XRP, ATOM Rebound From Recent Declines – Market Updates Bitcoin News

Xrp rebounded from recent drops in price on Friday, as the token surged by nearly 10% in today’s session. Cosmos, which snapped its four-day losing streak, was also a noteworthy gainer. Global cryptocurrency market caps were up almost 5% at the time of writing, which was a positive sign overall.

XRP was one of today’s big gainers, as prices of the token rose by nearly 10% earlier in today’s session.

After falling to $0.4380 on Thursday morning, the intraday low was $0.5117.

Yesterday’s drop saw the token slip to a ten-day low, which was marginally below a floor of $0.4460.

XRP/USD – Daily Chart

As I write, XRP trades at its highest price since Monday’s high, when prices were higher than a crucial resistance level of $0.5280.

Looking at the chart, today’s surge comes as the 14-day relative strength index (RSI) rose beyond its own ceiling at 57.00.

The index currently tracks at 58.07 with bulls aiming for a higher resistance of 60.

Cosmos (ATOM)

Cosmos (ATOM), another notable gainer Friday was the recovery of the token from its four-day losing streak.

The world’s twenty-second largest cryptocurrency climbed to a high of $12.24 earlier in the day.

Friday’s peak saw ATOM/USD almost 12% higher than the low from the previous day of $10.80.

ATOM/USD – Daily Chart

As a result of Thursday’s drop, ATOM fell below its floor at the $11.90 point, however bulls reentered the market at this point, as this typically has happened at this mark.

The 10-day (red-colored) moving average is close to its 25 day (blue), which may trigger an upwards crossover.

The resistance level of 43.00 is nearing the RSI as of this writing. This could prove to be a major obstacle for bulls seeking to get into the market.

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Are the cosmos on track to reach $13.00 by this weekend? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. He has previously been a broker director and an educator in retail trading. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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