XRP is having one of its surges at the time of writing. It climbed to its highest level in the last three years and has since held up around it.
The crypto market is bullish mainly during the current intraday session, with many assets breaking out. Algorand had one of its biggest surges a few hours ago. It opened trading at $0.32 and surged after rebounding from a brief decline. It climbed as buying pressure increased, breaking the $0.40 barrier and peaking at $0.45. It had an over 400% increase in trading volume over the 24 hours.
Hedera sees a similar increase, surging from $0.144. The asset revisited its seven-day high at $0.170, breaking and peaking at $0.180 at the time of writing. The uptick is ongoing, and HBAR may register a new high before the end of the day. Nonetheless, it is up by over 24%.
The global cryptocurrency market cap is slightly up amidst the growing bullish sentiment. It peaked at $3.41 trillion, but trading volume dropped by over 10%.
Nonetheless, some assets in the top 10 saw notable volatility over the last four days. Let’s examine them.
XRP/USD
XRP started the day at $1.54 but slightly dropped. Buying volume increased, and prices shot up in response. It broke above the $1.70 barrier and edged closer to the $1.80 barrier but faced massive rejection at $1.77. The bulls continue to hold prices at this level, and the asset is up by over 14%.
Its market cap surpassed $97 billion, and XRP climbed in the market cap rank. At the time of writing, the altcoin is the fifth-largest cryptocurrency.
The asset had a buildup to the latest climb two days when it started trading at $1.39 but dropped to a low $1.35 before rebounding. XRP surged above $1.50 but failed to hold this fundamental level. Nonetheless, the surge continued the next day, breaking the barrier and edging closer to $1.60.
The indicators remain green despite the ongoing trend. The moving average convergence divergence prints buy signals as the 12-day EMA hits a new high. It recovered from the previous descent and showed no signs of halting its trajectory. The same trend is present in the 50-day moving average.
XRP latest surge spread fear of minor corrections. It currently trades with the Bollinger bands. However, it tested the upper band a few hours ago. Previous price movements suggest a small decline is almost imminent, as it lost over 5% in earlier events.
At the time of writing, the relative strength index prints bearish signals. XRP is at 88, indicating that it is overbought and is due for corrections. However, it continued above 70 since it broke out on Nov. 11. The trend may continue.
DOGE/USD
The Bollinger bands on the one-day chart are tightening as the apex memecoin experiences less volatility. It has seen fewer price movements since it attempted $0.48. Nonetheless, it has erased Monday’s action, which saw it lose over 8%. It dipped to $0.36 the next day before rebounding.
Wednesday marked the end of the declines, as the asset gained almost 4% and reclaimed the $0.40 level during the session. The next day was a doji, and the altcoin failed to register any significant price change as a doji represents trading actions.
Dogecoin edged closer to $0.45 a few hours ago. It opened trading at $0.40 and surged to a high of $0.43 before retracing. Amidst slight selling pressure, it is up by almost 6%. The current intraday session marks the third green of the week, and indicators are responding accordingly.
The asset trades within the Bollinger band despite its tightening. It maintains movement between the upper and middle bands. Nonetheless, momentum is yet up as trading volume is small compared to the previous surges. Trading volume increased by over 12%.
The relative strength index shows growing bullish sentiment. Buying pressure is gradually increasing, and the metric is at b70. The moving average convergence divergence shows the 12-day EMA halting its decline.
ADA/USD
A look at the one-day chart shows Cardano is bullish for most of the week. The session had a bad start, dipping from a high of $1.07 to a low of $0.92 on Monday. It dipped lower the next day, losing the $0.90 support before rebounding.
The asset gained over 5% on Tuesday as it reclaimed the $1 mark. It continued upwards, edging closer to $1.10. ADA slowed the next day as it failed to register any significant price change.
