On Thursday, Xrp, formerly known as ripple, increased for a fifth straight session as the token approached a two-week high. The next observable ceiling for the relative strength index (RSI) is at the point of 61.00 after it passed through a crucial resistance level at 55.00. Cardano (ADA) also increased significantly today, reaching an 11-day high. ADA/USD increased from Wednesday’s low of $0.3658 to an intraday high of $0.3798 earlier today. Cardano has increased overall by as much as 7% over the last week, rising as the 10-day (red) moving average picks up speed. The RSI will need to break out of a ceiling at 47.00 for this to occur. News Sorce

Bitcoin (BTC) tumbled back below $27,000 on Thursday afternoon, reversing its advance from a day ago. Over $20 million of BTC futures were liquidated in the past four hours, with 87% of them being long positions. The CoinDesk Market Index (CMI) was down 2.2% on Thursday. Equity markets closed higher, with a late rally pulling the Nasdaq higher by 1.5%, the S&P 500 by 0.95%, and the Dow Jones Industrial Average by 0.35%. Alex Tapscott, managing director of the digital asset group at Ninepoint Partners, said BTC has recently performed more like a technology stock than a pure store of value. Ninepoint Partners’ Tapscott believes that the debt ceiling debate could boost “safe-haven” assets such as gold and bitcoin, but he is not convinced that BTC’s price will go up in the event of a government default. Noelle Acheson points out that if the debt ceiling is raised, money will move out of cash and risk assets into US government bonds, which could be unfavorable for bitcoin and gold. Messari Research Analyst Sami Kassab suggests that bitcoin has consistently entered a bull market within 12-18 months prior to each halving event. Charlie Morris, chief investment officer at ByteTree Asset Management, said the halving likely isn’t fully priced in. News Sorce