Xrp moved to its highest point since November as markets reacted to news suggesting that a verdict may be near in Ripple’s case with the Securities and Exchange Commission (SEC). Cardano also rallied on Wednesday, hitting a one-month high.
XRP rose to its highest point since November, as markets continued to react to the latest news regarding Ripple’s case with the SEC.
After a low of $0.4199 on Tuesday, XRP/USD reached an intraday high of $0.4914 in today’s session.
This is the strongest point the token has reached since November 6, when prices retraced from a high of $0.50.
In general, previous gains have since declined, which comes as the bulls failed to hold a break in the 14-day Relative Strength Index (RSI).
At the time of writing, the index is at 65.14, which is below the previously mentioned ceiling at 70.00.
The 10-day moving average (red) remains in an uptrend despite the marginal decline, which sees XRP it is currently trading at $0.4459.
Cardano (ADA)
Cardano (ADA) rose again 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 rise saw the bulls push Cardano to its highest level since Feb. 23, when the price peaked at $0.393.
Looking at the chart, it appears that the rally coincided with the 10-day moving average (red) crossing over its 25-day counterpart (blue).
Adding to this, the 14-day RSI now sits at 60.93, which is its highest reading since mid-February.
A top at 53.00 can await the bulls if momentum continues in this current direction, which could stop the rally.
Sign up your email here to receive weekly price analysis updates in your inbox:
Could cardano start to change direction in the next few days? Let us know your thoughts on it in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons, CryptoFX / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
