Toncoin (TON) Surges by 10% as Price Reaches Strongest Point Since May
Toncoin (TON) experienced a significant increase in value, rising by as much as 10% in today’s session. The token reached an intraday peak of $1.95 after hitting a low of $1.74 the previous day. This surge has propelled toncoin to its highest point since May 24, when the price exceeded $2.00.
- The 14-day relative strength index (RSI) rebounded at 75.00, indicating a potential bullish trend.
- Despite being overbought, toncoin continues to rise, suggesting a possible bear trap in the near future.
XRP (Formerly Ripple) Drops Below Key Support Point
XRP, formerly known as Ripple, experienced a slight decline as the token fell below a crucial support level. XRP/USD reached a low of $0.4886 after reaching a high of $0.5081 the day before. This downward trend is a result of bears pushing the price below the $0.5100 floor, causing momentum to decrease.
- Since the ripple ruling, XRP has mostly moved downwards, with the RSI currently at a bearish level of 29.00.
- If the RSI holds at this level, there is a possibility of a reversal next week.
Hot Take: Both toncoin and XRP have experienced significant price movements recently. While toncoin’s surge suggests a bullish trend, caution is advised as a potential bear trap may be on the horizon. XRP, on the other hand, has been on a downward trajectory since the ripple ruling, but a potential reversal could occur if the RSI holds at its current level. Crypto investors should closely monitor these tokens for further developments.
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