XRP rose by nearly 15% during today’s session, climbing to its highest point in over a week in the process. AVAX reached its highest level in 12 days following Friday’s gain of 11%.
Bullish pressure in XRP intensified on Friday, as prices rose to their highest point in over a week during today’s session.
Today’s surge saw XRP/USD rally to an intraday high of $0.3847, which is its highest point since June 11.
Overall, prices are currently 13.6% higher than Thursday’s low of $0.3244, and this comes after a marginal breakout of a key price ceiling.
The $0.3800 resistance mark was reached, and it was broken by short-term momentum that continued to rise.
The chart shows that the 10 day moving average (red) is confirming this trend shift.
Moreover, today’s 14-day RSI reading is at its highest in three months. It had reached 50.71 yesterday.
This point, however, is also a resistance line. That is why some gains from earlier years have somewhat eased as bulls may have liquidated their positions.
Avalanche (AVAX)
AVAX was another significant mover at the end of week. Prices moved near to the $20 mark on Friday.
After a slow start, which saw AVAX/USD drop to an all-time low at $13.53, today’s prices reached a high of $19.97.
The price of gold rose as high as 13% that day as bulls tried to crack the ceiling.
Despite this rise in bullish pressure, the resistance of $20 has so far held firm in today’s session, with prices now trading at $19.29 as of writing.
This could be because we also saw the Relative Strength Index reach a ceiling.
This could mean that not enough bulls will re-enter to lead the breakout at the $20 level.
What do you think? Please share your views with us in the comments.
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