#xrp #Xrpđ„ $XRP
XRP is seeing a significant rally today, reaching the key psychological level of $1 for the first time since December 2021. The token has seen an impressive jump of around 26% in the last 24 hours, reaching a price of around $1.11.
Key Technical Levels
On the hourly chart, XRP is trading near the local resistance level of $1.0739. If buyers maintain the initiative, there is a chance of breaking through this level and moving towards the $1.15-1.20 zone.
Indicators and Volume
Open interest in XRP derivatives increased by 10.44% to $1.56 billion, indicating increased speculative interest. Trading volume reached $13.13 billion, and the market capitalization increased to around $58 billion.
Outlook
Technical analysts suggest that if the current uptrend continues, XRP could head towards the $1.34 and $1.72 levels as the next targets. However, it is worth noting that due to the strong growth in recent days, a correction towards the $0.90-0.95 zone is possible.
