Xrp rose to its highest level since last May as bullish sentiment returned to cryptocurrency markets. The token was up as much as 17% in the Wednesday session, with the global market capitalization more than 5% higher. Cardano also rallied, rising more than 11%.
XRP continued its bullish run on Wednesday as prices rallied as much as 17% in today’s session.
Following a drop to a low of $0.4866 on Tuesday, XRP/USD rose to an intraday high of $0.5804 earlier in today’s session.
As a result of the move, XRP hit its strongest point since May 9, breaching a long-term top of $0.5550 in the process.
The rise came as the 14-day RSI also broke free from a recent high at the 70.00 mark.
At the time of writing, the index is now marginally below another resistance point, this time at the 75.00 mark.
Overall, past gains have eased a bit as the bulls seem to have locked in gains near this current point of uncertainty.
Cardano (ADA)
In addition to XRPCardano (ADA) also rallied in today’s session, with the token rising nearly 11%.
ADA/USD moved to an intraday high of $0.3894 on Wednesday, after a low of $0.3511 the day before.
This rally brought cardano to its strongest point since February 23, when the price peaked at $0.3951.
Looking at the chart, today’s move appears to have occurred as the RSI broke through a ceiling at the 58.00 mark.
At time of writing, the index is at 59.75, with the next visible point of resistance at 63.00
If this goal is achieved, there is a strong possibility that ADA it will trade above $0.4000.
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