Friday's Xrp session was even more successful than usual. The token reached a 4-month high, marking the third consecutive session of record-breaking trading. Despite market volatility, the token that was once known as ripple has increased by more than 50% over the past seven days. Cronos, which rose by almost 15 %. was another notable mover today.
XRP rose for the second consecutive session, with the token moving to a new four-month high.
After a week-opening low of $0.3398, XRP/USD climbed to an intraday high of $0.5523 today.
Today's price surge saw XRP rise by more than 10%. XRP reached its highest level since May 9.
The chart shows that the token surged past its $0.5000 long-term ceiling, pushing the relative strength index (RSI), to a new high.
The index currently tracks at 72.57 as of writing. This is the highest point since August 2021.
XRP has fallen from its previous highs. Previous bulls seem to have sold their positions and made gains.
If bears view this as an opportunity for reentry into the market, then we may see XRP reverse its course.
Cronos (CRO), another notable gainer, was achieved today as the token climbed past a key resistance level.
CRO/USD soared to $0.1226 Friday, pushing prices beyond their previous ceiling of $0.1145.
Today's peak marks the highest point that Cronos has reached in the last ten days. This pushes CRO closer to $0.1260.
The RSI indicator also showed a break of the ceiling at 50.50, which was in addition to the recent resistance of $0.1145.
The chart shows that the 10-day (red-colored) moving average is closing in on its 25-day counterpart (blue), which could result in an upwards crossover.
The token trades at nearly 14% above the previous week.
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Are we likely to see the momentum in cryptocurrency markets increase this weekend? We'd love to hear your comments.
Frequently Asked Questions
Is buying gold a good way to save money for retirement?
While buying gold as an investment may seem unattractive at first glance it becomes worth the effort when you consider how much gold is consumed worldwide each year.
Physical bullion is the most popular method of investing in gold. There are other ways to invest gold. You should research all options thoroughly before making a decision on which option you prefer.
If you don’t have the funds to invest in safe places, such as a safe deposit box or mining equipment companies, buying shares of these companies might be a better investment. If you need cash flow to finance your investment, then gold stocks could be a good option.
You can also invest your money in exchange-traded fund (ETFs), which give you exposure to the gold price by holding securities related to gold. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
Can I purchase gold with my self directed IRA?
However, gold can only be purchased with your self-directed IRA. To do so, you must first open a brokerage account at TD Ameritrade. If you already have a retirement account, funds can be transferred to it.
The IRS allows individuals to contribute as high as $5,500 ($6,500 if they are married and jointly) to a traditional IRA. Individuals can contribute up $1,000 per annum ($2,000 if they are married and jointly) directly to a Roth IRA.
You should consider buying physical gold bullion if you decide to invest in it. Futures contracts are financial instruments based on the price of gold. These contracts allow you to speculate on future gold prices without actually owning it. However, physical bullion is real gold or silver bars you can hold in your hands.
What Is a Precious Metal IRA?
A precious metal IRA allows for you to diversify your retirement savings in gold, silver, palladium and iridium. These rare metals are often called “precious” as they are very difficult to find and highly valuable. They are great investments for your money, and they can protect you from inflation or economic instability.
Bullion is often used to refer to precious metals. Bullion refers simply to the physical metal.
Bullion can be bought via various channels, such as online retailers, large coin dealers and grocery stores.
An IRA for precious metals allows you to directly invest in bullion instead of purchasing stock shares. This allows you to receive dividends every year.
Precious metal IRAs have no paperwork or annual fees. Instead, your gains are subject to a small tax. Plus, you can access your funds whenever you like.
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- How do you keep your IRA Gold at Home? It's not exactly legal – WSJ
- Gold IRA: Add Some Sparkle To Your Retirement Nest Egg
- Understanding China's Evergrande Crisis – Forbes Advisor
- 7 U.S. Code SS 7 – Designation of boards of trade as contract markets
- 26 U.S. Code SS 408 – Individual retirement accounts
Tips to Invest in Gold
Investing in Gold is a popular investment strategy. This is because there are many benefits if you choose to invest in gold. There are several ways to invest in gold. Some people buy physical gold coins, while others prefer investing in gold ETFs (Exchange Traded Funds).
You should consider some things before you decide to purchase any type of gold.
- First, check to see if your country permits you to possess gold. If your country allows you to own gold, then you are allowed to proceed. If not, you may want to consider purchasing gold from overseas.
- Secondly, you should know what kind of gold coin you want. You have the option of choosing yellow, white, or rose gold.
- Third, consider the cost of gold. Start small and build up. When purchasing gold, diversify your portfolio. Diversifying your portfolio should be a priority, including stocks, bonds and real estate.
- Last but not least, remember that gold prices fluctuate frequently. It is important to stay up-to-date with the latest trends.
By: Eliman Dambell
Title: Biggest Movers: XRP Hits Fresh 4-Month High, Token Climbs 50% This Week
Sourced From: news.bitcoin.com/biggest-movers-xrp-hits-fresh-4-month-high-token-climbs-50-this-week/
Published Date: Fri, 23 Sep 2022 15:46:58 +0000