Xrp rose nearly 10% on Friday as the coin neared its most recent four-month high. The move came as the US consumer confidence index came in at 58.6, up from 58.2 in August. UNUS SED LEO is also in the lead, up 12% in today’s trade.
XRP is up more than 10% in today’s session as prices approach multi-month highs.
After hitting a low of $0.4285 on Thursday, XRP/USD rallied to an intraday high $0.503 earlier in the day.
The move sent the coin rippling around last week’s high of $0.558, its highest since May.
As you can see from the chart, earlier gains have slowed as the Relative Strength Index (RSI) hit its ceiling.
The index is currently tracking at 63.81, just below the aforementioned resistance point of 65.00.
If XRP bulls attempt to recapture last week’s highs, a break above the RSI ceiling will be required.
UNUS SED LEO (LEO)
Another notable driver in today’s trade was UNUS SED LEO (LEO), which was trading up 12%.
LEO/USD hit an intraday high of $4.69 on Friday, less than a day away from hitting a low of $4.18.
Today’s rally comes as LEO bounces off key support at $4.05. The coin is now approaching the $4.80 cap.
Besides bouncing off the price floor, another reason for the rally was that the 14-day RSI broke above its own ceiling.
The index broke above the 48.90 resistance level, and as of press time, the index is at the 50.96 mark.
If we see LEO colliding with the $4.80 point, traders are likely to act to secure gains, leading to a drop in price.
See also After South Koreans use cryptocurrencies to evade taxes, tax agency vows to work hard – Tax Bitcoin News
Sign up for your email here to get weekly price analysis updates delivered to your inbox:
Do you expect UNUS SED LEO to climb to $4.80 this weekend? Let us know your thoughts in the comments.
Image Source: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for reference only. It is not a direct offer or invitation to offer, nor is it a recommendation or endorsement of any product, service or company. 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 or related to the use of or reliance on any content, goods or services mentioned herein.