Ripple (XRP) has seen a 7.48% increase over the past week, bringing the cryptocurrency near the $0.60 threshold. In the past, XRP has failed to stay above this crucial level and has faced a lot of pushback. The recent rally provides new hope that the upward movement might continue, but the future of this rally is still unclear. The price of XRP would have to break and hold above this crucial resistance level for this momentum to be sustained.
Analyst’s Bullish Outlook
On Monday, crypto analyst Dark Defender posted in an X post that XRP has a successful breakout and retests on the weekly Relative Strength Index (RSI). The RSI has reached its peak in more than a month. This strong position shows a positive outlook, and the price may still rise in the near future.
Hey there. #XRP had an excellent break-out and retest in the weekly RSI.
— Dark Defender (@DefendDark) September 15, 2024
I expect the price will strongly break $0.6044 within hours & proceed for the level boss, $0.6649.
When the boss is eliminated, we will all say "Ciao" and never see him again.#XRPCommunity pic.twitter.com/yuMsgIYBXg
According to analysis, XRP may break past the $0.6044 and then start with the next level which is $0.6649. The analyst pointed out that this is a positive sign for XRP and that a more sustainable rebound might follow. The Relative Strength Index (RSI) is at 52.70, which shows that there was an increase in buying pressures. If the RSI stays here more buying pressure for XRP is expected to come into the market.
XRP Set for Bullish Breakout as Analysts Eye Key ResistanceThe next few hours are critical for XRP’s price action, as many market analysts and traders will closely watch. If there is a clear move above $0.60, it may set the stage for more upsides. But this push may last if the coin reaches $0.6649. The decline in XRP suggests a possible pullback if it fails to keep its current upward trend.
Market Awaits Outcome
This current volatility is a clear indication that the market can be extremely volatile and, therefore, very unpredictable. These levels, when broken, could lead to a massive shift in the value of XRP if it ever happens. On the other hand, if there is a lack of going beyond the $0.60 would define the consolidation zone before any further price moments The market is keenly watching how XRP is moving through these stages and waiting for the result.
