Biggest Movers: XRP, MATIC Move to Multi-Week Highs on Wednesday

XRP was a giant mover on Wednesday, regardless of cryptocurrency markets principally consolidating in right this moment’s session. Traders have moved to safe latest positive factors, forward of September’s Federal Reserve rate of interest determination. Polygon was additionally within the inexperienced, hitting a two-week excessive within the course of.

XRP

XRP, previously ripple, was a notable gainer in right this moment’s session, because the token raced to a multi-week excessive.

Following a low of $0.5092 on Tuesday, XRP/USD raced to an intraday peak at $0.5233 earlier within the day.

As a results of the surge in worth, XRP climbed to its highest level since August 31, when worth peaked at $0.5285.

Looking on the chart, the transfer got here because the relative power index (RSI) broke freed from a ceiling at 48.00.

At the time of writing, the index is monitoring at 50.66, with bulls presumably concentrating on a ceiling at 58.00.

In the occasion merchants attain this goal, there’s a robust likelihood XRP will transfer above $0.5500.

Polygon (MATIC)

In addition to XRP, polygon (MATIC) additionally surged to a multi-week excessive on Wednesday, regardless of market uncertainty forward of the Fed announcement.

MATIC/USD peaked at $0.5486 earlier in right this moment’s session, after rebounding from a low of $0.536 the day earlier than.

The transfer pushed polygon to its strongest stage since September 8, when the token reached a excessive of $0.5586.

Earlier positive factors have since pale, and this seems to be because of the RSI failing to interrupt out of its ceiling on the 49.00 mark.

Currently, worth power sits at 47.34, nevertheless momentum stays largely bullish, forward of a possible shifting common crossover.

The 10-day (purple) and 25-day (blue) development strains are on the cusp of an upwards cross, which may set off a contemporary worth surge.

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Could polygon hit $0.6000 earlier than the top of the month? Let us know your ideas within the feedback.