šØšØ $XRP Shows Momentum but Faces Key Resistance šš
$XRP is experiencing a notable pump, much to the satisfaction of long-term holders. However, according to the weekly chart, $XRP is approaching a significant resistance level at $0.93. The question remains: will history repeat itself at this level, or will XRP break through?
Market Overview
Despite the recent rally, XRP still appears undervalued given its strong fundamentals. The broader market, however, has entered a correction phase following the series of sharp pumps seen recently. Even Dogecoin ($DOGE), despite positive news and Elon Muskās backing, has experienced a decline. Nevertheless, DOGE seems poised for a potential breakout, as its underlying momentum resembles a "missile yet to launch."
Trading Insights
Spot Trading Preference:
Given the current market volatility, spot trading is the safer approach. Futures trading, particularly without a stop loss, poses significant risks in these conditions.
Healthy Correction:
The current market pullback could be a healthy consolidation, laying the groundwork for the next phase of growth.
Bitcoinās Role in the Market
With Bitcoinās journey toward the $100,000 milestone still in play, the entire cryptocurrency market could see renewed bullish momentum in the near future.
What are your thoughts on XRP and the market's trajectory? Could this correction be the precursor to further gains? Letās discuss.