$XRP price pump 25%: Can this breakthrough continue?

XRP price formed a bottom above $0.450 and began a significant pump, surpassing Ethereum and BTC. The price is able to break the resistance levels at $0.5150 and $0.550.

The price pump exceeded 25%, breaking through several obstacles near $0.600. The price formed a high point at $0.6473 and recently corrected some gains. The price fell below the $0.600 level. The price fell below the 23.6% Fibonacci retracement from the swing low of $0.4922 to the high of $0.6477.

However, longs are active around $0.5880. It is still trading above $0.600 and the 100-hour simple MA. On the upside, the price faces resistance near $0.6250.

The first major resistance level is around $0.6350. The next key resistance level could be $0.640. If it clearly breaks the $0.640 resistance level, the price may fall towards the $0.6550 resistance level. The next major resistance level is around $0.6880. If the pump continues, the price may fall towards the $0.700 resistance level in the short term, even $0.720.

If XRP fails to break through the resistance level of $0.620, it may fall again. The initial support level is around $0.600. The next major support level is at $0.5880.

If there is a downward breakthrough and the price closes below $0.5880, the price may continue to fall to the support level of $0.570 or the 50% Fibonacci retracement level of the upward trend from the swing low of $0.4922 to the high of $0.6477. The next major support level is at $0.540.

technical indicator:

MACD per hour - MACD of XRP/USD is currently accelerating in the bullish zone.

The hourly RSI (Relative Strength Index) for XRP/USD is now above the 50 level.

Key support levels - $0.600 and $0.5880.

Key resistance levels - 0.6200 USD and 0.6400 USD.