Xrp pulled back towards a five-month high on Monday as prices rallied for the third session in a row. The token formerly known as ripple was one of the few winners at the start of the week as markets mostly consolidated. Polygon approached a multi-week low to start the week.
XRPformerly ripple, rallied for a third straight session on Monday as prices neared a five-month high.
After a low of 0.4438 on Sunday, XRP/USD reached an intraday high of $0.4877 earlier in today’s session.
As a result of the move, XRP it approached a recent high of $0.4940, which is the strongest point the token has reached since Nov. 6.
Looking at the chart, this latest rally comes as the RSI moved towards a top at 70.00.
At time of writing, the index sits at 66.91, and if it passes the 70.00 mark, then XRP it will likely hit a new multi-month high.
A long-term top at the $0.5000 mark could potentially be a target for current bulls in the market.
Polygon (MATIC)
Polygon (MATIC), was moving lower to start the week, with the token falling towards a recent support point.
MATIC/USD fell to a low of $1.08, which comes a day after prices traded as high as $1.12.
Overall, the polygon is now on the brink of colliding with the $1.05 floor, which was last reached on March 12.
On the chart, it looks like there has been a crossover to the downside between the 10-day (red) and 25-day (blue) moving averages.
Adding to this, the RSI is now sitting at 43.62, which is marginally above the 43.00 resistance level.
If the momentum continues to fall, there is a strong chance that the MATIC will move below $1.00.
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