Biggest Movers: XRP Surges as SEC Drops Lawsuit Against Ripple’s Senior Management

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XRP was a big gainer on Friday, as markets reacted to the SEC’s decision to drop its lawsuit against Ripple’s management team. The commission previously alleged that CEO Brad Garlinghouse and chairman Chris Larsen had violated securities laws. Solana also surged, rising by over 10% today.

XRP

XRP rose to a two-week high on Friday, following a decision by the Securities and Exchange Commission (SEC) to drop its case against Garlinghouse and Larsen.

XRP/USD peaked at $0.5291 earlier in the day, which comes following a low at $0.4831 the day prior.

As a result of today’s high, ripple rose to its highest point since October 5, when price peaked at $0.5325.

Earlier gains have now eased, which comes as the relative strength index (RSI) failed to move beyond a ceiling at 57.00.

At the time of writing, price strength is now tracking at 56.32, with the next visible floor at the 50.00 level.

The 10-day (red) moving average has also begun to trend upwards, increasing chances of an upwards crossover in the upcoming days.

Solana (SOL)

Solana (SOL) surged significantly higher in today’s session, after finally breaking its long-term ceiling at $25.00.

After trading at a bottom of $24.17 on Thursday, SOL/USD jumped to an intraday high of $27.29 earlier today.

Friday’s move is the highest point that solana has hit since July 20, when price peaked at $27.35.

As a result of this strong sentiment, SOL has risen into overbought territory, with the RSI climbing to a current reading of 74.60.

A point of resistance now awaits current bulls at the 75.00 mark, and should they prevail, solana could capture $28.00.

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Will solana bulls begin to take profits this weekend? Let us know your thoughts in the comments.