Cosmos, Dogecoin, XRP Price Analysis: 20 September

Monday 21 September 2020, 2:08 AM AEST - 1 month ago

XRP, at the time of writing, was showing no signs of price movement in either direction in the near-term. Similarly, Cosmos was likely to be neutral or bearish, until overall market conditions took a turn towards the bullish side. Dogecoin, the popular meme-coin, was also stagnant across its price charts.


PA-4-XRPUSD.pngSource: XRP/USD on TradingView

XRP is the fourth-largest cryptocurrency in the market with a market capitalization of $11.27 billion. It was trading at $0.25, at press time, with the crypto-assets level of resistance laying at $0.267, while the support was at $0.23.

The MACD highlighted a bearish crossover and gave a sell signal. However, the Signal line and the MACD line have been moving quite close to each other for the past few days, indicating a lack of strength in the market. The Awesome Oscillator concurred, as its histogram gave a sense of weak bullishness.

A strong move above or below $0.25 could set the stage for XRPs next move.

In related news, a report compared the function of XRP in 2017 to USDT in 2020 and found that stablecoins like Tether have been adding $100 million in market cap each day for the past several months. Since its launch, XRP has aimed to be the future of digital payments in cryptocurrency, but it appears that Tether has surpassed it in both adoption and market capitalization.

Cosmos [ATOM]

PA-4-ATOMUSD-1.pngSource: ATOM/USD on ...

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