Crypto
XRP Eyes $2 Target After Breaking Above $1.60
XRP has made one of its strongest technical moves since August after breaking above $1.60 and invalidating its descending resistance structure.
The price surged to around $1.62, up over 25% from its recent local low at $1.28, and broke through the downward trendline that connected lower highs in August and September.
The breakout was reinforced by expanding volume during the advance, and XRP has easily surpassed each of its daily chart's major moving averages.
However, to reach a target of $2, XRP still has significant ground to cover, with around $1.65 to $1.70 representing its first major resistance level.