DOGE gains on X trading plans while XRP approaches key resistance zone.
The crypto market extended its rally over the past 24 hours as Bitcoin climbed above $70,000. Altcoins led the move, with Pi, Pepe, Dogecoin, and XRP posting double-digit gains. The surge followed renewed risk appetite after the latest U.S. inflation data.
Pi Coin and Pepe Coin Outperformed the Crypto Market
Pi Coin surged to $0.1985, its highest since January 20. The token is now up 4 days in a row and has beaten Bitcoin, Ethereum over the last 4 days. The upward movement is due to increasing interest before crucial network upgrades.
Network upgrades have been initiated on February 15, and additional updates will continue to roll out in the weeks and months ahead. Investors are also focused on February 20, which will mark the first-year anniversary of the mainnet launch.
Pi has been supported by the broader rally in the crypto market. As CoinGape reported, U.S. consumer inflation release had the headline CPI drop to 2.4% in January. The reading is increasingly approaching the 2% target and rekindles demand for digital assets.
One of the biggest bounces among meme tokens came from Pepe. The price rose to $0.0000054, its highest since late January. The rebound came after a double bottom near $0.0000036 was formed. The neckline of this reversal pattern sits at $0.0000072, which is the high for January. On the other hand, Pepe also created a falling wedge with downward-sloping and converging trendlines.
Momentum has been improving on the rebound. Some bullish crossovers have been established by the Relative Strength Index and the Percentage Price Oscillator, whose readings were increasing. The nearest resistance for traders to watch is now the $0.0000072 region which is approximately 45% above the price at present.
Dogecoin Surges on Musk News, XRP Nears Breakout
Dogecoin is also among the biggest gainers. The token rallied by two digits gains and rose above $0.11 after hovering around $0.095. The surge came after remarks made by Elon Musk about new trading functionalities on X.
Musk added that users will soon be able to trade stocks and cryptocurrencies directly from their timelines. The beta version will be available in one to two months within X Money, the platform’s internal payments system. The aim, Nikita Bier said in an X post, is to build an “everything app,” a superapp that includes investing, payments, posting — and messaging.
In addition, XRP price also experienced a sharp increase of 15.97% in the last 24 hours. The cryptocurrency is trading at around $1.66 after the resumption of buying activity. The move was a result of the news of Brad Garlinghouse, the CEO of Ripple, joining a vital US regulatory committee.
In an X post, analyst Master of Crypto stated that the cryptocurrency is nearing a crucial decision point. The cryptocurrency is currently testing the top of a long-term downtrend channel. XRP is currently facing vital resistance at the range of $1.75 to $1.85.
The cryptocurrency can break through the range if it experiences high volume. According to analysts, XRP can move towards the region of $2.00. If the cryptocurrency fails to break through the range, it can move back to the region of $1.40 before trying again. XRP’s next move will depend on its response at the resistance point, which is currently experiencing high momentum.
