Xrp moved to its highest level since November as the market reacted to news suggesting that Ripple is close to a ruling in its trial with the Securities and Exchange Commission. Cardano also moved higher on Wednesday, hitting a one-month high.
XRProse to its highest since November as the market continued to react to the latest news surrounding Ripple’s trial with the SEC.
Following Tuesday’s low of $0.4199,XRP/USD ran up to an intraday high of $0.4914 earlier in the session today.
This is the strongest point the token has reached since November 6, when prices had retreated from a high above $0.50.
Overall, the earlier rally has since eased, which is attributed to the bulls’ inability to sustain a breakout in the 14-day Relative Strength Index (RSI).
At the time of this writing, the index is hovering at 65.14, below the aforementioned ceiling of 70.00.
The 10-day (red) moving average has maintained its uptrend despite a slight decline, andXRPis currently trading at $0.4459.
Cardano (ADA)
Cardano (ADA) is higher again in today’s session as the token jumped to a one-month high.
ADA/USD moved to a peak of $0.387 on Wednesday, a day after falling to a low of $0.349.
With today’s surge, bulls pushed Cardano to its highest level since the February 23 peak of $0.393.
The chart shows that the 10-day moving average (red) rose just as it crossed the 25-day moving average (blue).
In addition to this, the 14-day RSI is at 60.93, the highest since mid-February.
If the momentum continues, a ceiling of 53.00 could be waiting in the wings, and this could be the end of the downside.
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