XRP Rises to Two-Week High Despite Bearish Market Sentiment
XRP, the digital currency formerly known as Ripple, has risen for a third straight session on Wednesday, reaching a two-week high despite largely bearish market sentiment. The global market cap is currently trading 1.29% lower, but XRP has managed to climb higher, reaching an intraday high of $0.3952 earlier today. This comes less than 24 hours after trading at a low of $0.3729.
The token has now risen to its highest point since February 21, and is closing in on a ceiling at $0.40. Looking at the daily chart, the relative strength index (RSI) of 14 days marginally broke out of a ceiling at 57.00. As of writing, the index is tracking at 57.98, which is its strongest reading since the start of the year.
Shiba Inu, another digital currency, also climbed higher in today’s session. Despite the overall bearish market sentiment, XRP’s rise suggests that there is still some optimism among investors. The digital currency has faced a number of challenges in recent months, including a lawsuit from the US Securities and Exchange Commission (SEC) alleging that it is an unregistered security.
However, XRP has managed to weather these challenges and continue to rise in value. It remains to be seen whether this trend will continue, but for now, XRP investors have reason to be optimistic.
