XRP Surges to One-Month High
XRP, formerly known as ripple, experienced a significant surge today, with its price increasing by as much as 5%. After hitting a low of $0.5036 yesterday, XRP/USD reached a peak of $0.5455 during Friday’s trading session. This marks its highest point since August 29 when it hit a ceiling of $0.5490.
The rise in price can be attributed to the 14-day relative strength index (RSI) surpassing its own resistance level at 56.00. Currently, the RSI is at 58.67, and if it breaks the 60.00 ceiling, there is a strong possibility that XRP will surpass $0.5500.
Solana Soars Above $20
In addition to XRP, solana (SOL) also experienced a strong rally on Friday, surpassing the $20.00 mark. SOL/USD reached a high of $20.32 during today’s session after hitting a low of $19.22 on Thursday. This surge has led to solana reaching its highest point in nine days following three consecutive days of bullish momentum.
The uptrend can be seen as the 10-day moving average rose above its 25-day counterpart. Bulls are now targeting a higher resistance level of $21.00, which would result in a four-week high for solana.
Hot Take: Positive Momentum for XRP and Solana
XRP and solana both showed positive momentum on Friday, with XRP surging to a one-month high and solana surpassing the $20.00 mark. The rise in XRP’s price can be attributed to the strengthening relative strength index (RSI), while solana’s surge is supported by an uptrend indicated by moving averages.
Both cryptocurrencies are now eyeing higher resistance levels, with XRP potentially surpassing $0.5500 and solana aiming for $21.00. This positive momentum indicates a bullish sentiment in the crypto market, which could lead to further gains for these digital assets.
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