Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High – Market Updates Bitcoin News
XRP rose for a fourth straight day on Tuesday, as overall sentiment in the market was mostly bullish. The global crypto market cap is nearly 10% higher at the time of writing, with the likes of bitcoin...
![Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High – Market Updates Bitcoin News](https://static.news.bitcoin.com/wp-content/uploads/2023/10/shutterstock_783958297.jpg)
XRP rose for a fourth straight day on Tuesday, as overall sentiment in the market was mostly bullish. The global crypto market cap is nearly 10% higher at the time of writing, with the likes of bitcoin trading at a 17-month high. Cardano also surged, recording a 2-month peak.
XRP
XRP, formerly ripple, was one of Tuesday’s biggest movers, as the token rose by as much as 10% today.
After trading at a low of $0.5267 on Monday, XRP/USD climbed to a peak of $0.581 earlier in the day.
This surge resulted in XRP rising to its highest point since August 18, when price was on the cusp of breaking into the $0.60 region.
![Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High](https://static.news.bitcoin.com/wp-content/uploads/2023/10/xrpusd_2023-10-24_14-01-24_34406-1024x570.png)
From the chart, it appears that the move came after the 10-day (red) moving average crossed over its 25-day (blue) counterpart.
Should bulls intend to maintain this recent round of momentum, they will first need to break a ceiling on the relative strength index (RSI) of 72.00.
At the time of writing, the index is tracking at a reading of 71.70.
Cardano (ADA )
Additionally, cardano (ADA) rallied to a multi-month high during today’s session, breaking a key resistance level in the process.
ADA/USD jumped to an intraday peak of $0.2911 on Tuesday, after starting the week trading at a low of $0.2626.
Today’s surge in price has sent the cryptocurrency to its strongest level since August 13, and comes after six days of consecutive gains.
![Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High Biggest Movers: XRP Extends Recent Gains, Rising to 8-Week High](https://static.news.bitcoin.com/wp-content/uploads/2023/10/adausd_2023-10-24_14-01-19_901a3-1024x570.png)
This has resulted in price strength now residing in overbought territory, with a current reading of 75.70.
Looking back at the chart, this is the highest the index has hit since January, and was the catalyst for bulls to break a price ceiling of $0.280.
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Is the $0.30 level attainable in the coming 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.
Image Credits: Shutterstock, Pixabay, Wiki Commons
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