🔥 $XRP: Price Consolidates Surge, Ready for Another Bull Run?

XRP price surged above $0.550 and $0.600, currently consolidating gains while facing resistance around $0.6480.

Key Points

- XRP saw a strong rally, surpassing $0.550 and $0.580, reaching a high of $0.6473.

- Price is holding above $0.600, supported by the 100 Hourly Simple Moving Average.

- A contracting triangle pattern is forming, with resistance near $0.640.

Potential Scenarios

- A breakout above $0.640 could push XRP to $0.6550, with next targets at $0.6720 and possibly $0.700.

- Failure to break $0.640 could result in a downside correction, with support at $0.6080 and $0.600, and a possible drop to $0.570.

Technical Indicators

- MACD: Losing momentum in bullish territory.

- RSI: Above 50, indicating further upside potential.

- Key supports: $0.6080, $0.5700.

- Key resistances: $0.6250, $0.6400.

DYOR! #Write&Earn #MarketDownturn $XRP