Although the cryptocurrency markets opened the weekend lower than usual, XRP managed to ride the red wave and rise by up to 7%. ANC and LUNA were also less than 10%.
Ripple (XRP).
XRP rose to its highest level in almost one month on Saturday, as the world’s sixth-largest cryptocurrency was today’s big gainer.
The intraday peak of $0.846 for XRP/USD was reached to begin the weekend. It is just a fraction below $0.850, its long-term resistance.
XRP trades 6.4% higher as of this writing. The earlier gains have eased, probably due to traders closing down their positions when we approach the resistance level.
Looking at the chart, today’s surge has seen the 14-day RSI climb to a ceiling of 54, its highest level since February 19, which is likely another reason why bulls liquidated earlier positions.
The next target price will probably be $0.90.
Anchor Protocol (ANC).
The last week has seen ANC suffer a severe setback, as the cryptocurrency fell by close to 50% within the span of seven days.
This continued as ANC/USD fell to $3.28 intraday, after hitting highs of $4.00 just 48 hours prior.
As of today’s writing, ANC was down 9.5%. Prices appear to be looking to stabilize the situation and ease the pain.
This floor may be $3.15, as shown in the chart. It was reached last February 24, while ANC was on its way to an unprecedented high of $6.20.
In addition to this, the 14-day RSI is tracking at 47.94, which is the lowest price strength has resided at since Valentine’s Day.
Were bulls likely to enter the market this weekend, despite oversold prices? Please share your views with us in the comments.
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