Skip to main content

Biggest Movers: XRP Rebounds on Friday, Nearing Recent Highs 

Xrp was up by nearly 10% on Friday, as the token moved closer to a recent four-month high. The move comes as consumer sentiment data in the United States came in at 58.6, which is higher than August’s reading of 58.2. UNUS SED LEO was also in the green, climbing by as much as 12% in today’s session.

XRP

XRP was up by over 10% in today’s session, as prices moved closer towards a multi-month high.

Following a low of $0.4285 on Thursday, XRP/USD rallied to an intraday peak of $0.503 earlier in the day.

The move saw the token formerly known as ripple near last week’s high of $0.558, which was the strongest point since May.

As can be seen from the chart, earlier gains have somewhat eased, as the relative strength index (RSI) collided with a ceiling.

The index is currently tracking at 63.81, which is marginally lower than the aforementioned resistance point of 65.00.

Should XRP bulls attempt to recapture last week’s high, then a breakout of the RSI ceiling will need to take place.

UNUS SED LEO (LEO)

Another notable mover in today’s session was UNUS SED LEO (LEO), which trading by as much as 12% higher.

LEO/USD raced to an intraday peak of $4.69 on Friday, which comes less than a day after hitting a low of $4.18.

Today’s rally comes as LEO bounces from a key support point of $4.05. The token is now moving close to a ceiling of $4.80.

In addition to bouncing off the price floor, another reason for the rally was the 14-day RSI breaking out of a ceiling of its own.

The index moved past its resistance of 48.90, and as of writing, is tracking at a mark of 50.96.

Should we see LEO collide with the $4.80 point, then it is likely that traders will move to secure gains, leading to a decline in prices.

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

Do you expect UNUS SED LEO to climb and hit $4.80 this weekend? Let us know your thoughts in the comments.



from Bitcoin News https://ift.tt/8Nyj4cn
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

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more