XRP And Cardano Finally Make It Back Into Strong Bullish Territories Backed By Strong Sentiments


With the commencement of the weekend, the trading price of XRP (XRP) started to rise. The value of the asset steered in the positive direction, bringing it out of the negative territory.

Although January was a promising month for XRP, it did not turn out to be the same way in February. The value of the asset started to decline and the investors were not able to push its price higher.

The market conditions and the latest updates pertaining to the Silvergate Bank had made things worse for XRP. Finally, the bulls were able to shrug off the negative trend with their strong buying sentiments.

Despite the weekdays being full of declines, the weekend turned out to be full of surges for the asset. The value of the XRP started to move in a positive direction.

Before the rally had kicked in, XRP was witnessing a two-month low. The rally reportedly caused the trading price of XRP to move in the upward direction.

The rebound reportedly moved the asset up to higher trading. The asset’s trading value went all the way up to $0.3795 on that particular day.

Prior to the rebound, the trading value of the asset was at a low of $0.3664. The report shows that as the decline went on prior to the rebound, the asset had hit its lowest level, which was at $0.3477.

A look at the price chart for XRP shows that the asset was able to make it past the floor price of $0.3720. Although it took time for the bulls to make it through the level they were able to do it eventually.

The RSI for XRP had lost its positive track as well. It had started to move in the negative direction. The Investors saw the RSI falling to a low of 43.00 before the bulls launched their buying spree.

They managed to bounce the RSI from the floor level as well. As of now, the RSI is at 43.48 and it may continue elevating if the bulls put enough buying power into the bullish trend.

The RSI may enter the bullish zone and may hit the ceiling level at 45.00.

Cardano (ADA)

Just like XRP, the trading price of ADA was also experiencing a downtrend. No matter how hard the bulls tried, they failed it pushing the trading price of the asset higher.

Finally, the bulls’ sentiments kicked in over the weekend, which reportedly pushed the asset’s price higher. A significant push was recorded, which managed to push the asset’s trading price higher.

The strong confidence and buying sentiments of the bulls were able to push ADA’s trading price higher from a multi-month low.

Before the rally kicked in, the trading price of ADA was at a low of $0.3367. As the bulls started to buy ADA on a large scale, the price ended up rebounding from the lower level.

This phenomenon was witnessed for the asset as the weekend began.

With a selling spree being witnessed for the asset prior to the rebound, the price of ADA had fallen to the January 11 low level.

At the time of writing, the trading price of ADA has moved up by 1.3%. Just a few trading sessions earlier, the value of the asset had hit a support level. However, with the bullish sentiments kicking in, its price has risen over the support mark.

At the time of writing, ADA’s trading price is at a high of $0.3418. The price of the asset has managed to surge past the floor price of $0.3400.

ADA’s RSI is moving and has started to demonstrate recovery. It has started to move higher from the lower level. At the time of writing, the RSI is at 38.76.

As the buying momentum keeps on building, the RSI for ADA may continue getting pushed higher.

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