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Ripple Price Analysis: XRP Eyes $0.60 Following a 30% Weekly Surge

XRP/USD – Bulls Break Back Above 2019 Highs
Key Support Levels: $0.5, $0.453, $0.42.Key Resistance Levels: $0.556, $0.588, $0.6.
XRP is in full recovery mode after surging by a total of 5.5% today to break the 2019 highs at $0.556 and reach $0.6. XRP is now up by a total of 30% this week, making it the second-highest performing top-10 ranked cryptocurrency behind Theta (+75%).
The cryptocurrency had penetrated above a falling wedge pattern over the weekend as it pushed to break resistance at $0.5. From there, XRP has been slowly grinding higher each day to break the 2019 highs and hit $0.6. It has since dropped to $0.578.
It’s worth noting that the most recent surge comes as a result of somewhat positive developments in relation to the Ripple-SEC lawsuit.
XRP/USD Daily Chart. Source: TradingViewXRP-USD Short Term Price Prediction
Looking ahead, the first level of resistance lies $0.588 (short-term 1.272 Fib Extension). This is followed by $0.6, $0.65 (bearish .786 Fib Retracement), and $0.685 (1.272 Fib Extension & February highs).
On the other side, the first level of support lies at $0.556 (2019 Highs). This is followed by $0.5, $0.45 (.5 Fib Retracement), $0.425 (100-days EMA), and $0.4 (.618 Fib Retracement).
The daily RSI is fully in the bullish favor as it approaches extremely overbought conditions. However, the Stochastic RSI is already extremely overbought and is primed for a bearish crossover signal that might cause a correction within the market.
XRP/BTC – Bulls Break Back Above 1000 SAT.
Key Support Levels: 800 SAT, 740 SAT, 670 SAT.Key Resistance Levels: 867 SAT, 1000 SAT, 1200 SAT.
XRP penetrated above a descending trend line over the weekend as it pushed back above the January price range after …
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