XRP rose for a fourth straight day on Tuesday, as overall sentiment in the market was mostly bullish. The global crypto market cap is nearly 10% higher at the time of writing, with the likes of bitcoin trading at a 17-month high. Cardano also surged, recording a 2-month peak.
XRP
XRP, formerly ripple, was one of Tuesday’s biggest movers, as the token rose by as much as 10% today.
After trading at a low of $0.5267 on Monday, XRP/USD climbed to a peak of $0.581 earlier in the day.
This surge resulted in XRP rising to its highest point since August 18, when price was on the cusp of breaking into the $0.60 region.
From the chart, it appears that the move came after the 10-day (red) moving average crossed over its 25-day (blue) counterpart.
Should bulls intend to maintain this recent round of momentum, they will first need to break a ceiling on the relative strength index (RSI) of 72.00.
At the time of writing, the index is tracking at a reading of 71.70.
Cardano (ADA )
Additionally, cardano (ADA) rallied to a multi-month high during today’s session, breaking a key resistance level in the process.
ADA/USD jumped to an intraday peak of $0.2911 on Tuesday, after starting the week trading at a low of $0.2626.
Today’s surge in price has sent the cryptocurrency to its strongest level since August 13, and comes after six days of consecutive gains.
This has resulted in price strength now residing in overbought territory, with a current reading of 75.70.
Looking back at the chart, this is the highest the index has hit since January, and was the catalyst for bulls to break a price ceiling of $0.280.
Register your email here to get weekly price analysis updates sent to your inbox:
Is the $0.30 level attainable in the coming days? Let us know your thoughts in the comments.
Source: Bitcoin
