As we approach December 2024, market watchers are keenly observing the movements of the XRP price and the Dogecoin price, two of the best performing altcoins, both of which appear poised for a correction.
XRP Price Soaring Heights: Can the Rally Sustain
The XRP price has recently captured headlines with an explosive rally, surging 158% to a yearly high of $1.3. This movement pushed the price beyond key moving averages, reflecting robust bullish momentum
However, analysts caution that this sharp ascent has entered the overbought territory, with the RSI signaling the potential for a correction.
A retracement toward the $0.9â$1 range is likely, offering a necessary cooling period to sustain a healthy uptrend. This consolidation could set the stage for another XRP price upward move, though it highlights the volatile interplay of selling pressure and profit-taking near significant resistance zones.
Dogecoin Price Bull Run: A Pause or the Start of a New Surge?
The Dogecoin price rollercoaster year saw a staggering 300% surge, buoyed by market optimism following the U.S. election. Currently trading at $0.37, the Dogecoin price rally has sparked debates among analysts.
Critics argue that its high market cap limits further explosive growth and indicates declining trading activity since its $17 billion peak earlier this month.
However, bullish analysts highlight the formation of a âbull pennantâ on the Dogecoin price charts, suggesting the potential for another 139% climb to $0.90. Whale investors adding 160 million Dogecoin reinforce optimism that the meme coin still has room to grow, keeping it firmly in the crypto spotlight.
