Biggest Movers: XRP Nears 5-Month High to Start the Weekend

Biggest Movers: XRP Nears 5-Month High to Start the Weekend

Xrp, the token formerly known as ripple, rose close to a five-month high on Saturday, despite the current red wave sweeping through markets. The token was trading marginally above a ceiling of $0.525, as bulls attempted to recapture recent highs. Cosmos was also higher, nearing a breakout of a key resistance point. XRP

XRP surged towards a five-month high to start the weekend, despite crypto markets trading mostly lower on Saturday.

Following a low of $0.4855 in yesterday’s session, XRP/USD rose to a high of $0.5279 less than 24-hours after the previous bottom.

This surge saw the token marginally break out of a key resistance point of $0.525, climbing for a sixth straight day in the process. XRP/USD – Daily Chart

Looking at the chart, since the day’s previous peak, gains have somewhat eased, and as of writing prices are trading at $0.5184.

The decline comes as earlier bulls opted to secure gains, and close their positions as opposed to holding on as XRP entered an area of uncertainty.

One of these points was the ceiling of 67.45 on the 14-day relative strength index (RSI), which is the highest point XRP has hit since September 26. Cosmos (ATOM)

Cosmos (ATOM) was also in the green on Saturday, colliding with a major point of resistance in the process.

ATOM/USD climbed to an intraday high of $13.33 to start the weekend, a day after hovering at a low of $12.70.

This week, cosmos has mostly consolidated, trading between $12.00 and $13.15, however bulls have now moved to surge beyond this point today. ATOM/USD – Daily Chart

As can be seen from the chart, the RSI is now tracking at 48.49, which is marginally below a ceiling of 50.00.

Should this ceiling be broken, ATOM/USD, which is the world’s twenty-first largest crypto token, will likely climb above the $13.15 resistance point.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, atom, Cosmos, Cryptocurrency, XRP

Could we see cosmos break this resistance point this weekend? Let us know your thoughts in the comments. Eliman Dambell

Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC, ETH Extend Recent Declines on Saturday MARKET UPDATES | 11 hours ago Gold and Silver Prices Slide Lower Following US Jobs Report — Analyst Says Data Suggests "Market Bottom Is in Place" MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBitcoin, Ethereum Technical Analysis: BTC, ETH Extend Recent Declines on Saturday Next articleMt Gox Saga Nears End of the Road — Creditors Required to Register With Exchanges, Bitstamp Selected by Trustee Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItBill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments

Russia’s recently revised bill “On Digital Currency” limits crypto purchases for non-qualified investors while providing legal ground for some cryptocurrency payments, according to local media. The draft law, proposed by the Russian finance ministry, also introduces strict requirements for platforms ... read more.Privacy-Centric Monero Plans for July Hard Fork, Plans Include Ring Signature, Bulletproof Upgrade Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method Survey: Adoption in Argentina Grows, With 12 out of 100 Adults Having Invested in Crypto Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin