XRP, ADA Rebound from 2-Month Low on Saturday – Market Updates Bitcoin News
Xrp recovered from a two-month low to start the weekend as prices moved back above a key support point. The token, which fell to its lowest point since January on Friday, rose as much as 2% on Saturday. Cardano also recovered yesterday’s losses.
XRP surged higher to start the weekend, as the token formerly known as ripple rebounded from a two-month low.
XRP/USD jumped to an intraday high of $0.3795 earlier in the day, coming off Friday’s low of $0.3664.
Yesterday’s drop saw XRP hit its weakest point since January 11, when prices hit a low of $0.3477.
Looking at the chart, Saturday’s rally has sent the token back above a long-term floor of $0.3720, which was breached yesterday.
Overall, the pullback appears to have taken place as the Relative Strength Index (RSI) bounced off a floor of 43.00
At the time of writing, the index follows 43.48, with the next visible ceiling at 45.00.
Cardano (ADA)
In addition to XRP, cardano (ADA) was another token that rebounded from a multi-month low on Saturday.
After a low of $0.3367 on Friday, ADA/USD moved to a high of $0.3443 to start the weekend.
Like xrp above, yesterday’s move saw cardano fall to its lowest level since January 11th.
Overall, ADA is now trading over 1.3% higher than this low, climbing back above a recent support point in the process.
Cardano is now trading at $0.3418, which is higher than the mentioned floor of $0.3400.
The rise in price comes despite the 14-day RSI continuing to track near an eight-week low of 38.76.
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