Dogecoin (DOGE)
Dogecoin saw a 5% surge at the start of the week following the news of Twitter’s rebranding to X.
- DOGE/USD reached an intraday high of $0.07718.
- A breakout occurred at the $0.0760 level, pushing the meme coin to its highest point since May 6.
- The relative strength index (RSI) broke through its ceiling at 63.00 and currently stands at 65.46.
- Traders will aim for the $0.08000 level.
XRP
XRP experienced a drop to a ten-day low as market sentiment turned bearish.
- XRP/USD started the week at a low of $0.6901 after reaching a high of $0.7506 on Sunday.
- This is the lowest level XRP has traded at since June 13.
- The RSI fell below 57.00 and is currently at 56.72.
- If the index continues to drop, bears may target $0.5600.
Hot Take
Dogecoin’s surge following Twitter’s rebranding shows the influence of social media on cryptocurrency markets. However, XRP’s decline indicates a shift in sentiment towards bearishness. It remains to be seen how these trends will develop in the coming days.
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