XRP, VeChain, Dogecoin Price Analysis: 08 September

Following broader market trends, XRP, VeChain and Dogecoin substantially registered losses over the last 24 hours. XRP, after recording a 202.2% decline reversed its weekly gains. VeChain was trading below its weekly low, post plummeting more than 20%. Dogecoin, eyed its monthly-low price mark of $0.209. 

XRP

XRP/USD, TradingView

XRP was trading at $1.08 after it broke below the support line of $1.19. Over the last 24 hours, the altcoin registered a downfall of 20.2%. At the current price level, it reversed its one-week gains. Its immediate support level lay at $0.93. Technical indicators pointed towards a negative price action. 

MACD displayed red bars on the histograms. Awesome Oscillator displayed red signal bars and a green signal bar toward the end, as the latest trading session was in green at press time. Bollinger Bands remained divergent, indicating that prices could experience high volatility over the next trading sessions. 

On the other had, XRP might topple over the $1.19 price ceiling, after which it could attempt to retest the $1.30. If the coin manages to successfully trade over the $1.30 longer than just a few sessions, XRP might revisit its four-month high at $1.39. 

VeChain (VET)

VET/USD, TradingView

VET managed to stay above its immediate support of $0.109 as it was trading at $0.117. Over the past day, the coin dropped by over 20%. VET’s current prices were below its week-low price level.

Upon further downward movement, the altcoin might fall to $0.098 which marked its one-month low price point. 

Relative Strength Index was below the mid-line despite the coin making a revival to stay above the oversold zone. MACD flashed red bars on its histogram, while Awesome Oscillator too noted red signal bars in correspondence. 

A price recovery could push VET to topple over its $0.124 resistance level. Additional price ceilings awaited the altcoin at $0.139 and then at its multi-month high of $0.154. 

Dogecoin (DOGE)

DOGE/USD, TradingView

Dogecoin plunged 16.8% over the last 24 hours and was trading at $0.248. It fell below its support line of $0.270 and with a further downtrend, it could revisit its monthly low of $0.209. Key indicators reflected a downtrend in the market. 

MACD observed red bars on its histograms after a bearish crossover. Relative Strength Index was below the half-line trying to revive and move above the oversold region. The indicator was on a multi-month low.

Chaikin Money Flow remained below the mid-line suggesting a fall in capital inflows. If buying pressure revives, the altcoin could break over the $0.270 resistance mark and then trade near the $0.307 price ceiling. Successfully toppling which it could revisit its multi-month high of $0.343.