Toncoin was easily one of the biggest movers in crypto markets to start the weekend, as price rose by over 10%. Saturday’s surge comes despite the global market cap mostly trending lower, having fallen by 0.43% as of writing.
Toncoin (TON) was a notable mover in today’s session, as the token rose by as much as 10% on Saturday.
After a low of $1.74 on Friday, TON/USD surged to an intraday peak of $1.95 to start the weekend.
As a result of the move, toncoin climbed to its strongest point since May 24, which was the last time price traded above $2.00.
TON/USD – Daily Chart
Today’s rally comes as the 14-day relative strength index (RSI) rebounded at a floor of 75.00, following a surge above 83.00.
Price strength is deeply overbought, however this has not stopped bulls from continuing to send TON even higher.
This could be a recipe for a bear trap however, with a change in direction almost certainly on the cards in the not too distant future.
XRP, formerly ripple, was in the red to start the weekend, as the token marginally dropped below a key support point.
XRP/USD fell to a bottom at $0.4886 on Saturday, which comes following a peak at $0.5081 the day prior.
This downturn comes as bears pushed price below a price floor of $0.5100 earlier in the week, with momentum continuing to slip since then.
XRP/USD – Daily Chart
Ever since the ripple ruling, which saw XRP price spike to an almost two-year high, the token has mostly moved lower.
The RSI is now tracking around a floor of 29.00, which is in the midst of a bear zone. However, should this level hold firm, there could be a reversal next week.