Biggest Movers: ADA, XRP Rebound From Recent Losses on Friday

Cardano climbed for a second consecutive session on Dec. 23, as the token surged to its highest point since Monday. Overall, crypto prices were marginally higher as of writing, with the global market cap currently up 0.49%. Xrp, formerly known as ripple, also rose, with prices nearing a key resistance level.

Cardano (ADA)

Cardano (ADA) was in the green on Friday, as prices surged for a second straight session.

ADA/USD raced to a high of $0.2623 in today’s session, which comes less than a day after the token was trading at $0.2482.

The move saw the token climb towards a resistance level of $0.2685, and it is currently trading at its highest point since Monday.

ADA/USD – Daily Chart

As can be seen from the chart, Friday’s gains come as the 14-day relative strength index (RSI) has moved closer to a ceiling of its own at 32.00.

The index is currently tracking at 30.18, with the price slipping from earlier highs, and trading at $0.2586 as of writing.

In order for bulls to hit the ceiling at the $0.2685 mark, this upcoming ceiling of 32.00 on the RSI must first be broken.

XRP

XRP, formerly ripple, also rose on Friday, as the token extended a recent bull run, in hopes of breaking out of a key resistance point.

Following a low of $0.3424, XRP/USD raced to an intraday peak of $0.3531 earlier in today’s session.

Today’s high is the strongest point that the token has traded at since Sunday, when it was at a top of $0.3555.

XRP/USD – Daily Chart

Despite this recent climb in price, sentiment in XRP still appears to be bearish, with the 10-day (red) moving average (MA) extending its downwards cross with the 25-day (blue) MA.

In addition to this, the 14-day RSI is currently tracking at 39.65, which is close to a ceiling of 41.00.

If bulls are unable to force a breakout of this level, we will likely see XRP once again move lower.

Register your email here to get weekly price analysis updates sent to your inbox:

Comments

Post a Comment

Popular posts from this blog

Quant Pauses Over $115, But Tends To Move In A Range

Image
Jan 06, 2024 at 10:09 // Price Author Coin Idol The price of Quant (QNT) is falling after hitting the $150 resistance level twice. Price Analysis by Coinidol.com. Long-term Quant price prediction: ranging This will be the second rejection of the altcoin at its current high. QNT could reach its high of $230 if the current resistance is broken. The cryptocurrency value will be pushed back to its previous highs by buying after a previous decline. The current value of the coin is $120 at the time of writing. The current decline could go below the moving average...
Read more

Dogecoin Price Prediction: DOGE Surges 22% In A Week As This Innovative Staking Meme Coin Storms Toward $3 Million

Image
The Dogecoin price has surged 22% in the past week even after it fell 2% in the last 24 hours to trade at $0.170 as of 00:35 a.m. EST on trading volume that plunged 37% to $2.06 billion. Dogecoin Price Prediction: DOGE Aiming For A Bullish Rally The Dogecoin price has been in an uptrend in October, as the bulls used the $0.11 support zone to push the price through a markup phase, according to data from GeckoTerminal . DOGE then went through a consolidation phase from mid-October within the $0.1460 range. The Dogecoin price bulls then used the lower boundary of the sideways pattern at $0.13 as the support to push DOGE through a parabolic curve, which indicates strong momentum. DOGE now trades above both the 50-day and 200-day Simple Moving Averages (SMAs), which supports the price’s general bullish outlook. The RSI is in bullish territory but not yet overbought, currently at 65, meaning there’s still potential for further gains before any risk of a reversal. If the RSI ...
Read more

Netflix’s Bitconned Exposes Crypto’s Dark Side, Unveils Centra Tech’s Scheme

Netflix documentary “Bitconned” unveils details of a crypto scam orchestrated by Centra Tech. The documentary highlights risks in the unregulated crypto space, emphasizing deceptive projects. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. In the recent documentary release from Netflix titled “Bitconned,” viewers are presented with a comprehensive exploration of the nefarious world of crypto, unraveling a tale of deception, fraud, and the ominous rise of dubious crypto ventures. Centra Tech, the subject of the new film, is one of several high-profile crypto scams in recent years. Touted as a revolutionary force in the crypto landscape, Centra Tech, was, in reality, a house of cards built on deceit.  The documentary uncovers the mechanics behind the scenes, showing how Centra Tech managed to rake in millions of dollars daily. Ray Trapani, along with co-founders Sohrab Sharm...
Read more