• XRP price started a new increase above the $0.50 resistance.
• A daily close above $0.545 might start another decent increase.
• The first major support is near the $0.50 level and the broken trend line region.
XRP Price Outperforms Bitcoin
Ripple’s XRP is up over 10%, signaling a bullish breakout. The price might rise further toward the $0.58 and $0.60 levels in the coming days, as this month it formed a strong support base above the $0.410 level against the US Dollar and increased above various resistances such as 50-day simple moving average, $0.432 and $0.450 resistance levels, etc., improving market sentiment for Ripple significantly and pushing bullish moves in XRP higher than Bitcoin and Ethereum prices.
Resistance at $0.495 on Daily Chart
During its rise, XRP traded above a major bearish trend line with resistance at $0.495 on the daily chart, but now faces offers near the 61.8% Fib retracement level of its main decline from the swing high of $0