XRP continues its strong movement amid the current bull market, trading above the crucial $1.50 level and showing a more than six percent increase in the last 24 hours. The altcoin has also gained 20 percent over the past week, eyeing to break the $1.60 level.
XRP Growth in the Current Bull Market
While many cryptocurrencies move in waves, XRP often follows a straight upward trajectory, especially during bull markets. At the moment, XRP is facing resistance between $1.60 and $1.70. If XRP breaks above $1.70, it could easily hit $2 soon.
Support Levels for XRP
According to analyst Josh of Crypto World, in case of a pullback, XRP has solid support around $1.25 to $1.30. This range has acted as major support recently, so if the price drops, it is likely to bounce back from there.
Short-Term Outlook: Breakout and Resistance
XRP has successfully broken out from a triangle pattern. Although the breakout was slightly delayed, it is now heading towards the target price of $1.77. Short-term resistance may appear around $1.70, but once that level is cleared, XRP is expected to continue its upward movement.
The breakout above $1.50-$1.51 marks a significant shift. Once this resistance level was cleared, XRP’s price surged higher. Now, those previous resistance levels should act as new support, especially around the $1.62 to $1.63 range.
