Ripple's (XRP) price recently hit $0.60, bringing optimism to the market. Despite falling below this level, indicators suggest that a bounce similar to the one seen six months ago could occur.
Interest in XRP has risen, as seen by the Taker Buy/Sell Ratio which climbed to 1.06 before falling to 0.88 and then rising again to 0.93. This suggests renewed bullish sentiment.
Another positive indicator is Ripple's Open Interest, which increased to $710 million, indicating that traders are allocating more funds to XRP.
XRP faces resistance at $0.60 and support at $0.57. If buying pressure increases, the token could surpass $0.67 and aim for $0.70, representing a 20% rally. However, if it faces rejection, it might drop to $0.52.
