Biggest Moves: ADA, XRP Recover from Recent Losses on Friday

Cardano rallied for the second session in a row on Dec. 23, when the token rose to its highest point since Monday. Overall, cryptocurrency prices were marginally higher at the time of writing, with the global market capitalization currently 0.49% higher. Xrp, formerly known as ripple, also rose, with prices approaching a key resistance level.

Cardano (ADA)

Cardano (ADA) was in the green on Friday as prices rallied for the second session in a row.

ADA/USD reached a high of $0.2623 in today’s session, less than a day after the token traded at $0.2482.

The move sent the token higher towards a resistance level of $0.2685, and it is currently trading at its highest point since Monday.

As can be seen on the chart, Friday’s gains come as the 14-day RSI has approached its own top at 32.00.

The index is currently at 30.18, with the price dipping from the previous highs and trading at $0.2586 at time of writing.

For the bulls to reach the top at the $0.2685 mark, this upcoming top of 32.00 on the RSI must first be broken.

XRPformerly ripple, also rose on Friday as the token extended a recent uptrend, hoping to break out of a key resistance point.

After a low of $0.3424, XRP/USD reached an intraday high of $0.3531 earlier in today’s session.

Today’s high is the strongest point the token has traded since Sunday, when it was at a high of $0.3555.

Despite this recent rise in price, sentiment in XRP it still appears to be bearish, with the 10-day MA (red) extending its cross lower with the 25-day MA (blue).

Adding to this, the 14-day RSI is currently at 39.65, which is close to a 41.00 ceiling.

If the bulls are unable to force a break of this level, we are likely to see XRP once again move lower.

Sign up your email here to receive weekly price analysis updates in your inbox:

Do you expect xrp to break its current resistance of $0.3565 this weekend? Let us know your thoughts in the comments.

image credits: Shutterstock, Pixabay, Wiki Commons