Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High admin January 30, 2022

Biggest Movers: XRP Rebounds on Tuesday, as AVAX Hits 1-Week High

AnalysisAvalancheAVAXMarket UpdatesRipple

Xrp rose for a second consecutive session on Wednesday, as the token continued to move away from a recent price floor. Since hitting 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.

XRP, formerly ripple, was a notable gainer in today’s session, as prices continued to move away from a recent support point.

Following a low of $0.4972 on Tuesday, XRP/USD raced to an intraday high of $0.5256 earlier in today’s session.

This came as bulls continued to move away from a floor at $0.49500, following a breakout earlier in the week.

XRP/USD – Daily Chart

Looking at the chart, it appears that this took place as the 14-day relative strength index (RSI) bounced from a support of its own at 59.00 .

At the time of writing, the index is tracking at 61.24, with the next visible ceiling at the 63.00 mark.

As a result of this upcoming hurdle, earlier bulls have already moved to liquidate gains, with XRP 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 moved to a peak at $18.31 earlier in today’s session, after falling to a low of $17.29 the day prior.

The surge saw avalanche climb to its strongest point since March 23, and came following a move beyond a ceiling at $18.00.

AVAX/USD – Daily Chart

Since then, earlier gains have somewhat fallen as a result of the RSI hitting a wall at the 56.00 level.

Price strength is now tracking at 55.63, which has resulted in AVAX once again trading below $18.00.

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Do you expect avalanche to move back above $18.00 this week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Source : Bitcoin

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