In a noteworthy development that has seized the interest of cryptocurrency enthusiasts, Dogecoin (DOGE) and XRP outpace all other cryptocurrencies today, marking significant increases within the past 24 hours.
This development unfolds in the midst of heightened volatility in the cryptocurrency market, given the impending US elections. Cryptocurrency traders anticipate an imminent surge in BTC price volatility, as the US presidential election scheduled for November 5, could potentially instigate price fluctuations for the asset. This volatility could match the dramatic shifts recorded earlier in August.
Within the current scenario, Dogecoin (DOGE), a meme cryptocurrency, is gaining attention due to its significant price rise over the past day, the largest amongst the top 100 crypto assets on the market. It boasts a daily increase of nearly 6%. As of publication, Dogecoin’s price stands at $0.1571, marking a 5.9% increase within the past 24 hours.
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Source: TradingView
Presently, Dogecoin (DOGE) has a trading volume of $2,742,603,588 over the past 24 hours, indicating a 48.00% increase from the previous day and signaling a recent upsurge in market activity.
The largest memecoin on the market has been witnessing substantial price increases, showing a 43.8% appreciation within the last 30 days.
Similarly, XRP, one of the oldest altcoins on the market, is also exhibiting notable growth within the past 24 hours, registering gains of nearly 3% in the face of the current indifferent market scenario.
As of publication, the price of XRP is trading at $0.5098, up 2.9% over the past 24 hours. Currently, XRP (XRP) has a trading volume of $1,057,355,048 over the past 24 hours, indicating a 47.40% increase from the previous day and signaling a recent upsurge in market activity.
Dogecoin (DOGE) Could Surge by 27% Under Certain Conditions; Analysis
A distinguished cryptocurrency analyst has pointed out a significant resistance for an impressive rise in Dogecoin (DOGE) price. Cryptocurrency trading expert Ali Martinez highlighted the memecoin’s recent price action, proposing a potential rally towards $0.209.
In a technical analysis shared on Nov. 2, Martinez underscored the significance of Dogecoin surpassing the $0.169 resistance. According to the analysis, this is crucial for the second-largest cryptocurrency to validate its trajectory towards a price of $0.209.
Disclaimer:
The views and opinions expressed by the author, or any individuals mentioned in this article, are purely informational and do not constitute financial, investment, or other types of advice. Investing or trading in cryptocurrencies comes with a risk of financial loss.
Tags: Cryptos Dogecoin (DOGE) XRP