Trader and YouTuber Stock Moe shared his views on XRP's prospects, highlighting its bullish setups and key support levels.
Stock Moe's Outlook on XRP
Stock Moe noted that the technical picture for XRP looks optimistic. The coin broke resistance at $3.00 and continues to rise, creating higher highs and lows. Moe points out that such movements typically indicate a positive trend. His warning for the community: 'Don’t say you weren’t told.'
Key Levels for XRP
Moe highlights several important levels to watch:
* XRP must stay above the 5-day or 13-day moving averages (EMAs). * A bounce off these levels could mean continued growth. * The danger zone lies below the 200-day EMA, currently around $2.50. Should XRP drop below this level, Moe would start to worry about a reversal.
Market Situation and October Forecasts
Moe also emphasizes the importance of Monday's market open. A strong green candle at the beginning of the week could trigger the next breakout. Conversely, careful observation is needed to see if XRP can bounce at support.
In addition to XRP, Moe highlights Ethereum, which he believes is gearing up for new all-time highs, as well as Solana, whose strength he also noted. He anticipates significant market movements in October, having already invested two-thirds of his capital.
Stock Moe emphasizes that XRP is in a bullish position, but traders should closely monitor the charts. His main advice is to track support levels, which are crucial.
