Skip to main content

Biggest Movers: XRP Hits Fresh 4-Month High, Token Climbs 50% This Week

Xrp was once again higher on Friday, as the token hit a 4-month high for a third consecutive session. The token formerly known as ripple has risen by over 50% in the last seven days, despite the current market volatility. Cronos was also a notable mover today, climbing by nearly 15%.

XRP

XRP was higher for a second consecutive session on Friday, as the token moved to a fresh four-month high.

Following a low of $0.3398 to start the week, XRP/USD rose to an intraday peak of $0.5523 earlier 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.

Looking at the chart, the move comes as the token raced past its long-term ceiling of $0.5000, sending the 14-day relative strength index (RSI) to a recent high.

As of writing, the index is currently tracking at 72.57, which is its strongest point since August 2021.

Since earlier highs, XRP has moved lower, as previous bulls appear to have liquidated their positions, securing gains in the process.

Should bears see this as an opportunity to reenter the market, we could see XRP begin to reverse course.

Cronos (CRO)

Cronos (CRO) was another notable gainer in today’s session, as the token rose past a key resistance level.

CRO/USD surged to a high of $0.1226 on Friday, which saw prices move beyond their recent 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.

In addition to the breakout of the recent resistance level of $0.1145, there has also been a breakout of a ceiling of 50.50 on the RSI indicator.

As you can see from the chart, the 10-day (red) moving average also looks to be closing in with its 25-day (blue) counterpart, which could lead to an upwards crossover.

Overall, the token is currently trading nearly 14% higher from the same period last week.

Register your email here to get weekly price analysis updates sent to your inbox:

Will we see momentum in cryptocurrency markets rise this coming weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/tBDGboC
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more