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<ul>
 <li>XRP is attempting to break the crucial resistance level at $0.578, which could trigger a 40% price increase to $0.748 if successful.</li>
 <li>The resistance level aligns with the daily SMA 200, a key technical marker that has constrained XRP’s price since mid-April.</li>
 <li>The failure to surpass $0.578 may lead to continued consolidation or a potential pullback.</li>
</ul>
XRP is nearing a pivotal price shift. If XRP can surpass the critical resistance level of $0.578, it may signal a bullish trend reversal, potentially propelling the price up by 40% and enabling XRP to revisit its March high of $0.748.&nbsp;
The resistance at $0.578 aligns with the daily Simple Moving Average (SMA) 200, a key technical marker that has restricted XRP’s price movement since mid-April. Recently, <a href="https://www.tradingview.com/x/I6Elarq0/" rel="noopener noreferrer nofollow">XRP</a> surpassed the daily SMA 50 at $0.529, signaling a possible shift in market dynamics. However, the next challenge lies in overcoming the daily SMA 200 to maintain this positive momentum.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/0Al07mOMbWqWqEfVoexRFwui4tzwmPU30-aYeET7ujWwR0b66XEOFvWzM9z1SqZHGzg4G2i3-1pkLURinRFIy1bzFQ55TQHLIu_8OIt4ddRaU_uxKPWVU9GZNIns3PEtUjBWbvIz7OUJnHE7s00mlfY" alt="">
</figure>
Source: TradingView
Market analysts are keenly observing XRP’s price action, especially its behavior around the $0.578 resistance. If XRP successfully surpasses this level, it could ignite a surge in buying interest, pushing the price toward subsequent targets. The next resistance levels are identified at $0.642 and $0.662 before XRP can attempt to reclaim its March high.
Conversely, if XRP fails to break through the $0.578 resistance, it may continue to consolidate, trading within a tight range while awaiting fresh market drivers. A retracement could see XRP testing support near $0.50 or potentially lower.&nbsp;
A more bearish scenario would be triggered if XRP drops below $0.467, which could lead to a decline towards the $0.42 mark. Currently, XRP is trading at $0.535, down 0.19% over the last 24 hours.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrps-historical-upward-price-pattern-repeats-bull-run-now/" rel="noopener noreferrer nofollow">XRP’s Historical Upward Price Pattern Repeats, Bull Run Now?</a></li>
 <li><a href="https://cryptonewsland.com/xrps-decisive-moment-breaking-0-75-barrier-for-bullish-reversal/" rel="noopener noreferrer nofollow">XRP’s Decisive Moment: Breaking $0.75 Barrier for Bullish Reversal</a></li>
 <li><a href="https://cryptonewsland.com/xrps-road-to-reclaiming-ath-insights-and-timeline-unveiled/" rel="noopener noreferrer nofollow">XRP’s Road to Reclaiming ATH: Insights and Timeline Unveiled</a></li>
 <li><a href="https://cryptonewsland.com/market-analysis-can-bnb-reclaim-600-in-2023s-first-quarter/" rel="noopener noreferrer nofollow">Market Analysis: Can BNB Reclaim $600 in 2023’s First Quarter?</a></li>
 <li><a href="https://cryptonewsland.com/pepe-coins-15-surge-quest-to-reclaim-all-time-high/" rel="noopener noreferrer nofollow">Pepe Coin’s 15% Surge: Quest to Reclaim All-Time High?</a></li>
</ul>
The post <a href="https://cryptonewsland.com/xrps-bullish-breakout-could-it-soar-40-to-reclaim-march-high/" rel="noopener noreferrer nofollow">XRP’s Bullish Breakout: Could It Soar 40% to Reclaim March High?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

XRP’s Bullish Breakout: Could It Soar 40% to Reclaim March High?

Crypto News Land

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