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, 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.
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), 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.
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.
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