$XRP - ANALYSIS 🔍

• Recent Price Movement: XRP/USDT had a significant rally from around 0.3823 to a peak of 1.63, indicating strong bullish momentum.

• Current Price: 1.4174, with a slight retracement from the recent high.

Support and Resistance Levels:

• Key Resistance:

• 1.63: The most recent high acts as a strong resistance level. Breaking above it may lead to further bullish momentum.

• 1.69: Psychological resistance just above the previous high.

• Key Support:

• 1.23-1.25: This level acted as a consolidation zone during the recent rally and could serve as immediate support.

• 0.77: A major support zone formed prior to the rally.

• 0.38: The long-term support from which the rally started.

Bullish Scenario:

• If XRP can break above 1.63 with strong volume, the next targets could be 1.70 and potentially 2.00, depending on momentum.

• Consolidation above 1.40 without dropping below 1.23 would also indicate continued bullish sentiment.

Bearish Scenario:

• A break below 1.23 could lead to further correction, with potential targets around 0.77 and 0.50.

Indicators (General):

• Volume: Recent spike in volume confirms the strength of the move.

• Momentum: Likely overbought on shorter timeframes (check RSI or MACD if visible on your end).

Targets:

• Bullish Target: 1.70, 2.00

• Bearish Target: 1.23, 0.77