Solana ended a two-day losing streak on Wednesday, as the token surged by as much as 7% in today’s session. The move came following a two-week low on Tuesday, as markets slipped after recent highs. XRP also edged higher, and currently hovers near a key price floor.
Solana (SOL)
Solana (SOL) recovered from a two-week low on Wednesday, as bulls took advantage of yesterday’s dip in price.
After slipping to a bottom of $22.86 on Tuesday, SOL/USD raced to an intraday high of $24.56 earlier in the day.
The token has mostly traded lower in recent weeks, after surging to an eight-month high above $30.00 on June 14.
Today’s rebound came as the relative strength index (RSI) bounced on a floor at the 52.00 mark.
As of writing, the index is tracking at 57.51, and looks set to be heading for a ceiling at 60.00.
Should it reach this point, there is a strong possibility SOL will be above $25.00.
XRP
XRP, formerly ripple, was trading close to a key support point during today’s session, as price continued to consolidate.
XRP/USD peaked at $0.7141 earlier in today’s session, after slipping to an intraday low of $0.6961 the day prior.
Since surging to $0.9479 earlier this month, XRP has mostly traded between a floor at $0.7000 and ceiling of $0.8200.
Following a brief move below the aforementioned support point, XRP bulls have reentered to push the price higher.
This coincided with price strength finding a stable zone at 57.00, helping increase bullish prospects.
The next target to maintain today’s slight rebound will be to capture the $0.7500 resistance level.
Register your email here to get weekly price analysis updates sent to your inbox:
Could XRP move above $0.7500 before the end of July? Let us know your thoughts in the comments.
#MarketUpdates, #Analysis, #Cryptocurrency, #Ripple, #SOL, #Solana, #XRP