XRP Price Prediction, XRP surge 7%, Is $0.5500 on the cards

XRP struggle to maintain a position above the 200-Day Moving Average

Following the SEC's charges being dropped against Ripple Labs executives, XRP witnessed an 8.00% surge in price, surging to $0.5180 and successfully reclaiming a pivotal psychological level. In 2023, XRP's year-to-date gains amount to an impressive 52%, and its current trading range oscillates between $0.46 and $0.55. These factors, coupled with a broader market recovery and a favorable shift in sentiment, contribute to a bullish outlook for Ripple's price.nt, a bullish outlook is emerging for Ripple's price.

Technical View:

According to Coingabbar Price Analysis, XRP, having established a base above $0.480, is now gaining momentum and has breached the $0.50 resistance against the US Dollar. The dropping of the SEC's case against Ripple's executives has spurred bullish moves. Although XRP has displayed a sideways trend in its daily chart over the last three months, there's been a notable bullish spike and a test of the crossover. While intra-day price action for XRP is strongly bullish, it's still struggling to surpass the 200-day moving average, which has been a resistance point since September. If XRP manages to convincingly break above $0.55, it could potentially make a run back towards its yearly highs in the $0.90.

KEY LEVELS :

RESISTANCE LEVEL : $0.5320-$0.5500

SUPPORT LEVEL : $0.5070-$0.4900

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.