Xrp rallied to a three-week high on Friday, breaking out of a long-term resistance level in the process. The token rose to its highest level since early November, as prices surged for a fifth straight session. Dogecoin also hit a multi-week high, rising by nearly 10% today.
XRP, formerly known as ripple, rose for a fifth straight session on Friday, with the token rallying to a three-week high.
Following a low of $0.3792 on Thursday, XRP/USD rose to an intraday high of $0.4169 earlier today.
The move saw XRP climb to its highest point since November 8, when the token was trading at $0.4667.
Looking at the chart, bullish momentum intensified once the token broke out of a ceiling at $0.4050.
In addition to this, the relative strength index (RSI) of 14-days has also surged, and is now hovering marginally below a resistance at the 50.00 level.
As a result, XRP has moved lower, with price trading at $0.4039 as of writing.
Dogecoin (DOGE) was another notable mover in today’s session, as the token also rallied to a multi-week high.
DOGE/USD rose to a peak of $0.09099, less than a day after prices were trading at a bottom of $0.08089.
This surge in price has pushed the meme coin to its strongest point since November 14, and comes following a breakout of its $0.0870 ceiling.
Prices have since slipped from earlier highs, which, like XRP above, comes after a collision with a wall on the RSI indicator.
As of writing, the index is tracking at 51.22, which is marginally below a ceiling of 51.50.
Currently, dogecoin is trading at $0.08749, which is roughly 8% higher than yesterday’s low.
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Do you expect dogecoin to extend recent gains throughout the weekend? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
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