Biggest Movers: XRP Hits 2-Month High, Despite Crypto Consolidation
Xrp rose to a two-month high on March 21, despite crypto markets mostly consolidating in today’s session. The token surged by as much as 12% on Tuesday, whilst the global market cap is trading 0.51% higher as of writing. Cardano was also in the green today.
XRP
XRP, formerly ripple, was one of Tuesday’s biggest movers, as prices rose by as much as 12%.
XRP/USD hit an intraday peak of $0.4283 earlier in today’s session, a day after trading at a low of $0.374.
As a result of Tuesday’s move, xrp has now moved to its strongest point since January 23, breaking out of a key resistance level in the process.
The aforementioned ceiling was at the $0.402 mark, and came as the relative strength index (RSI) also moved beyond its own ceiling.
At the time of writing, the index is tracking at 65.76, which is above a point of resistance at the 57.00 mark
Overall, it appears that bulls are attempting to take XRP to a ceiling of 69.00, which could see prices hit their strongest point since November.
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Cardano (ADA)
In addition to XRP, cardano (ADA) also moved higher in Tuesday’s session, with prices trading by as much as 3% higher.
Following a low of $0.3318 to start the week, ADA/USD raced to a high of $0.354 earlier today.
The surge pushed the token close to its long-term ceiling at $0.357, which has mostly been in place since the start of March.
Looking at the chart, it appears that the climb coincided with the RSI moving to a resistance zone of its own.
As of writing, the index is tracking at 52.31, which is marginally below the aforementioned ceiling at 53.00
Should a breakout occur, it is likely that ADA will move closer to the $0.370 mark.
