Biggest Movers: XRP Climbs 5%, as LTC Nears Multi-Week High on Saturday
The crypto asset xrp rose by as much as 5% on Saturday, following declines of a similar amount during yesterday’s session. This comes despite the global crypto market cap moving lower, falling by 0.51% at the time of writing. Litecoin was also higher to start the weekend. XRP
XRP, formerly ripple, was back in the green on Saturday, as the token rebounded from Friday’s losses.
Following a low of $0.418, XRP/USD raced to an intraday high of $0.4501 earlier in today’s session.
The move came as bullish momentum increased at the price floor of $0.4250, after bears failed to sustain an earlier breakout. XRP/USD – Daily Chart
From the chart, it appears that the rebound took place as the relative strength index (RSI) moved away from its own support, at 58.00
As of writing, the index is tracking at 60.77, and seems to be heading towards a ceiling at the 63.00 mark.
The 10-day (red) moving average has also extended its upward cross versus its 25-day (blue) counterpart, which could be a sign of upcoming gains. Litecoin (LTC)
Litecoin (LTC), was another notable mover to start the weekend, as prices remained close to a multi-week high.
LTC/USD climbed to a peak of $93.97 on Saturday, which comes less than 24 hours after a low of $89.87.
As a result of this, litecoin is now trading close to a ceiling of $94.00, and a recent three-week high of $96.11. LTC/USD – Daily Chart
One catalyst for the rally was a recent crossover between the 10-day (red) and 25-day (blue) moving averages.
In addition to this, the RSI is now tracking at 57.07, which is marginally above a resistance level of 56.00.
Should bullish momentum continue to rise, there is a strong possibility that LTC will move beyond $100.00.
Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, litecoin, LTC, Ripple, XRP
Do you expect litecoin to move higher in the upcoming days? Let us know your thoughts in the comments. Eliman Dambell
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder. Bitcoin, Ethereum Technical Analysis: BTC Fall Towards $27,000 to Start the Weekend MARKET UPDATES | 11 hours ago Biggest Movers: XMR Rises to 1-Month High, XRP Moves 4% Lower MARKET UPDATES | 1 day ago
Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: BTC Fall Towards $27,000 to Start the Weekend Next articleBitcoin Difficulty Increases for Third Time in Six Weeks, Miners Remain Undeterred With High Hashrate Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFollowing a Brief Fee Spike, Gas Prices to Move Ethereum Drop 76% in 12 Days
Transaction fees on the Ethereum network are dropping again after average fees saw a brief spike on April 5 jumping to $43 per transfer. 12 days later, average ether fees are close to dropping below $10 per transaction and median-sized ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale UAE Airliner Emirates to Launch NFTs and Experiences in the Metaverse Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher