Quant moved higher for a second straight session on Saturday, as prices rose by as much as 10%. The move sees the token break out of a key resistance level, with many now expecting a move towards $200. Xrp was also higher, extending recent gains in the process.
Quant (QNT) was up for a second straight day, as prices rose by as much as 10% to start the weekend.
Less than 24 hours after hitting a peak of $179.15, the token surged to an intraday high of $193.75 earlier today.
Today’s move sees QNT/USD break out of its recent resistance point of $185.00, with many now expecting prices to move back to $200.
QNT/USD – Daily Chart
However, earlier gains have somewhat eased, and as of writing, the token is currently trading at $182.97
Looking at the chart, the 14-day relative strength index (RSI) is now tracking at 60.88, after failing to move past a ceiling of 65.00.
Should bulls eventually overcome this obstacle, it is likely that we will see the price move back above $200.00.
Another notable mover on Saturday was XRP, which rose by over 6% to start the weekend.
XRP/USD rose to a high of $0.4668 on Saturday, which follows up from Friday’s low of $0.4418.
The move sees prices bounce from a key support point of $0.4495, moving away from a three-week low in the process.
XRP/USD – Daily Chart
Looking at the chart, the move comes as the 14-day RSI marginally broke out of a resistance level of 49.00.
Currently, the index is tracking at 50.03, which is the highest point price strength has hit since Tuesday, signaling a return of bullish sentiment.
Should bulls continue to maintain upward momentum, we will likely see the token formerly known as ripple moving closer to a ceiling of $0.5000.
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Could xrp surge to $0.5000 before the end of October? Let us know your thoughts in the comments.
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.
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