Uniswap rose to a one-week high in today’s session, as crypto markets seemed to have settled following recent turbulence. The last seven days were filled with increased levels of fear, uncertainty, and doubt in the marketplace, as participants moved to shelter following the FTX collapse. Xrp was another notable mover, climbing by over 10% on Nov. 15.
Uniswap (UNI) rose for a third straight session on Nov. 15, pushing the token to a one-week high in the process.
UNI/USD surged to an intraday high of $6.36 in today’s session, less than a day after trading at a low of $5.83.
Today’s rally, which saw prices move close to a key resistance level of $6.45, has seen UNI trade at its highest point since last Tuesday.
As can be seen from the chart, another ceiling was hit during today’s surge, in the form of the relative strength index (RSI).
The index collided with its resistance of 50.00, which could potentially prevent any further surges from the token.
In order for UNI to move above $6.45, price strength will first need to climb above the 50.00 mark.
XRP was another one of Tuesday’s big gainers, as the token rose by over 10%.
Following a low of $0.3404 to start the week, XRP/USD surged to a peak of $0.3907 earlier today.
This rise in price sees the token move higher for a second consecutive day, and closer to a key resistance level.
Looking at the chart, this ceiling is the $0.40 mark which was last hit during last Wednesday’s sell-off.
Despite Tuesday’s mini resurgence, XRP/USD is down by nearly 12% in the last seven days.
In order to change this sentiment, bulls will need to force a breakout of the upcoming ceiling at 44.30 on the RSI.
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Do you expect xrp to move above $0.40 in the coming days? 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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