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Biggest Movers: SOL Snaps Losing Streak as XRP Climbs 5% Higher 

SOL Snaps Losing Streak, as XRP Climbs 5% Higher 

Solana ended a three-day losing streak on Wednesday, as the token moved back above the $26.00 mark. The decline came following Friday’s move above $32.00, which took the price to an eight-month high. XRP has also rebounded today, and looks to be heading for its recent high over $0.9400.

Solana (SOL)

Solana (SOL) was one of Wednesday’s notable movers, as the token ended a three-day losing streak.

Following a low of $25.12 on Tuesday, SOL/USD raced to an intraday high of $26.57 earlier in today’s session.

The move is the first time solana has trended higher since consolidating a recent eight-month high.

From the chart, today’s rebound seems to have occurred as a result of the relative strength index (RSI) bouncing from a floor at 66.00

At the time of writing, the index is at 69.40, with an upcoming resistance point of 71.00 a possible destination for bulls.

Should this ceiling be broken, there is a good chance that solana could head back towards $30.00.

XRP

Sentiment remained largely bullish in XRP, formerly ripple, as traders once again attempted to push prices above $0.8200.

XRP/USD jumped to a peak of $0.8155 earlier in today’s session, before slipping to a current point at $0.7999.

Since climbing to $0.9479 last week, volatility in the token has skyrocketed, with both new buyers, and profit takers, battling for positions.

Market uncertainty has marginally faded, as a result of the RSI breaking out of a ceiling at 73.00. It is now tracking at 75.07.

Despite the next visible point of resistance being at 89.00, price is already overbought, which could lead to a prolonged sell-off.

As of writing, XRP remains largely unchanged at the $0.8000 mark.

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Could XRP hit $0.9000 before the end of July? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/sX1mxtN
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