Biggest Movers: XRP Rebounds on Friday, Nearing Recent Highs 

Must read

Kazakhstan Presses On With Restrictive Bitcoin Mining Regulation

A bill that would create new licensing and electricity purchase requirements has been sent on to a third vote.A bill that would create new...

These Six Charts Show How Bitcoin Mining Is Enduring The Bear Market

Bitcoin mining companies continue struggling to survive the ongoing bear market. Dreams of outperforming bitcoin as a public mining company are long gone. Bankruptcies...

Navigating The Different CoinJoin Implementations

This is an opinion editorial by Thibaud Maréchal, a contributor to privacy-focused Bitcoin wallet project Wasabi Wallet.“Divide and conquer” is a battle-tested military strategy...

Nigeria Pushes CBDC Usage With New ATM Cash Withdrawal Limits

The Nigerian government has imposed new restrictions on ATM withdrawals in an effort to increase usage of the eNaira.The Nigerian government has imposed new...

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.

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.

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.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More articles

Latest article

Kazakhstan Presses On With Restrictive Bitcoin Mining Regulation

A bill that would create new licensing and electricity purchase requirements has been sent on to a third vote.A bill that would create new...

These Six Charts Show How Bitcoin Mining Is Enduring The Bear Market

Bitcoin mining companies continue struggling to survive the ongoing bear market. Dreams of outperforming bitcoin as a public mining company are long gone. Bankruptcies...

Navigating The Different CoinJoin Implementations

This is an opinion editorial by Thibaud Maréchal, a contributor to privacy-focused Bitcoin wallet project Wasabi Wallet.“Divide and conquer” is a battle-tested military strategy...

Nigeria Pushes CBDC Usage With New ATM Cash Withdrawal Limits

The Nigerian government has imposed new restrictions on ATM withdrawals in an effort to increase usage of the eNaira.The Nigerian government has imposed new...

Proof-Of-Work Is The Only Viable Form Of Consensus

This is an opinion editorial by Pierre Gildenhuys, the co-founder of a Hong Kong-based social environment tech startup.Proof-of-work is the consensus mechanism that the...