NEWSLETTER
Xrp rallied for the second session in a row on Wednesday, as the token continued to pull away from a recent price low. Since reaching an eleven-month high a week ago, the token has mostly consolidated. Avalanche was also in the green, as prices hit a one-week high.
XRPpreviously ripple, it was a notable winner in today’s session, as prices continued to pull away from a recent support point.
After a low of $0.4972 on Tuesday, XRP/USD reached an intraday high of $0.5256 earlier in today’s session.
This came as the bulls continued to pull away from a bottom at $0.49500, following a breakout earlier in the week.
Looking at the chart, it looks like this happened when the 14-day RSI bounced off support at 59.00.
At time of writing, the index sits at 61.24, with the next top visible at the 63.00 mark.
As a result of this upcoming hurdle, previous bulls have already moved to liquidate gains, with XRP it is now trading lower at $0.5137.
Avalanche (AVAX)
Another notable gainer on Tuesday was avalanche (AVAX), which moved to a one-week high.
AVAX/USD reached a high of $18.31 earlier in today’s session, after falling to a low of $17.29 the day before.
The rise saw the avalanche climb to its strongest point since March 23 and came after a move past the $18.00 ceiling.
Since then, previous gains have fallen a bit as a result of the RSI hitting a wall at the 56.00 level.
Price strength is now at 55.63, which has resulted in AVAX trading below $18.00 once again.
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Do you expect the avalanche to rally above $18.00 again this week? Let us know your thoughts in the comments.
image credits: Shutterstock, Pixabay, Wiki Commons
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