Wednesday, 29 March 2023
by Earn Media
Xrp rose to a fresh five-month high on Tuesday, as prices climbed for a fourth straight session. The token moved to its highest point since November, which comes despite a red wave sweeping over cryptocurrency markets. The global market cap is down 2.35% as of writing.
XRP, formerly ripple, rose for a fourth consecutive session on Monday, as prices hit their highest point in five months.
XRP/USD surged to an intraday high at $0.5029, less than 24 hours after falling to a low of $0.4573.
As a result of the move, XRP hit its strongest point since November 6, breaking out of a ceiling at $0.4950 in the process.
Looking at the chart, the 14-day relative strength index (RSI) moved to a one-week high, with a current reading of 68.87.
This is marginally below resistance at 69.00, and close to a recent seven-month high at 74.00.
Earlier gains in XRP have already begun to ease, with bulls seemingly securing gains around this ceiling.
During today’s red wave, monero (XMR) was a notable token to fall, as prices moved to a five-day low.
Following a high of $163.98 to start the week, XMR/USD slipped to a bottom at $149.85 earlier in today’s session.
The drop sees monero fall by as much as 7%, edging closer to a long-term support point at $146.00 in the process.
Whilst price has yet to reach this floor, the RSI collided with a support point of its own at the 49.00 mark.
Bulls have since pushed the index higher, with price strength now tracking at 50.08, which comes as XMR moved away from earlier lows.
Currently, monero is tracking at $154.03, with a move towards a ceiling at $156.00 a strong possibility.
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Do you expect monero to move higher in upcoming days? Let us know your thoughts in the comments.