XRP Price Jumps 10%, next pump is 0.550 ? 🔥

After forming a base above the $0.480 level, #XRP started a fresh increase. Recently, the SEC dropped its case against Ripple’s executives. It sparked a sharp increase in XRP above the $0.50 resistance.

There was a break above a major bearish trend line with resistance near $0.4885 on the 4-hour chart of the XRP/USD pair. The pair even broke the 50% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low.

$XRP price is now trading above $0.505 and the 100 simple moving average (4 hours). It is also helping #bitcoin , #Ethereum , #Solana , and other cryptocurrencies in moving higher.

On the upside, immediate resistance is near the $0.524 level or the 61.8% Fib retracement level of the key decline from the $0.5510 swing high to the $0.4730 low. The first major resistance is near the $0.532 level. A close above the $0.532 level could send the price toward the $0.550 resistance.

If the bulls remain in action above the $0.550 resistance level, there could be a drift toward the $0.565 resistance. Any more gains might send XRP toward the $0.585 resistance.