bullish

Strong

<ul>
 <li>XRP price shows strong bullish action, retesting support at $0.560.</li>
 <li>Ethereum-compatible smart contracts expansion on XRP ledger boosts functionality.</li>
 <li>Price targets: potential rise to $0.690 or drop to $0.4880, depending on market sentiment.</li>
</ul>
<a href="https://thenewscrypto.com/?s=Ripple" target="_blank" rel="noopener noreferrer nofollow">Ripple’s</a> XRP has embarked on a notable upward trajectory since the week’s commencement, signaling a resurgence in buying sentiment within the cryptocurrency market. This positive price action coincides with a significant technological development: the expansion of Ethereum-compatible smart contracts to the <a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP </a>ledger.
This enhancement promises to unlock new possibilities for developers, granting access to foundational components and potentially catalyzing increased adoption through the creation of novel decentralized finance (DeFi) applications.
<h2 class="wp-block-heading" id="h-xrp-retesting-crucial-support">XRP retesting crucial support</h2>
The altcoin’s recent performance has been marked by a price jump, successfully retesting a crucial support trendline below the $0.560 level. XRP has been trading within a consolidated range between $0.560 and $0.630, reflecting a cautiously optimistic market sentiment.
However, a broader analysis of XRP’s price pattern since February suggests the potential for a more significant bullish reversal in the coming weeks, with the possibility of a breakout rally targeting the $0.690 resistance level.
The Relative Strength Index (RSI) is approaching its neutral point, with its average trendline suggesting a positive crossover. These technical signals collectively point towards the likelihood of continued price appreciation in the short term.
Looking ahead, XRP’s price trajectory could unfold in two primary scenarios. In a bearish reversal, XRP might retest the $0.560 support level, with the potential to slide further towards $0.4880 if negative sentiment intensifies.
Conversely, a continuation of the current bullish trend could see the coin challenging the $0.630 resistance level. A successful breach of this threshold could pave the way for a push towards $0.690, a level not seen since March 2024.

Ripple Price Shows Strong Bullish Action: XRP Tests Major Support

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