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

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

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

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.

Register your email here to get weekly price analysis updates sent to your inbox: Tags in this story Analysis, Avalanche, AVAX, Ripple, XRP

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

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. Bitcoin, Ethereum Technical Analysis: BTC Moves Above $28,500 as ETH Nears $2,000 MARKET UPDATES | 11 hours ago Biggest Movers: DOGE up 30%, Following Twitter Logo Change MARKET UPDATES | 1 day ago

Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleChina Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says Next articleBitcoin Creator Satoshi Nakamoto Turns 48 Today, Coinciding With the Anniversary of FDR’s US Gold Ban Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItCentral Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale Digital Ruble ‘Much Needed,’ Russia’s Central Bank Says, Won’t Delay Testing Ethereum Foundation"s Financial Report Discloses It Holds $1.6 Billion in Assets, 80.5% Held in Ether Terra"s Algorithmic Dollar-Pegged Crypto UST Is Now the Third-Largest Stablecoin