bullish

Major

Verge

<ul class="wp-block-list">
 <li><strong>XRP hits two-week high, nearing critical $0.60 resistance level.</strong></li>
 <li><strong>Bullish momentum driven by increased trading volume.</strong></li>
</ul>
<p>XRP has regained momentum, hitting a two-week high of $0.5666, marking a 2.72% surge in the past 24 hours, though it slightly retreated to $0.5573. The altcoin’s trading volume saw a notable 16% increase, reflecting heightened market activity. Despite the recent recovery, XRP is still down 5% over the past month, driven by a late September sell-off that resulted in an 18% <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">price</a> decline.</p>
<p>This recent upward movement signals XRP’s potential to reclaim lost ground, with key support levels being tested. The 50% Fibonacci retracement line at $0.55 remains a crucial level, and breaching the 61.8% Fibonacci retracement at $0.59 could pave the way for a rally above the long-awaited $0.60 mark.&nbsp;</p>
<p>However, XRP’s upward trajectory hinges on overcoming this strong resistance, which has held firm for months. Meanwhile, fellow altcoins Solana, <a href="https://coinmarketcap.com/currencies/dogecoin/" target="_blank" rel="noopener noreferrer nofollow">DOGE</a>, ADA is facing a decline of 2-5% in the past 24 hours.</p>
<h3 class="wp-block-heading" id="h-an-xrp-rebound-rally">An XRP Rebound Rally?</h3>
<p>Technical indicators show a mixed outlook. The Relative Strength Index (<a href="https://in.tradingview.com/symbols/XRPUSDT/" target="_blank" rel="noopener noreferrer nofollow">R</a><a href="https://in.tradingview.com/symbols/XRPUSDT/" rel="noopener noreferrer nofollow">SI</a>) has recently closed above the neutral 50 level, signalling an improvement in bullish momentum. Yet, the token remains under pressure, with the 20-day exponential moving average (EMA) trending downward, and a bearish crossover with the 200-day EMA looming. If this crossover materialises, XRP could struggle to regain its footing above $0.56, leading to a period of consolidation.</p>
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 <figure class="aligncenter"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXcqVwuuecL50GHlXFzr096NnsuD0mjCf1jlpUzuUuzxBJMCREzDd220Qjy5FgkGYo3P_GOYSaCI4unMD7G_Y9OlHQY222Kiakkw4XlGPV4oH3Y9ERtnL0FE_J6HmsRJfTxmOWZ2d9N6Scwk0H1k4AAJHs0?key=kALhsiDy3XOObvb7zzhL0g" alt="">
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<p>On the derivatives front, speculative activity surged, with a 753% increase in options volume and a 27.2% rise in open interest. While long liquidations outpaced shorts, indicating profit-taking, the predominance of long positions suggests traders remain hopeful of a potential recovery.</p>
<p>As XRP continues to navigate resistance levels, traders are <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">watching</a> for a decisive breakout, with the $0.60 level in focus. Overcoming this crucial hurdle could fuel a more sustained rally in the coming weeks.</p>

Is XRP on the Verge of a Major Breakout Beyond $0.60?

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TheNewsCrypto

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