XRP Price Forecast: Will the Rally Beyond $0.60 Last?

XRP is struggling to maintain momentum above the crucial $0.60 level, closely aligned with the 50% Fibonacci retracement. Despite multiple attempts, the altcoin faces strong resistance at this point, casting doubt on the sustainability of any upward movement.

The Ichimoku Cloud is currently flashing bullish signals for XRP, positioned under the candlesticks, suggesting potential for a short-term rise. This offers a glimmer of hope for the altcoin to reclaim $0.60. However, broader market conditions remain shaky, with overall sentiment leaning bearish.

Since mid-June, XRP's momentum has been mostly negative, reflected in its consistently bearish funding rate. Traders are largely expecting further price declines, which could hinder any efforts to build lasting upward momentum.

Currently trading at $0.58, XRP is eyeing another push to break the $0.60 mark. While a brief rally above this level is possible, strong bearish pressure could quickly reverse any gains. A fallback to $0.55 (the 38.2% Fibonacci level) may offer a slight recovery, but the real test lies in flipping $0.60 into support. If successful, XRP could target $0.65, invalidating the current downtrend and opening the door for further growth.
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