During what could be described as a choppy trading session, it was XRP that was one of the most prominent leaders, rising to a one-week high. While ripple rose, NEAR declined again, dropping as much as 10% on Friday.
After falling to $0.7106 early in the session, XRP/USD rose to an intraday high of $0.7937 during the day.
Today’s high came after four consecutive days of gains that took XRP to its highest mark since April 6.
This week’s run started after a false break of the $0.7115 support level, and it has now approached $0.8000 resistance.
Looking at the chart, getting past this point could be a problem as the 14-day RSI indicator is now below its ceiling.
This 50 level has not been broken in almost two weeks, and if the bulls want to move above $0.8000, price strength should increase.
NEAR fell for a second consecutive session on Friday amid continued price uncertainty after last week’s surge to $20.
After hitting that mark, which was a four-month high at the time, NEAR declined, falling below a key resistance level of $17.
Now prices are consolidating between that resistance level and the $15 support level, and prices are trading at $15.73 intraday today.
Today’s drop in price also led to a decline in short-term momentum, and NEAR is now down 15% from last Friday.
The 14-day RSI is now at 56.02, which is the weakest point since March 22, and this comes after breaking the 58.65 level.
Although the current momentum looks bearish, the bulls will likely continue to hold the onslaught until the $15 support point is broken, which could open the door for further shorts.
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