Biggest Movers: XMR Climbs to 6-Month High, TRX up 17% Following News of USDD Stablecoin

TRX was up by over 17% on Thursday, as founder H.E. Justin Sun introduced {that a} new stablecoin, USDD, was going to be launched on the TRON blockchain. XMR was one other large mover right this moment, climbing to its highest level since November.


TRX surged right this moment, as founder H.E. Justin Sun of TRON confirmed {that a} new stablecoin shall be launched on the blockchain.

In a tweet, Sun acknowledged that, “TRON DAO joined arms with main blockchain gamers to launch USDD (Decentralized USD), probably the most decentralized stablecoin in human historical past.”

Do Kwon of Terra additionally welcomed the announcement, with TRX/USD rising to an intraday excessive of $0.07405 on the information.

As of writing, TRX is up 16.54% in right this moment’s session, climbing to its highest level since April 2 in consequence.

Today’s excessive sees costs close to the long-term ceiling of $0.07500, which hasn’t been damaged since March 31, the place the transfer matured to being a false break.

Overall, the ceiling has held agency for many of the 12 months up to now, nevertheless with the momentum of the transferring averages now ascending, we might quickly see an eventual transfer previous this level.

One potential impediment shall be that of the 14-day RSI, which is now monitoring at an eighteen-day excessive of 66.82, which is marginally beneath resistance of 68.

Monero (XMR)

XMR was up by as a lot as 8% in right this moment’s session, as costs rallied to a multi-month excessive, following a second day of positive aspects.

After buying and selling at a low of $253.56 on Wednesday, XMR/USD surged to a peak of $277.14 earlier on right this moment.

Today’s transfer noticed XMR hit its highest level since November 14, when costs have been falling from earlier highs near $300.

As seen on the chart, XMR has now rallied previous its key resistance degree of $273 on account of right this moment’s run, nevertheless there might be one other ceiling in the best way.

This can be that of the 14-day RSI, which is at present residing on the 68.9 degree, which is deeply overbought, and marginally beneath a ceiling of 69.8.

Due to the historic energy of the present worth ceiling, it’s possible that bears have already entered the market, with extra ready within the wings ought to this resistance maintain.

Could we see XMR at $300 earlier than the top of April? Let us know your ideas within the feedback.

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