Although markets are currently in red, Xrp (formerly ripple) rose near a 5-month high Saturday. Bulls were trying to recover recent highs and the token was slightly above $0.525. Cosmos also traded higher as it was close to a breakthrough of key resistance points.
Although crypto markets were trading lower on Saturday, XRP has risen to a five month high.
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 spike saw token slightly break through a resistance point at $0.525, climbing six consecutive days.
Looking at the chart, since the day’s previous peak, gains have somewhat eased, and as of writing prices are trading at $0.5184.
This is because earlier bulls chose to close their positions and secure gains rather than holding onto as XRP moved into an uncertain area.
The ceiling at 67.45 for the 14-day relative strengths index (RSI) was one of the points. This is the highest point XRP reached since September 26th.
Cosmos (ATOM), was also present in the green, and collided with a significant point of resistance during the course.
After hovering around $12.70, ATOM/USD rose to $13.33 intraday to begin the weekend.
Cosmos traded between $12.00 and $13.15. However, bulls moved beyond this level today.
You can see that the RSI now tracks at 48.49. That is just a little below the maximum 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.
Get weekly price analysis emails sent straight to your inbox by registering your email
Is it possible that the cosmos will break through this resistance this weekend? We’d love to hear your comments.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com is not a provider of investment, tax, legal or accounting advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.