Crypto analyst Jacob Canfield has raised the possibility of the Dogecoin price replicating the recent XRP rally. This came as the analyst highlighted similarities between Dogecoin’s recent price action and XRP’s. 

Dogecoin Price To Replicate XRP Rally?

In an X post, Jacob Canfield suggested that the Dogecoin price could soon replicate the recent XRP rally. He stated that Dogecoin was trading similarly to XRP in the lower time frames. DOGE is holding former resistances as support and trading in a “pretty straightforward” way. 

Based on this, the Dogecoin price could pull an XRP rally and witness massive gains like the one that XRP has recorded in the last couple of weeks. It is worth mentioning that Dogecoin witnessed a similar rally last month. Earlier in November, DOGE recorded a parabolic rally, which led to a gain of 161% in that month. 

Since then, the Dogecoin price has consolidated around the $0.4 range, although it looks well-primed for another leg to the upside. Canfield’s accompanying chart showed that Dogecoin’s next leg up could take it above the $0.48 level. Meanwhile, he highlighted the $0.55 and $0.66 price levels as ones to watch out for, as that is where the 1.618 and 2.618 Fibonacci levels are, respectively.  

DOGE On The Verge Of A Major Move

Crypto analyst Master Kenobi recently stated that the Dogecoin price was on the verge of a major move, further suggesting that the meme coin could soon replicate XRP’s rally. Master Kenobi predicted a major move as he analyzed Dogecoin’s recent price action in relation to the previous cycle. 

The crypto analyst noted that in the previous cycle, it took 25 days of consolidation before a significant breakout occurred. If history repeats itself, he believes that the Dogecoin price is on the verge of a major move, as it has also consolidated for a similar period since its early November rally. 

Master Kenobi said that the Dogecoin price is already on day 21 of this consolidation, meaning that the pump to the next level could happen in the next three to four days. The crypto analyst didn’t give specific targets for this next leg up. However, his accompanying chart showed that Dogecoin could finally hit the $1 milestone and even rally further to $2.9. 

This $2.9 target could mark the top for the Dogecoin price in this market cycle, as Master Kenobi had previously predicted that the foremost meme coin would top at around $3. He also mentioned that any target beyond $5 in this market cycle is unrealistic. 

At the time of writing, the Dogecoin price is trading at around $0.42, up in the last 24 hours, according to data from CoinMarketCap. 

Featured image created with Dall.E, chart from Tradingview.com

Crypto analysts like Dark Defender have predicted that the XRP price could still rally to double digits in this market cycle. XRP is currently showing signs of life after Forbes suggested it was a ‘Zombie’ coin earlier in the year.

XRP Price To Reach $10 Despite Forbes Backlash

Crypto analyst Dark Defender has predicted that the XRP price can reach $10 in this market cycle. In fact, based on his Elliot Wave theory analysis, the crypto could rally to as high as $18 sometime next year.

XRP is currently enjoying a bullish momentum, having rallied over 200% since last month. Thanks to this parabolic rally, the coin is up over 290% year-to-date (YTD) despite witnessing a slow start to the year, which led to criticism from platforms like Forbes.

With this bullish momentum, a recent CoinGape market analysis raised the possibility of the XRP price reaching its current all-time high (ATH) of $3.8 as early as this week. Meanwhile, while reaffirming his $18 prediction, Dark Defender provided insights into what to expect from the crypto moving forward.

The crypto analyst stated that $1.8815 and $2.1322 are critical supports for XRP. He added that XRP could range between $2.13 and $2.92 for a few days. If the crypto is able to hold this range, Dark Defender predicts that it could then rally to the new mid-target level of $3.9993.

The analyst’s accompanying chart showed that the next target for the XRP price after it rallies to $3.9 would be $5.5. The rally to these mid-targets is expected to happen sometime this month before the rally to the $18 target begins next year.

A Bounce From $2.19 Will Strengthen Bullish Continuation

In an X post, crypto analyst Egarg Crypto provided an XRP price analysis, in which he stated that a bounce from the $2.1970 level would lead to higher highs and strengthen the bullish continuation.

Meanwhile, the analyst suggested that a break below this level could cause the XRP price to drop to as low as $1.6300. However, the analyst suggested that XRP will still rally to double digits. Before now, the crypto analyst predicted that the crypto could rally to as high as $27.

Amid these predictions, XRP has received a major boost as Donald Trump has nominated Paul Atkins as the next US SEC Chair. Known for his pro0crypto stance, Atkins could drop crypto-related lawsuits like the one against Ripple when he assumes office.

✓ Share:

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.