XRP Hits 1-Week High, as NEAR Falls Again – Market Updates Bitcoin News

During what can be described as a choppy trading session, it was XRP which was one of the most notable gainers, climbing to a one-week high. While ripple rose, NEAR was once again lower, falling by as much as 10% on Friday.

While crypto markets were mainly in the red, XRP was one of Friday’s biggest gainers, climbing by as much as 9%.

Following a low of $0.7106 earlier in the session, XRP/USD rallied to an intraday high of $0.7937 as the day progressed.

Today’s high comes after four consecutive days of gains, which have taken XRP to its highest point since April 6.

Biggest Movers: XRP Hits 1-Week High, as NEAR Falls Again
XRP/USD – Daily Chart

This week’s run began after a false breakout of the support level at $0.7115, and has now come close to hitting resistance at $0.8000.

Looking at the chart, passing this point could prove to be an issue, as the 14-day RSI indicator is now hovering below its own ceiling.

This level of 50 hasn’t been broken in almost two weeks, and should bulls look to move beyond $0.8000, price strength would need to increase.

NEAR Protocol (NEAR)

NEAR fell for a second consecutive session on Friday, as price uncertainty continues, following last week’s surge to $20.

Since hitting that point, which was then a four-month high, NEAR has since dropped, falling below its key resistance level of $17.

Prices are now consolidating between this resistance, and support of $15, with prices today trading at an intraday bottom of $15.73.

Biggest Movers: XRP Hits 1-Week High, as NEAR Falls Again
NEAR/USD – Daily Chart

Today’s drop in price has also pushed short-term momentum lower, with NEAR now down 15% since last Friday.

The 14-day RSI is now tracking at 56.02, which is its weakest point since March 22, and this comes following a break of its 58.65 floor.

Despite current momentum appearing to be bearish, bulls will likely continue to hold off this onslaught until the $15 support point is broken, which may open the door to further shorts.

Could we see NEAR slip below $15 in the upcoming days? Let us know your thoughts in the comments.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



Original

Spread the love

Related posts

Leave a Comment