Biggest Movers: LUNC up 20% on Saturday, XRP Moves Towards 1-Week High

Terra classic rose by as much as 20% in today's session, which comes following a recent bearish streak. Today's rally follows Thursday's drop to a key support point, with bulls using this as an ideal area to reenter. Xrp was also higher, as it moved closer to a long-term resistance level.

Timeline of Terra-luna, Xrp

Terra Classic price has been trading below the crucial 50-day MA levels since its inception until the previous trading day which uplifted the price beyond the levels. Ever since then, the price has been hovering above the pivotal levels, flashing the possibilities of pulling another leg up.

The XRP/USDT pair has been wavering in a sideways rally for the past four months. However, following the April-May bloodbath, this consolidation represents an inverted pennant pattern.

As the SEC and Ripple case continues to drag on, new developments are surfacing week-in and week-out. New anonymous players are joining the lawsuit to restrict the exposure to their respective organizations.

The U.S. Securities and Exchange Commission (SEC) Vs Ripple, XRP case has entered into the much awaited summary Judgement phase. Both parties recently submitted motions regarding the proceedings.

During the European session, the XRP price is up 7.5%, bringing nostalgic price action back to the market. More than 4.3 million unique addresses now hold XRP, Ripple's native token. Despite facing its own set of difficulties and the persistent Crypto Winter that has driven several assets to multi-month lows, the XRP coin has reached this milestone.

Terra Classic [LUNC] is among the more interesting cryptocurrencies that has been in our watch list especially in the first half of September. It has undergone a retracement since then as expected but there are still opportunities around this cryptocurrency.

The LUNC/USDT witnessed a parabolic recovery from late August to early September, which surged it to a record high of the $0.0006 mark. However, such massive growth in a short period is unhealthy for assets.

Since Terra's LUNA collapsed along with its stablecoin, USTD, which lost its peg against the US dollar, the currency has been striving for stability. At the time of writing, Terra (LUNA) is selling at $2.69 with a drop of 7.72% over the last 24hrs.

The price of Ripple (XRP) is in a downtrend as the altcoin drops below the moving average lines. Today, the cryptocurrency value is declining as buyers are unable to keep the price above the moving average lines.

The world's largest crypto exchange Binance earlier announced 1.2% tax burn support for Terra Classic (LUNC) and TerraClassicUSD (USTC) on all on-chain activities. But the community wants tax burn support for off-chain activities such as selling and buying.