Sunday, 5 March 2023
by Berkeley Lovelace
Xrp rebounded from a two-month low to start the weekend, as prices moved back above a key support point. The token, which fell to its lowest point since January on Friday, rose by as much as 2% on Saturday. Cardano also recovered yesterday’s losses.
XRP rose higher to start the weekend, as the token formerly known as ripple rebounded from a two-month low.
XRP/USD jumped to an intraday high of $0.3795 earlier in the day, which comes after bottoming out at $0.3664 on Friday.
Yesterday’s drop saw XRP fall to its weakest point since January 11, when prices were at a low of $0.3477.
Looking at the chart, Saturday’s recovery has sent the token back above a long-term floor at $0.3720, which was broken yesterday.
Overall, the rebound appears to have taken place as the relative strength index (RSI) bounced from a floor at 43.00
At the time of writing, the index is tracking at 43.48, with the next visible ceiling at the 45.00 mark.
Following a low of $0.3367 on Friday, ADA/USD moved to a peak of $0.3443 to start the weekend.
Similar to xrp above, yesterday’s move saw cardano fall to its lowest level since January 11.
Overall, ADA is now trading over 1.3% higher than this bottom, climbing back above a recent support point in the process.
Cardano is now trading at $0.3418, which is higher than the aforementioned floor at $0.3400.
The rebound in price comes despite the 14-day RSI continuing to track near an eight-week low of its own at 38.76.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect cardano to move higher in the coming days? Let us know your thoughts in the comments.