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 Frid...
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.
XRPWhile 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.
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.
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.
Original source
Read on Bitcoin NewsRelated market context
Bitcoin Mining Cost Model Points To $47,000 Floor, But Analysts Urge Caution
TL;DR Crypto Rover says Bitcoin has never bottomed below electrical production cost, currently estimated at $47,000. Mining-cost m...
Standard Chartered Says Bitcoin Bottomed Near $59,000 As Crypto Winter Ends
TL;DR Standard Chartered’s Geoffrey Kendrick reportedly says Bitcoin’s $59,000 area marked the cycle bottom. The note cites SpaceX...
Are 24/7 CME Bitcoin futures a volatility cure — or a new leverage trap?
Wall Street got to trade Bitcoin around the clock just in time to watch the market fall apart. CME Group launched 24/7 trading for...
Bitcoin Selloff Pushes Over Half of Supply Into Loss, Worst Week Since FTX Collapse
Bitcoin fell below $60,000, pushing over 50% of circulating supply into loss. The worst week since FTX collapse raises questions a...
Bitcoin faces one of its biggest mining difficulty drops as miner margins collapse
The Bitcoin network is poised to execute one of the largest downward adjustments to its mining difficulty in its 17-year history t...
Bitcoin’s Worst Week Since FTX Collapse Revives Wall Street Bottom-Calling Habit
Bitcoin rebounds from below $60,000 after worst week since FTX collapse, reviving Wall Street bottom-calling. Over half of supply...