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

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.

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.

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)

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.

ATOM/USD – Daily Chart

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.

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Is it possible that the cosmos will break through this resistance this weekend? We’d love to hear your comments.

Eliman Dambell

Eliman is a market analyst with a diverse perspective. In his past, Eliman was formerly a broker director and taught retail trading. He is currently a commentator on various asset classes including Crypto, Stocks, and FX.

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