XRP Price Prediction: Momentum Reignites As Bulls Aim For $0.75

XRP price is gaining pace above the $0.550 resistance. The bulls seem to be aiming for a move above the $0.60 and $0.62 resistance levels.

XRP started a fresh increase above the $0.550 resistance level.

The price is now trading above $0.575 and the 100 simple moving average (4 hours).

There was a break above a major contracting triangle with resistance at $0.560 on the 4-hour chart of the XRP/USD pair (data source from Kraken).

The pair could start a fresh rally if there is a close above the $0.60 resistance zone.

XRP Price Restarts Increase

In the past few days, XRP price recovered higher from the $0.530 zone. There was a move above the $0.545 and $0.550 resistance levels. However, the upside was less compared to Bitcoin and Ethereum.

There was a break above a major contracting triangle with resistance at $0.560 on the 4-hour chart of the XRP/USD pair. The pair traded as high as $0.5971, and it is currently consolidating gains. It tested the 23.6% Fib retracement level of the upward move from the $0.5290 swing low to the $0.5971 high.