XRP Price Starts Fresh Rally
The price of XRP has rallied over 20% and surpassed the $0.70 mark against the US Dollar. Despite a correction in gains, it is anticipated that the bulls will remain active near $0.650. XRP experienced a significant increase above the $0.680 resistance, and is currently trading above $0.685 and the 100 simple moving average on the 4-hour chart. Moreover, a major bullish trend line is forming with support near $0.6580. Although there might be further downward correction, the bulls are expected to maintain their activity around the $0.650 level.
If the price sustains its bull activity above the $0.728 resistance level, it could potentially rally towards the $0.750 resistance. Continuous gains might even push XRP towards the $0.785 resistance. However, if it fails to clear the $0.700 resistance zone, the price may continue to decline. The initial support on the downside is located near the $0.660 zone and the trend line. The next major support level is at $0.650, and a close below that level might result in a faster decline towards the $0.620 support zone.
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