XRP is up nearly 15% during today’s session, climbing to its highest point in a week in the process. An increase in momentum within the crypto market also saw AVAX rise to a 12-day high, following a gain of over 11% on Friday.
Bullish pressure in XRP intensified on Friday, as prices hit their highest in a week during today’s session.
Today’s surge rebounded XRP/USD to an intraday high of $0.3847, the highest point since June 11.
Overall, the price is currently up 13.6% from Thursday’s low of $0.3244, and this comes after a minor breakout of a key price range.
This resistance point was found at the $0.3800 mark, and it was broken as the short-term momentum continued to increase.
Looking at the chart, the 10-day moving average (red) confirms this change in direction, and the trend is now moving higher.
Moreover, the 14-day RSI is tracking its highest point in three months, after hitting a high of 50.71 earlier today.
However, this point is also a resistance level, which is why there is some downside in earlier gains, as some bull positions are likely to be liquidated.
AVAX was another notable mover towards the end of the week as the price moved closer to the key $20 mark on Friday.
After a slow start to the week, with AVAX/USD hitting an all-time low of $13.53, prices peaked at $19.97 earlier today.
The move saw the price rise up to 13% on the day, with the bulls attempting to break out of the current range.
Despite this increase in bullish pressure, the $20 resistance has remained strong in today’s session, and the price is now trading at $19.29 as of writing.
One of the reasons for this could be that we have also seen the relative strength index reaching its peak.
As a result, we may not see enough bulls re-entry to help us break the $20 level.
Do you expect AVAX to break out of this resistance by the end of the week? Let us know your thoughts in the comments.
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