XRP, which has been experiencing high volatility recently, rose to the $0.570 resistance level but then retreated. This movement shows that there are similar correction trends in XRP as well as other major cryptocurrencies Bitcoin and Ethereum. This correction is acceptable as part of a general trend in the industry.
In terms of support and resistance levels, XRP price is holding above the $0.5250 support level, indicating that the bull market may continue. Technical analysis shows that the XRP/USD pair has an uptrend line forming at the $0.5320 support zone, which favors the bulls.
If XRP can clear the $0.5480 resistance level, the price could rise further to $0.570 and above. This could be the start of a new uptrend and the next resistance at $0.5850 could be reached.
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I EXPLAIN IN DETAIL.
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