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.
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Do you expect xrp to break its current resistance of $0.3565 this weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: ETH Nears $1,230 Resistance, Following Strong US GDP Data MARKET UPDATES | 10 hours ago Biggest Movers: DOGE Rebounds on Thursday, LTC Nears 1-Week High MARKET UPDATES | 1 day ago
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