Markets continue to slide as XRP, Dogecoin outperform

It happened at a time of positive sentiment towards the payments tokens when Ripple founder Brad Garlinghouse revealed that his company was doing “much better than expected” in its defense against the SEC.

Markets continue to slide as XRP, Dogecoin outperform

XRP and Dogecoin (DOGE) both gained more than 6% in the last 24 hours, as independent triggers fueled buying of the two coins despite a weakening crypto market.
According to CoinMarketCap, the entire capitalization of the cryptocurrency market fell by 2.8 percent to $1.87 trillion. Bitcoin’s dominance ratio – its share of total crypto market value – fell by 0.3 percentage points to 40.7 percent.

XRP’s surge coincided with a good mood toward payment tokens, as Ripple creator Brad Garlinghouse stated on Thursday that the company’s continuing defense against an SEC case was proceeding “far better than expected.”

Ripple, which utilizes XRP in its payments network, denies the SEC’s claim that the XRP coin was produced and offered to US investors as an unregistered asset.

In Asian hours on Friday, XRP broke above resistance at $0.75, reaching as high as $0.80 before returning marginally. If the present purchasing power holds, the tokens may be able to reclaim the $0.82 and higher levels.

The XRP price rose above resistance levels on Friday (TradingView)

Positive proceedings have typically resulted in an increase in XRP values, as investors view the conclusion of judicial action as an overall favorable indicator. In February, for example, XRP rose 22% when it was decided that significant papers relevant to the case might be disclosed.
Meanwhile, DOGE’s ascent coincided with Tesla CEO Elon Musk’s bid to buy out the whole Twitter network. Musk owns 9.2 percent of Twitter and has proposed to take the company private for $54.20 a share.
DOGE surged to a resistance level of 15 cents on Friday morning, up from $0.13 on Thursday, according to price data. DOGE’s current price behavior might see it continue a bigger upswing that began in March when prices jumped from $0.11.

After a surgeon Friday morning, DOGE hit resistance (TradingView)

Musk’s possible involvement in Twitter has nothing to do with dogecoin. Some observers predict that Musk, who has actively supported the growth and development of dogecoin, may integrate the currency in some form on Twitter.

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