XRP, IOTA, Digibyte Price Analysis: 30 July

  • 30 July 2020, Thursday, 11:00
XRP, IOTA, Digibyte Price Analysis: 30 July
Source: Unsplash

Among XRP, IOTA, and Digibyte, IOTA seemed to be the only cryptocurrency showing the short-term promise of a surge. With Bitcoin climbing above $11,000, the market seemed to have returned to normal. However, that also meant that altcoin dominance was being overshadowed by BTC’s.

XRP

Source: XRPUSD TradingView

The price of XRP, at press time, stood at $0.24 and had a market cap of $10.9 billion. However, while most altcoins were heading down due to an increase in Bitcoin’s dominance, XRP seemed to have risen on the charts. In fact, over the last 24 hours, the crypto noted a price hike of 1.56%.

From the attached charts, it can be seen that XRP had gone parabolic last month, pushing its price to appreciate by 30%. However, XRP faced a dilemma at $0.249, a level that happened to be strong resistance for the cryptocurrency. At the time of writing, the Stochastic RSI was heading lower, pointing towards falling buying pressure/momentum. Hence, expecting the price to head lower [$0.2251] would be logical.

With SBI recently including XRP in its dividend payments, the cryptocurrency’s fanbase seems to have rekindled.

IOTA

Source: IOTAUSD TradingView

Unlike XRP, IOTA had a chance of heading higher. With its price stuck in an ascending parallel channel, IOTA still has time before it breaks out. At press time, IOTA was valued at $0.309, with the total market cap coming up to $848 million, making it the 21st-largest cryptocurrency in the world. Supporting this upward movement for IOTA was the MACD indicator as it showed the formation of a bullish crossover on the charts.

Perhaps, this surge has something to do with IOTA’s release of Stronghold, a collection of multi-purpose libraries for the secure management of passwords, personal data, and private keys, thus laying another important building block for the adoption of IOTA.

Digibyte

Source: DGBUSD on TradingView

Digibyte stood at the 38th spot on the cryptocurrency ladder and had a market cap of $318 million, with each token priced at $0.023, at press time. Although the price has tried breaching the $0.0239 resistance, it seemed to be heading under it, yet again. If this does take place, and it will considering the RSI heading towards the oversold zone, then the price will slip back to the support at $0.0193.

Source: ambcrypto.com