hours, following the rally of BTC from a region of $108,800 to $118,000. The market looks set for a bullish month of October, with the current market sentiment reflected in DOGE, while XRP still struggles to catch up.
With the price of Bitcoin attempting a rally to new all-time highs, if the price breaks key resistance of $118,000 in the coming days, this could allow the likes of DOGE and XRP to rally to the upside, potentially reaching $130,000 and $150,000.
However, retailers and traders would be looking at trading altcoins and memecoins, which could give them a better return on investment, as the prices of some crypto memecoins and altcoins are setting up for a potential rally.
Dogecoin (DOGE) Potential as Price Aim for $1
Source – DOGE Bullish Chart from TradingView
Despite failing to protect its daily timeframe price chart following a strong bullish price rally towards $0.3, its price broke towards the key zone of $0.23 as the price needed to protect this zone and avoid a potential price decline to the downside.
With the price rebounding strongly above $0.23 towards $0.245, the memecoin has a strong potential to rally toward its key resistance of $0.3. A breakout above this zone could lead the price to trade higher, potentially reaching $0.50 and $0.70.
Crypto experts and analysts speculate that the price of DOGE hitting a high of $1 in the current bull market is inevitable, following a strong rally in the previous one, as the price traded as high as $0.73.
Despite much attention being focused on the memecoin, XRP is another altcoin trading under the radar that could outperform many altcoins, despite struggling in the last few months.
XRP Price Struggle as CTO Resigns
Currently making the rounds is the news of Ripple CTO, David Schwartz, resigning at the end of the year, following a 13-year tenure with the Ripple team, building its technology and ecosystem, and contributing to adoption in the crypto space.
While this news comes as a shock, the price of XRP hasn’t performed negatively to the downside, as its price has remained within a price range with an expected breakout to the upside of $3.2.
A breakout could lead to a strong bullish price rally once more, as XRP hasn’t performed well in months.
Traders and investors would be paying attention to both DOGE and XRP in the coming weeks before making their investment decisions.
FAQs
How much is DOGE right now?
The price currently trades above $0.245, following a recent market rebound to the upside.
Should I buy or sell Dogecoin?
Following a strong market rebound, the price is a bullish short-term action.
Is XRP bullish or bearish?
The price of XRP remains within a range, as it needs to break above $3.2 to the upside to initiate a clear rally.
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