CandleFocus

XRP and Dogecoin (DOGE) Still Bullish: Major Metric Shows

Author: Content Editor
The MDIA indicator suggests a positive long-term outlook for XRP and Dogecoin, despite a recent market-wide correction. The MDIA measures how old investment dollars are on a network and indicates if coins are becoming more active or remaining inactive. XRP's MDIA has decreased by 22% in 14 weeks, while Dogecoin has experienced a 31% decline in eight weeks. This decrease in MDIA typically corresponds with bullish trends. XRP's current price is forming a descending channel, with critical support levels at $2.20 and $1.90. If XRP can recover $2.50, a new push towards $2.80 is possible, but short-term volatility is expected. Dogecoin recently broke below its ascending channel, signaling a bearish trend, but the declining MDIA suggests a potential recovery in the long run. Immediate support for Dogecoin is around $0.38, while $0.31 serves as stronger fallback support. A recovery above $0.44 could prompt a resumption of the bullish trend for Dogecoin. Despite possible short-term price swings, the declining MDIA indicates that both XRP and Dogecoin are well-positioned for long-term growth, thanks to increased involvement from long-term holders.

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