XRP and DOGE Struggle to Recover Amid Crypto Market Gains
XRP and DOGE are struggling to recover from their long-term price declines despite recent crypto market gains. According to Santiment Intelligence, XRP's 365-day MVRV is near -11.75%, while DOGE sits at -19.26%. This means that long-term holders of these assets remain underwater.
XRP had a brief rally from $0.70-$0.80 in mid-September to around $1.52, but it has since retreated and found support at $1.45 and $1.40.
The Relative Strength Index (RSI) for XRP has dropped to 51.13 after previously exceeding 70, indicating a cooling down of momentum. The key resistance level remains at $1.52, with a potential move above it towards $1.60. However, if the price falls below $1.45, support levels at $1.40 and $1.30-$1.35 may be triggered.
It's worth noting that Santiment's MVRV data shows XRP and DOGE are still significantly below zero, while BTC, ETH, and LINK have slightly positive readings. This suggests that long-term traders of these assets remain profitable, but those holding XRP and DOGE are still waiting for their investments to turn around.