Xrp, the token formerly known as ripple, surged near a five-month high on Saturday, despite the current red wave sweeping through the markets. The token was trading marginally above a top of $0.525 as the bulls attempted to recapture recent highs. Cosmos also rallied, approaching the breakout of a key resistance point.
XRP surged towards a five-month high to start the weekend, despite crypto markets trading mostly lower on Saturday.
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 low.
This rise saw the token marginally break out of a key resistance point of $0.525, rising for a sixth day in a row in the process.
Looking at the chart, since the previous peak of the day, gains have tapered off a bit and at time of writing prices are trading at $0.5184.
The decline comes as previous bulls chose to lock in profits and close their positions rather than hold as XRP entered an area of uncertainty.
One of these points was the 67.45 high on the 14-day Relative Strength Index (RSI), which is the highest point XRP has reached since September 26.
Cosmos (ATOM) was also in the green on Saturday, hitting a major resistance point in the process.
ATOM/USD rose to an intraday high of $13.33 to start the weekend, a day after hovering around a low of $12.70.
This week the cosmos has mostly consolidated trading between $12.00 and $13.15, however the bulls have now moved to rally beyond this point today.
As can be seen on the chart, the RSI is now sitting at 48.49, which is marginally below the 50.00 high.
If this ceiling is broken, ATOM/USD, which is the 21st largest crypto token in the world, will likely break above the resistance point of $13.15.
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Could we see the cosmos break through this resistance point this weekend? Let us know your thoughts in the comments.
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