XRP broke out of a large range between $0.41 and $0.74 on November 14, signaling the start of a new uptrend.
XRP/USDT daily chart | Source: TradingView
The sharp rally has pushed the RSI (Relative Strength Index) into overbought territory, suggesting that the XRP/USD pair is at risk of a correction or consolidation in the short term. A break of $0.74 remains a key level to watch in the near term. If buyers turn this level into support, the pair could rally to $1.07.
Conversely, if the price falls and closes below $0.74, it would indicate that the market has rejected the breakout. The price could then plunge towards the strong support level at $0.64.
