In a surprising move, XRP broke above 60 cents while the rest of the market entered a pullback.
Key Support levels: $0.60
Key Resistance levels: $0.68
1. Price Breakout
XRP managed to move above 60 cents over the weekend and rallied all the way to 66 cents. This is a major breakout and the price also made a higher high. Considering that market leaders like BTC or ETH have been falling in the past few days, this move is surprising.
2. Momentum Returns
With buyers back on the offensive, momentum and volatility are picking up again. The bias is bullish based on this price action. However, a pullback should not be dismissed after XRP increased by 13% since Saturday. The current target for this rally is found at 68 cents.
3. Buy Volume Increases
Surprisingly, the buy volume exploded during the weekend. This is not typical, but it has placed XRP in the lead in the past few days. If it manages to maintain this momentum, then the key resistance at 68 cents will be tested in the near future. Once the price arrives there, sellers could return.
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