The token reached a new 4-month high on Friday. In spite of the volatility in markets, the token that was once known as ripple rose by more than 50% over the past seven days. Cronos, which rose by almost 15% today was another notable player.
On Friday, XRP rose for the second straight session. The token reached an all-time high of four months.
After dropping to $0.3398 at the beginning of this week, XRP/USD climbed to an intraday high of $0.5523 today.
As a result of today’s surge, which saw the price climb by over 10%, XRP climbed to its highest point since May 9.
As you can see, the movement comes just as the token passed its $0.5000 long-term maximum. The 14-day relative strength indicator (RSI), reached a high.
The index currently tracks at 72.57 as of this writing. This is the highest point it has been since August 2021.
XRP moved lower from its earlier highs. This is because previous bulls have appeared to have liquidated positions, securing profits in the process.
If bears view this as an opportunity for reentry into the market, then we may see XRP reverse its course.
Cronos (CRO)
Cronos (CRO) was another notable gainer in today’s session, as the token rose past a key resistance level.
The CRO/USD soared to $0.1226 Friday. This was a significant increase in prices that surpassed their previous ceiling of $0.1145.
Today’s peak is the strongest point that cronos has hit in the past ten days, pushing CRO close to a ceiling of $0.1260.
The RSI indicator also showed a break of the ceiling at 50.50, which was in addition to breaking the resistance of $0.1145.
You can see that the 10-day (red-colored) moving average is also closing in on the 25-day counterpart (blue), as shown in the chart. This could indicate an upwards crossover.
Overall, trading volume for the token has increased by nearly 14% compared to the week before.
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Are we likely to see the momentum build in crypto markets this weekend? Please share your views with us in the comments.
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