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The overall market sentiment seemed bleak as very few coins were seen experiencing notable changes while several others…
The last couple of days turned out to be quite interesting for the crypto industry. While Dogecoin [DOGE] recorded a triple-digit surge, XRP wasn’t far off as it followed a similar trend. Both these assets were seen bagging gains over the week, however, this trend failed to persevere. DOGE was seen plummeting despite attracting an array of investors. The XRP community was ecstatic after XRP was seen surging to a high of $0.74. But XRP endured a similar fate as the altcoin steeped down to a low of $0.34.
At the time of writing, DOGE was trading for $0.032 with a 4.66% daily drop. Despite this downfall, DOGE was still harboring bulls in its market. DOGE’s one-day price chart on the cryptocurrency exchange, Binance revealed a buyers’ sentiment.
The volume in the DOGE market had subsided since the end of January. The MACD indicator revealed that it wasn’t going to form a bearish crossover anytime soon. The disparity between the MACD line and the signal line was quite significant. The MACD line had taken over the signal line at the beginning of this month and has continued the same bullish trend.
The Relative Strength Index indicator exhibited a buyer’s sentiment as the RSI marker was still above the 50 median.
XRP endures similar fate
XRP was seen recovering from its recent defeat, as it was rising by over 2.89%. During press time, XRP was priced at $0.37. The bulls were intact in the XRP market and the one-day chart of XRP on Binance affirmed the same. The MACD indicator was noted carrying out a bullish crossover. The Relative Strength Index indicator was exposing a buyers’ sentiment.
While it was confirmed that the bulls were residing in these markets, prominent crypto analytics platform, Santiment divulged the drop in these assets’ social interest. In a recent tweet, Sanitment pointed out that the discussion rates of both XRP and DOGE had depleted in the last week after both these assets made a huge social media presence.
The comparison between the discussion rates of $XRP and $DOGE over the past week is quite reflective of just how quickly the tides in interest can change in #crypto. The power of #wallstreetbets continues to be an enormous and revolutionary power. https://t.co/SV34EPV4PO pic.twitter.com/hldaRxQQ67
— Santiment (@santimentfeed) February 3, 2021
