Ripple Price Analysis: XRP Explodes Above $0.6 But Will the Bulls Hold?

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Following an impulsive surge driven by increased buying pressure near the crucial $0.43 support, XRP’s price has broken through multiple key resistance levels, including the 100 and 200-day moving averages.

This surge allowed XRP to break out of a multi-month descending channel, surpassing several resistance zones, including the 100-day and 200-day moving averages and the crucial $0.55 static resistance level. The 4-hour chart reveals a clear bullish reversal, with the price breaking above the multi-month descending trendline.

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