$XRP is exhibiting strong bullish momentum, supported by rising moving averages and increased trading volume. A breakout above the resistance at $0.9842 could pave the way for XRP to test the critical psychological level of $1.00. However, if a pullback occurs, $0.8851 will act as key support. Traders are advised to monitor price action closely and manage risk effectively, as market volatility remains high.
Bullish Scenario: A breakout above $0.9842 could signal further upside, targeting $1.00 and beyond.
Bearish Scenario: A failure to maintain current levels may lead to a pullback to $0.8851, where buyers might step in again.
Recommendation: Traders should watch for a breakout or rejection at $0.9842 and monitor volume closely for confirmation. Manage risk with stop-loss orders below key support levels.
Key Support and Resistance Levels:
1. Immediate Support: $0.8851 (previous low before the breakout).
2. Immediate Resistance: $0.9842 (24H high).
A breakout above $0.9842 could lead to further gains, potentially testing psychological levels around $1.00. If the price retraces, the $0.8851 level could act as support.
