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<p>Ripple’s native token, XRP, is making headlines as it breaks out of a key consolidation zone, setting the stage for a potential price rally. As of September 28, 2024, XRP surged past the $0.59 resistance level, signaling a shift from a downtrend to an uptrend. This breakout has caught the attention of investors, with trading volumes spiking 64%, indicating growing interest in the token.</p><h3 id="xrp-price-performance-surging-above-key-levels">XRP Price Performance: Surging Above Key Levels</h3><p>While major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are experiencing market corrections, XRP has seen a price surge of over 5.2%, reaching $0.62. This rise comes after weeks of consolidation between $0.56 and $0.59, making this breakout particularly significant. Technical analysts note that XRP is currently trading above its <a href="https://www.fxstreet.com/cryptocurrencies/news/ripple-price-steady-above-key-support-as-on-chain-metric-suggests-bullish-outlook-202409231059" rel="noopener noreferrer nofollow">200-day Exponential Moving Average (EMA)</a>, further reinforcing its bullish outlook.</p><h3 id="key-resistance-and-potential-price-targets">Key Resistance and Potential Price Targets</h3><p>Despite the recent surge, XRP faces strong resistance at the $0.647 level. Analysts suggest that if XRP manages to break through this resistance and close a daily candle above $0.65, it could pave the way for a further 15% rally, pushing the token towards the $0.75 mark in the coming days.</p><h3 id="on-chain-metrics-support-bullish-outlook">On-Chain Metrics Support Bullish Outlook</h3><p>XRP’s bullish momentum is supported by promising on-chain data. According to<a href="https://www.coinglass.com/currencies/XRP" rel="noopener noreferrer nofollow"> Coinglass</a>, the Long/Short ratio stands at 1.027, indicating a strong bullish sentiment among traders. Additionally, open interest in XRP futures has increased by 17.9% in the last 24 hours, further suggesting that investors are increasingly betting on long positions.</p><p>With 51.25% of top traders holding long positions, XRP appears to be in a strong position for further gains.</p><h3 id="conclusion-will-xrp-hit-0-75">Conclusion: Will XRP Hit $0.75?</h3><p>The combination of positive on-chain metrics, increased trading volume, and a strong technical setup suggests that<a href="https://icogemhunters.com/xrp-stuck-at-0-58-is-a-price-surge-just-around-the-corner/" rel="noopener noreferrer nofollow"> </a><a href="https://icogemhunters.com/xrp-stuck-at-0-58-is-a-price-surge-just-around-the-corner/" rel="noopener noreferrer nofollow">XRP</a> is positioned for a significant rally. If the token can break through key resistance levels, the next target of $0.75 could be within reach. Investors will be watching closely as XRP continues to build momentum.</p><p></p><p><em><strong>Disclaimer:</strong> This article is intended for informational purposes only and should not be construed as legal, tax, investment, financial, or any other form of advice.</em></p><p></p><p><em>Source: </em><a href="https://icogemhunters.com/xrp-bulls-take-over-will-ripples-price-hit-0-75-after-this-breakout/" rel="noopener noreferrer nofollow">ICO Gem Hunters</a></p>

XRP Bulls Take Over—Will Ripple's Price Hit $0.75 After This Breakout?

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