Friday's Xrp session was again higher than usual. The token reached a 4-month high, marking the third consecutive session of record. 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
Friday's session saw XRP rise for the second consecutive session. The token reached 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)
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 gold buying a good retirement option?
Buying gold as an investment may not seem very appealing at first glance, but when you consider how much people spend on average on gold per year worldwide, it becomes worth considering.
Physical bullion is the most popular method of investing in gold. There are many ways to invest your gold. It is best to research all options and make informed decisions based on your goals.
If you're not looking to secure your wealth, it may be worth considering purchasing shares in mining equipment or companies that extract gold. If you are looking for cash flow from your investment, buying gold stocks will work well.
You also can put your money into exchange-traded funds (ETFs), which essentially give you exposure to the price of gold by holding gold-related securities instead of actual gold. These ETFs often include stocks of gold miners, precious metals refiners, and commodity trading companies.
Can the government take your gold
Your gold is yours, so the government cannot confiscate it. It's yours, and you earned it by working hard. It is yours. This rule may not apply to all cases. If you are convicted of fraud against the federal government, your gold can be forfeit. If you owe taxes, your precious metals could be taken away. However, even if you don't pay your taxes, your gold can be kept as property of the United States Government.
Can I hold physical gold in my IRA?
Gold is money and not just paper currency. It's an asset that people have used for thousands of years as a store of value, a way to keep wealth safe from inflation and economic uncertainty. Investors use gold today as part of their diversified portfolio, because it tends to perform better in times of financial turmoil.
Many Americans today prefer to invest in precious metals, such as silver and gold, over stocks and bonds. Although owning gold does not guarantee that you will make money investing in it, there are many reasons to consider adding gold into your retirement portfolio.
One reason is that gold historically performs better than other assets during financial panics. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one of the few assets that performed better than stocks during turbulent market conditions.
Another advantage of investing in gold is that it's one of the few assets with virtually zero counterparty risk. Your stock portfolio can fall, but you will still own your shares. If you have gold, it will still be worth your shares even if the company in which you invested defaults on its debt.
Finally, gold provides liquidity. This means you can easily sell your gold any time, unlike other investments. The liquidity of gold makes it a good investment. This allows one to take advantage short-term fluctuations within the gold price.
What precious metal should I invest in?
The answer to this question depends on how much risk you are willing to take and what type of return you want. Although gold has traditionally been considered a safe investment choice, it may not be the most profitable. Gold may not be right for you if you want quick profits. Silver is a better investment if you have patience and the time to do it.
If you're not looking to make quick money, gold is probably your best choice. However, silver might be a better option if you're looking for an investment that provides steady returns over long periods.
Statistics
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
External Links
cftc.gov
wsj.com
- Saddam Hussein's Invasion Helped Uncage a Bear In 1990 – WSJ
- You want to keep gold in your IRA at home? It's Not Exactly Lawful – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation board of trade as contract marketplaces
- 26 U.S. Code SS 408 – Individual retirement funds
investopedia.com
How To
Investing In Gold vs. Investing In Stocks
This might make it seem very risky to invest gold as an investment tool. This is because most people believe that it is no longer economically profitable to invest gold. This belief arises because most people believe that the global economy is driving down gold prices. People believe that investing in gold would result in them losing money. In reality, however, there are still significant benefits that you can get when investing in gold. Here are some examples.
One of the oldest currencies known to man is gold. It has been in use for thousands of year. People around the world have used it as a store of value. As a means of payment, South Africa and many other countries still rely on it.
You must first decide how much you are willing and able to pay per gram to decide whether or not gold should be your investment. The first thing you should do when considering buying gold bullion is to decide how much you will spend per gram. You could contact a local jeweler to find out what their current market rate is.
It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So while the price of gold has declined, production costs haven't changed.
When deciding whether to buy gold, another thing to consider is how much gold you intend on buying. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. But, if your goal is to make long-term investments in gold, this might be worth considering. Profitable gold can be sold at a lower price than it was when you bought it.
We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. Before making any investment decisions, we strongly advise that you thoroughly research all options. Only after doing so can you make an informed decision.
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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
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