CandleFocus Is XRP Ready to Set a New Yearly High Above $1 After Breaking Out?
2024-11-13
Author: Content Editor
In the recent crypto bull run, Ripple's XRP has shown positive signs as it breaks through the key resistance of $0.70. The altcoin surged over 20% in early Asian trading hours, reaching an intraday high of $0.7416, just below its yearly high of $0.7443. This rally follows a prolonged downturn for XRP, but it still faces strong resistance around the $0.74 zone. However, there is growing optimism in the XRP market due to potential regulatory changes in the US and hopes for a resolution to the ongoing SEC lawsuit. Technical indicators also support a bullish outlook for XRP, with the altcoin trading above the 50-day and 200-day moving averages and showing strong buying interest. At the time of writing, XRP is priced at $0.6752 with a market cap of $37.81 billion and is expected to trade between $1.0927 and $0.6105 in the coming days.
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