Biggest Movers: XRP Hits 1-Week High, as NEAR Falls Again
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. XRP
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. 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. 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. Tags in this story Analysis, NEAR, Ripple, XRP
Could we see NEAR slip below $15 in the upcoming days? Let us know your thoughts in the comments. 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. Bitcoin, Ethereum Technical Analysis: ETH Remains Close to Support of $3,000 on Good Friday MARKET UPDATES | 10 hours ago Biggest Movers: RUNE, ZIL Rebound Following Recent Losses, Trading Nearly 20% Higher MARKET UPDATES | 1 day ago
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