While the market seemingly hopped onto the recovery bandwagon, XRP’s 20 SMA crossed its 50-200 SMA forming a golden cross. Now its technicals flashed mixed near-term signs.
![Dogecoin [DOGE] to rise beyond 40%? Whale activity may spur rally](https://crypto.newswireservice.net/wp-content/uploads/2023/02/doge-wale-1000x600-120x86.jpg)
Dogecoin blipped but continued its recovery with increasing buying pressure. Terra, however, noted exponential gains and struck its ATH on 24 December.
XRP
TradingView, XRP/USDT
As we saw in the previous analysis, XRP continued to oscillate in a rising wedge (green, reversal pattern) after the ascending triangle (white) breakout. The alt saw a 21.3% ROI during this phase as it poked its three-week high on 23 December.
Meanwhile, the 20-SMA (red) crossed the 50-SMA (grey) and the 200-SMA (green), depicting a strong trend reversal for bulls. However, with a bearish divergence (white trendline) and strong resistance at the $1.01-level, the price action saw a breakdown toward the $0.88-mark.
Now, the 50-SMA stood as immediate testing support as the price action bounced back from it.
At press time, XRP was trading at $0.9175. The RSI swayed near the 46-mark after a sharp plunge but did not lose its power. The pullback volumes (red) seemed higher than the recovery volumes recently. The Squeeze Momentum Indicator flashed grey gots and hinted at a high volatility phase.
Terra (LUNA)
TradingView, LUNA/USDT
LUNA witnessed a massive upturn after a down-channel breakout on 14 December. Since then, the alt aggressively rose between two parallel channels heading north and showed no correction signs at press time. It saw an over 96.89% ROI (from 14 December low) until it touched its ATH on 24 December.
The 20-SMA (red) stood as excellent support for the alt during the upturn. Over the past two days, the bulls tested the $100-level thrice after depicting a one-sided buying power.
At press time, LUNA traded at $100.31. The RSI wavered around the 63-mark and showed no slowing signs at press time. Also, the OBV visibly affirmed the buying power. However, the Volume Oscillator started to mark…
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