Crypto market: price dynamics for Ripple (XRP), Litecoin (LTC) and Dogecoin (DOGE)

How do Ripple (XRP), Litecoin (LTC) and Dogecoin (DOGE) cryptocurrency prices behave in today's market?
Below is an in-depth analysis of the aforementioned coins.

Price analysis of Ripple (XRP), Litecoin (LTC) and Dogecoin (DOGE)

Recall that Ripple (XRP), is a real-time money transfer system, a network for currency exchange and for sending remittances, created in 2012 by Ripple Labs, at the time OpenCoin.
Litecoin (LTC), on the other hand, is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license.
Finally, Dogecoin is a cryptocurrency whose logo is graphically based on an Internet meme depicting a shiba dog.

Focus on Ripple: a comparison with Litecoin and Dogecoin prices

As we know, the price of the cryptocurrency Ripple (XRP) was deflected by a key resistance level a few weeks ago, highlighting the currency's indecisiveness.
However, even in this state, the bulls still have hope that the rally is not over.
In any case, the price of XRP failed to break the $0.55 resistance level and has been falling ever since. Moreover, the 50-day moving average is currently providing support near the $0.46 level, followed by the 200-day moving average at $0.41.
Thus, this combination of support elements makes the $0.40 level very important, and a break below it would likely lead to a rapid decline to the $0.3 level in the coming weeks.
On the other hand, a rebound from this area would open the way for a new test of the $0.5 resistance zone with a higher probability of a bullish breakout.
With all of this in mind, we see the SEC's case against Ripple moving forward these days. Specifically, on Wednesday, the U.S. District Court for the Central District of California held a class action hearing against Ripple Labs, known as Zakinov v. Ripple.
At the hearing, oral arguments reportedly focused on the certification of the group of XRP holders who filed the lawsuit against Ripple.
In addition, in a recent tweet, Deaton complained that the judge did not allow amicus ("friend of the court") testimony during oral arguments, while acknowledging that this was established court policy and not a decision made specifically for this hearing.

Litecoin (LTC) price in a clear downtrend

If we look at the technical analysis chart of the 1-day LTC price, we see a clear downtrend.
Specifically, prices have been falling steadily over the past few days, and there seems to be no end in sight to the current downtrend at $88.87.

In addition, the price has fallen 3.25% in the last 24 hours and is currently trading in a sideways trend. However, experts say that the market will start to rise once this range is exceeded.
Therefore, investors should look for a break above the $92.57 resistance level or a break below the $85.43 support level to enter new positions. However, the MACD indicator is also showing bearish momentum, indicating further downside potential in the short term.
However, if we look at the RSI, it is currently at 47.56, indicating that the market is neither overbought nor oversold.
Finally, the Bollinger Band is also narrowing, indicating a possible future market breakout, with the upper and lower bands being close to each other, indicating that the market is in a consolidation phase.

Bitcoin could pave the way for the Dogecoin price

Over the past few hours, the DOGE price broke the recent low of $0.081 and reached $0.0835 before immediately falling to $0.0748.
As a result, these events have affected both bulls and bears, and the DOGE's rebound to $0.08 resistance showed once again that traders may be paying attention.
In particular, the bulls' argument was based on the steady rise in OBV over the past three days, which showed that buyers' volume was outpacing sellers' volume. Thus, after the recent flow, another upward move was likely.

However, the flip side of this argument was the momentum and structure of the DOGE market. Indeed, falling below $0.0775 meant that the structure was bearish and the RSI was at 48, showing that a bullish trend had not yet formed.
In any case, bitcoin (BTC) could pave the way for the altcoin market. In fact, aggressive bulls might try to exploit a Dogecoin breakout above $0.081 if BTC gets back above $29k.