Two cryptocurrencies, Polygon (MATIC) and XRP, exhibited bullish trends on Wednesday, making significant strides in a largely consolidating market.
Polygon (MATIC) reached a multi-week high of $0.5937, its highest point since late August. This surge pushed the relative strength index (RSI) over 62.00. The rise in MATIC's value could be attributed to a crossover between the 10-day and 25-day moving averages, which is often seen as a bullish signal by traders.
On the same day, XRP, known as the world's fifth-largest cryptocurrency, showed notable volatility. The digital currency strived to break through a key resistance level, reaching an intraday high of $0.5449. However, XRP's RSI took a downturn, falling below the 62.00 mark. This shift in RSI may indicate potential future price movements for XRP.
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