While many altcoins saw their price appreciate dramatically in the past week, the surge has not been uniform across the market’s altcoins. Popular altcoins like XRP, Cosmos, and VeChain saw short-term spikes in their trading price, but have been confined to mostly sideways movement in the past few days.
XRP
Source: XRP/USD[1], TradingView
XRP price has moved between the $0.28 and $0.307 price level in the past few days. At press time XRP is being traded at $0.300 with a market cap of $13.5 billion. During the past 24-hours, the coins have been unable to breach the resistance at $0.307. If the coin loses its bullish momentum the supports at $0.285 and $0.266 can help the price.
The EMA ribbons have settled right below the trading price and are likely to offer support if the price of XRP falls even further. The MACD indicator shows strong bearish sentiment as the signal line has now gone past the MACD line.
Cosmos [ATOM]
Source: ATOM/USD[2], TradingView
The fate of Cosmos was very similar to that of XRP. During the past 7 days, the price of Cosmos rose by over 3 percent and is currently being traded at $5.2. However, the past few days saw increased sideways movement for the coin. At press time Cosmos faces significant resistance at the $5.4 price level and support at $4.8.
The Bollinger Bands have contracted significantly and indicate very low volatility for the coin. The RSI on the other hand looks promising as it now heads into the overbought zone.
VeChain [VET]
Source: VET/USD[3], TradingView
VeChain is currently ranked 31st on CoinMarketCap’s list and is being traded at $0.011 and has noted a trading volume of $91 million. If the coin is able to break out of
