Is XRP Ready To Finally Explode Above $0.60?

Ripple price is finally gaining some bullish momentum after months of downtrending and consolidation.

By TradingRage

The USDT Paired Chart

Looking at the XRP/USDT pair, it is clear that the price has shown a quick recovery from the $0.43 support level. It broke above both the $0.5 level and the 200-day moving average, which are located around $0.55.

The price is currently poised to break above the $0.59 resistance zone and if successful, a higher rally towards the key $0.72 resistance level would be likely in the coming weeks .

Source: TradingView The BTC Paired Chart

The BTC paired chart also shows similar behavior. The market has recovered and broken above the 800 SAT level. However, the price has yet to break above the 200-day moving average, located around the 900 SAT mark.

Typically, a rise above the 200-day moving average indicates the start of a new uptrend. Therefore, if a breakout occurs, XRP will likely appreciate significantly against BTC in the short term.

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