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XRP Nears 5-Month High to Start the Weekend – Market Updates Bitcoin News


Xrp, the token formerly known as ripple, rallied near a five-month high on Saturday, despite the red wave currently sweeping through the markets. The token has been trading slightly above the $0.525 ceiling, as the bulls attempt to recapture the recent highs. Cosmos is also higher, close to breaking through a key resistance point.

XRP surged to a five-month high earlier in the week, although the crypto market was mostly trading lower on Saturday.

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

This rise has seen the token break out of a key resistance point of $0.525, rising for the sixth day in a row in the process.

XRP/USD – Daily Chart

Looking at the chart, since that day’s previous high the gains have somewhat abated and as of writing, the price is trading at $0.5184.

The drop took place when the bulls previously opted to secure profits and closed their positions instead of holding. XRP Enter an area of ​​uncertainty.

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

Cosmos (ATOM)

Cosmos (ATOM) is also in 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 swinging as low as $12.70.

This week, cosmos has mostly been consolidating, trading between $12.00 and $13.15, however the bulls have now risen beyond this point today.

ATOM/USD – Daily Chart

As can be seen from the chart, the RSI is currently tracking at 48.49, slightly below the 50.00 ceiling.

If this ceiling is broken, ATOM/USD, which is the world’s 21st largest crypto token, is likely to climb above the $13.15 resistance point.

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Could we see the universe break this resistance this weekend? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings an eclectic perspective to market analysis, formerly a brokerage director and educator in retail trading. Currently, he works as a commentator on various asset classes, including Crypto, Stocks and FX.




Image credits: Shutterstock, Pixabay, Wiki Commons

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