In a significant turn of events, <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a>, one of the leading <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a>, has recently witnessed a notable surge, surpassing the crucial $0.55 level.With a remarkable 8% increase in just 24 hours, <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP’</a>s price movement has caught the attention of market participants and crypto enthusiasts alike.This surge adds to the positive momentum that XRP has been gathering over the past week, with a substantial gain of 9.37%, with XRP trading at $0.5559.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f7f4ec079cc447a6864b69e9e8db0071.jpg" />XRP 1-day price chart. Source: FinboldAs a result, XRP’s market capitalization has climbed to $29.12 billion, adding over $2 billion to its market cap in a couple of hours, highlighting its significance in the crypto market.<h2 id="header-0">Analyzing the XRP breakout</h2>Renowned crypto market analyst Michael van de Poppe’s earlier reference to XRP’s crucial resistance levels adds further weight to the recent surge.While acknowledging the importance of the $0.55 level, van de Poppe’s previous insights revealed that XRP needed to accelerate above this mark for sustained upward momentum.<blockquote>— Michaël van de Poppe (&#64;CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1668577623528570881?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">June 13, 2023</a>Sweep of the high on <a href="https://twitter.com/search?q&#61;%24XRP&amp;src&#61;ctag&amp;ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> after testing $0.47!It&#39;s time to see whether this is a real breakout or simply a fake-out above the high on this eventful day. <a href="https://t.co/xiC3PodZnK" rel="noopener noreferrer nofollow">https://t.co/xiC3PodZnK</a> <a href="https://t.co/XHVAgF5Yqs" rel="noopener noreferrer nofollow">pic.twitter.com/XHVAgF5Yqs</a></blockquote>The surge above this level presents a promising development, indicating the potential for further growth and market confidence in XRP.Earlier on June 10, Poppe specifically <a href="https://finbold.com/xrps-path-to-1-analyst-provides-timeline-identifies-why-ltc-also-worth-watching/" rel="noopener noreferrer nofollow">emphasized</a> the significance of the ongoing U.S. Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) lawsuit against Ripple on XRP’s price direction. After analyzing XRP’s weekly chart, he identified a potential breakout scenario.<blockquote>“If we break the resistance, I think that we can start expanding to $0.75 but most likely start expanding towards a dollar or more. To crack this resistance zone, a flip of that resistance zone is where you want to start getting into a trade,” he said.</blockquote>Meanwhile, seasoned crypto trading expert Captain Faibik confidently stated on June 5 that ‘<a href="https://finbold.com/xrp-train-already-left-the-station-and-will-hit-1-says-crypto-expert/" rel="noopener noreferrer nofollow">the XRP train has left the station</a>,’ hinting at an imminent ascent towards the significant milestone of $1.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

XRP price rockets above $0.55 adding over $2 billion to its market cap in a day

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