XRP, ATOM Rebound From Recent Declines – Market Updates Bitcoin News

Xrp rebounded from recent drops in price on Friday, as the token surged by nearly 10% in today’s session. Cosmos was another notable gainer, as it snapped a four-day losing streak. Overall, cryptocurrency markets were mostly higher, with the global market cap up nearly 5% as of writing.

XRP was one of today’s big gainers, as prices of the token rose by nearly 10% earlier in today’s session.

Following a low of $0.4380 on Thursday, XRP/USD raced to an intraday peak of $0.5117 during the day.

Yesterday’s drop saw the token slip to a ten-day low, which was marginally below a floor of $0.4460.

As of writing, XRP is now trading at its highest point since Monday, when prices were above a key resistance point of $0.5280.

Looking at the chart, today’s surge comes as the 14-day relative strength index (RSI) rose beyond its own ceiling at 57.00.

Currently, the index is tracking at 58.07, with bulls seemingly targeting a higher resistance of 60.00.

Cosmos (ATOM)

Cosmos (ATOM) was another notable gainer on Friday, as the token rebounded from a four-day losing streak.

The world’s twenty-second largest cryptocurrency climbed to a high of $12.24 earlier in the day.

Friday’s peak saw ATOM/USD almost 12% higher than the low from the previous day of $10.80.

As a result of Thursday’s drop, ATOM fell below its floor at the $11.90 point, however bulls reentered the market at this point, as this typically has happened at this mark.

The 10-day (red) moving average is now nearing its 25-day (blue) counterpart, which could trigger a potential upwards crossover.

As of writing, the RSI is moving closer to a resistance of 43.00, which could be the main hurdle for potential bulls looking to enter the market.

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

Could cosmos hit $13.00 this coming 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.