XRP Rises to Strongest Point Since November – Market Updates Bitcoin News
Xrp moved to its highest point since November as markets reacted to news suggesting a verdict may be near in Ripple’s case with the Securities and Exchange Commission (SEC). Cardano was also higher on Wednesday, hitting a one-month high.
XRP rose to its highest point since November as markets continued to react to the latest news surrounding Ripple’s case with the SEC.
After a low of $0.4199 on Tuesday, XRP/USD rallied to an intraday high of $0.4914 earlier in today’s session.
This is the strongest point the token has reached since November 6, when prices pulled back from a high above $0.50.
Overall, earlier gains have since faded, which comes as bulls failed to sustain a breakout on the 14-day relative strength index (RSI).
At the time of writing, the index is at 65.14, which is below the mentioned ceiling of 70.00.
The 10-day (red) moving average remains in an uptrend despite the marginal decline, which has XRP currently trading at $0.4459.
Cardano (ADA)
Cardano (ADA) was once again higher in today’s session, as the token jumped to a one-month high.
ADA/USD moved to a high of $0.387 on Wednesday, which comes a day after falling to a low of $0.349.
Today’s surge saw bulls push cardano to its highest level since February 23, when the price peaked at $0.393.
Looking at the chart, it appears that the rally coincided with the 10-day (red) moving average crossing its 25-day (blue) counterpart.
In addition to this, the 14-day RSI is now tracking 60.93, which is the highest reading since mid-February.
A ceiling of 53.00 could await for bulls if momentum continues in this current direction, which could put an end to the run.
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Could cardano start to change direction in the coming days? Let us know your thoughts in the comments.
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