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Ripple has demonstrated a strong bullish surge from the $0.42 support region, reclaiming significant resistance levels up to the 200-day MA around $0.54. The main challenge lies in overcoming the resistance at $0.54-$0.55, where significant selling pressure is present.
Channel’s Upper Boundary: Ripple successfully surpassed this level, breaking out of the descending channel pattern. Currently, Ripple encounters significant resistance at the 200-day MA of $0.54. This moving average aligns with a static resistance zone of $0.55, making it a substantial barrier for further price increases.
If the cryptocurrency stabilizes and breaks above the $0.55 resistance, it could lead to a sustained bullish trend toward the next major resistance at $0.60. Nevertheless, a temporary period of consolidation is expected in the mid-term due to the potential presence of supply near this critical juncture.On the 4-hour chart, Ripple exhibited a notable bullish trend, driven by increased demand near the $0.4 mark. This buying activity led to a breakout above $0.47.
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