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. XRP/USD – Daily Chart
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. LEO/USD – Daily Chart
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.
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Do you expect UNUS SED LEO to climb and hit $4.80 this weekend? Let us know your thoughts in the comments. Eliman Dambell
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX. Bitcoin, Ethereum Technical Analysis: BTC, ETH Continue to Consolidate Ahead of US Consumer Sentiment Data MARKET UPDATES | 11 hours ago Biggest Movers: SOL Moves Towards $35.00, XMR Extends Recent Gains MARKET UPDATES | 1 day ago
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