• Crypto asset XRP rose by as much as 5% on Saturday, following declines of a similar amount during yesterday’s session.
• Litecoin (LTC) was also higher to start the weekend, as prices remained close to a multi-week high.
• The move came as bullish momentum increased at the price floor of $0.4250, after bears failed to sustain an earlier breakout.
Overview
This article looks at the biggest crypto movers from Saturday’s trading session, with both XRP and LTC showing signs of strength against the US dollar.
XRP Climbs 5%
The crypto asset XRP rose by as much as 5% on Saturday, following declines of a similar amount during yesterday’s session. This rebound took place as the relative strength index (RSI) moved away from its own support level of 58.00 and towards 60.77, while the 10-day moving average crossed over its 25-day counterpart.
Litecoin Nears Multi-Week High
Litecoin (LTC) was also higher to start the weekend, climbing to an intraday peak of $93.97 – just below a three-week high of $96.11 and close to a resistance level at $94.00. Bullish momentum increased here due to a crossover between the 10-day and 25-day moving averages, while RSI moved marginally above 56.00 – suggesting that further gains could be possible if this level is breached in the coming days.
Crypto Market Cap Falls
Despite these gains for certain tokens, however, overall market sentiment fell on Saturday – with global crypto market cap dropping by 0.51%. This suggests that investors remain hesitant about making larger commitments in this sector despite recent signs of recovery from some assets such as XRP and LTC .
Conclusion
In conclusion then it appears that while some individual tokens are performing better than others in terms of price action right now, overall investor confidence has yet to fully return into this space