XRP is currently testing a crucial support level as traders anticipate potential price movements in the coming weeks. Despite the euphoria from the Federal Reserve's interest rate cut, recent price actions have caused uncertainty among traders.
The token hovers near the pivotal $0.50-$0.55 range, crucial for confirming a bullish continuation. Analysts believe that if XRP maintains this level, it could jump 75% or more. The altitude of the expected surge could range between $0.80 and $1.10.
Technical indicators show XRP's price trading around $0.53, close to its moving and exponential averages. An inability to hold the critical $0.50 support level may result in significant selling pressure. However, surpassing the $0.54 and $0.55 average levels could trigger a substantial rally for the token.
Traders are optimistically watching for further signs of bullish momentum, recognizing that overcoming the $0.65 resistance level could pave the way for a larger upward trend for XRP.
