Ripple started a fresh rally above the $0.6000 resistance zone against the US Dollar. XRP price even broke $0.7000 and it seems like there are high chances of more upsides.
Ripple gained strength after it broke the $0.5500 and $0.6000 resistance levels against the US dollar. The price is now trading nicely above $0.6500 and the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $0.6100 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could dip in the short-term, but the bulls are likely to remain active above $0.6000. Ripple’s XRP Price Rallies To New Multi-Week High
This week, ripple’s XRP started a strong increase above $0.6000, while bitcoin and ethereum remained in a range. Earlier, XRP formed a support base above $0.5000 before surging above the $0.6000 resistance.
It broke many hurdles near $0.5500 and $0.6000. The bulls even pumped the price above