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XRP gains momentum as Arizona moves to add it to state crypto reserve

  • XRP has held strong near $1.40 despite mixed market signals.
  • Key resistance levels to watch are $1.50, $1.54, and $1.91.
  • Arizona has proposed to include XRP in a state-managed crypto reserve fund.

XRP cryptocurrency has held steady above $1.40, showing resilience despite a broadly cautious market.

Recent developments in US policy have added a fresh layer of optimism for XRP enthusiasts.

Arizona advances bill to include XRP in state reserve

Arizona lawmakers are moving forward with legislation that could formally include XRP in a state-managed digital assets fund.

The proposal seeks to create a strategic reserve for digital currencies obtained through seizures or confiscations.

XRP, alongside Bitcoin (BTC), is explicitly listed as an eligible asset.

The bill recently passed a key Senate committee in a 4-2 vote, marking a significant step forward.

If enacted, the fund would be managed by the state treasurer with strict custodial oversight.

This move would make Arizona one of the first US states to formally reference XRP in a government financial framework.

For XRP holders, this development is largely symbolic.

The state would not be directly purchasing XRP with taxpayer money, but inclusion in the reserve adds credibility.

It reinforces XRP’s reputation as a functional and settlement-oriented digital asset rather than just a speculative token.

Market activity signals caution

XRP’s short-term price action has been mixed.

The coin is supported around $1.40 to $1.44, creating a key floor that traders are watching closely.

Exchange outflows suggest accumulation by larger holders, while smaller whales have added to their balances, hinting at potential upward pressure.

Technical indicators show both bullish and bearish signals.

Momentum oscillators suggest limited buying activity in the short term, but longer-term smart money metrics point to possible gains.

Patterns on the charts indicate that a break below $1.42 could trigger a short-term pullback toward $1.12.

At the same time, if support holds, traders could see upside targets near $1.91 and $2.13.

XRP has been rangebound for the past month, but the combination of policy developments and structural market accumulation could push it higher.

XRP price prediction

Policy developments in Arizona, combined with accumulation patterns and technical support, may give XRP the momentum it needs to challenge its next resistance levels.

Traders should watch the $1.40–$1.44 support zone closely.

A strong hold here could set the stage for a breakout.

The resistance levels to monitor are $1.50 and $1.54 in the near term.

Beyond that, the next targets are $1.67 and $1.91.

These levels align with smart money accumulation and historical trading ranges.

A sustained move above $2.00 could signal a return of broader bullish sentiment.

Overall, XRP’s price is poised in a delicate balance.

Short-term caution is warranted, but medium-term prospects look promising.

The post XRP gains momentum as Arizona moves to add it to state crypto reserve appeared first on CoinJournal.

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Dogecoin price tests $0.1 as this chart pattern hints at possible rebound

  • Dogecoin struggles below key moving averages, signaling weak short-term trend.
  • A cup and handle pattern is forming, hinting at a potential breakout if the resistance breaks.
  • Support lies near $0.08, with higher volume needed for a sustained upward move.

Dogecoin is hovering around the $0.10 mark after a shaky month that saw the price dip over 20%.

The popular meme coin has struggled to hold momentum, with trading volumes showing signs of weakness.

Even so, there are hints in the charts that a rebound could be forming.

Technical analysis

Looking at the moving averages, DOGE is currently below the 5-day, 10 and 20-day averages.

Dogecoin price analysis
Dogecoin price chart | Source: TradingView

This typically signals that the short-term trend is weak.

Traders often watch for the price to climb above these averages as an early sign of bullish momentum.

Right now, resistance is in the $0.105–$0.107 range.

A break above this level would be an important signal for those hoping for a recovery. The MACD indicator is also showing mixed signals.

The MACD line has moved above the signal line despite both being in the negative, and the histogram has turned positive, suggesting that buyers are beginning to step in after a period of inactivity.

However, volume is still modest. A strong breakout would require significantly more trading activity than the roughly $33 million seen recently.

Support remains solid at around $0.08, which has already acted as a bounce point.

This level has prevented further sharp declines and could continue to anchor the price if bearish pressure returns.

Cup and handle pattern points to possible upside

On the daily chart, Dogecoin is forming a classic Cup and Handle pattern.

The Cup bottomed near $0.08 and then rallied toward $0.11.

The Handle is now forming near the top of the Cup, consolidating just below resistance.

Cup and hundle pattern forms on Dogecoin chart
Cup and handle pattern | Source: Trader Tardigrade on CoinMarketCap

This formation often precedes a breakout when the price moves above the Handle.

If Dogecoin can clear this resistance, it could push toward higher levels, reigniting optimism among traders.

Chart patterns like this are watched closely because they combine both support and momentum signals.

They show where traders are willing to buy and where sellers may step in.

In Dogecoin’s case, the pattern suggests that there is still potential for upside, but it won’t happen without stronger buying interest.

Volume and momentum will be key to confirming the breakout. Traders are likely waiting for both to pick up before committing heavily.

Even with these early bullish signs, caution is warranted.

The market has been volatile, and DOGE has lost significant value over the past year. Short-term gains are possible, but the overall trend remains fragile.

The post Dogecoin price tests $0.1 as this chart pattern hints at possible rebound appeared first on CoinJournal.