XRP rebounds on Friday, approaches recent highs – Market Updates Bitcoin News
Xrp was up nearly 10% on Friday as the token moved closer to its recent four-month high. The move comes as US consumer sentiment data 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 rallied over 10% in today’s session as prices moved closer to a multi-month high.
After a low of $0.4285 on Thursday, XRP/USD rallied to an intraday high 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 its strongest point since May.
As can be seen from the chart, earlier gains have been pared somewhat as the relative strength index (RSI) collided with a ceiling.
The index is currently following 63.81, which is marginally lower than the aforementioned resistance point of 65.00.
Should XRP bulls attempt to recapture last week’s high, a breakout of the RSI ceiling must take place.
UNUS SED LEO (LEO)
Another notable mover in today’s session was UNUS SED LEO (LEO), which is trading as much as 12% higher.
LEO/USD rallied to an intraday high of $4.69 on Friday, coming less than a day after hitting a low of $4.18.
Today’s rally comes as LEO bounces off a key support point at $4.05. The token is now moving close to a ceiling of $4.80.
In addition to jumping off the price floor, another reason for the rally was that the 14-day RSI broke out of a ceiling of its own.
The index moved past the resistance at 48.90, and at the time of writing it is following a mark of 50.96.
Should we see LEO collide with the $4.80 point, it is likely that traders will move to lock in gains, leading to a decline in prices.
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Do you expect UNUS SED LEO to climb and reach $4.80 this weekend? Let us know your thoughts in the comments.
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