XRP remained close to a four-month high on Wednesday, following a recent breakout of a key resistance level. The token was above $0.4000 for a second consecutive session, which happened for the first time since June. Litecoin also edged higher, after prices rebounded following recent losses.
XRP continued to trade close to a four-month high on Wednesday, as bullish sentiment remained strong within the token.
Efter en låg av $0.3774 tidigare under dagens pass, XRP/USD raced to a peak of $0.4215 on hump day.
The move comes after the token broke out of its key price ceiling of $0.4000 på tisdag, hitting its highest point since June 1 i processen.
Although prices have since declined, and as of writing are trading at $0.4044, many still believe that further rallies could come.
Some believe that bulls are targeting the $0.4500 punkt, which appears to be the longer-term resistance point in XRP.
i alla fall, with the 14-day relative strength index (RSI) tracking at 62.45, prices may currently be overbought, leading to an influx of bears, opposed to bulls.
Innehåll
Litecoin (LTC)
Litecoin (LTC) was also in the green in today’s session, and prices rebounded following recent losses.
Following a drop to a two-month low of $50.01 att starta veckan, LTC/USD rose to an intraday peak of $54.17 på onsdag.
The drop led to the token falling below a key support point of $52.00, however bulls reentered the market, sending prices higher.
Historiskt sett, once above the aforementioned floor, bulls typically take prices towards a ceiling of $60.00.
In order for this to happen on this occasion, we will need to see LTC climb above another ceiling, this time within the RSI.
När jag skrev, indexet följer kl 43.18, however it is fast approaching a resistance of 44.20, which would need to be overcome if litecoin were to move higher.
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