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After testing an intraday high of $1.0643, XRP is currently trading at $1.0575. The pair, which opened the day at $1.0471, recorded a 1.64% gain driven by buying activity during the early hours of the day.
Key levels in the daily technical outlook:
Support Levels: The day's low of $1.0470 serves as the initial strong support. If this level is breached, the psychological $1.00 mark will be the next level to watch.
Resistance Levels: For the upward movement to continue, the price needs to sustain itself above the $1.0643 level tested earlier today. If this resistance is overcome, the next target will be the $1.10 zone.
For the remainder of the day, the direction in which the price breaks out of this narrow range ($1.047 – $1.064) will be the deciding factor regarding momentum.