Crypto
XRP Breakout Sees Price Surge Past Key Moving Averages
XRP has led the top 10 cryptocurrencies in a rally, surging by as much as 14.21% to $1.40. This is the largest gain among the top 10 assets, outpacing both Bitcoin and Ethereum.
The price action saw XRP close above its 50-day and 200-day exponential moving averages for the first time since August, when a death cross formed. However, the death cross itself has not been reversed, and momentum indicators suggest that the rally is stretched.
Resistance sits at $1.43 and then $1.60, while support is near $1.34, followed by deeper floors at $0.9862. The Treasury's expanded buybacks on September 9 and the Senate's expected return to the Clarity Act on September 15 are scheduled catalysts.