3 Reasons Why XRP Can Hit $0.60 Today

With a number of circumstances coming together to make this move highly likely, XRP is poised to reach the $0.60 mark today. XRP may surpass this noteworthy level for the following three reasons:

XRP already extremely close to $0.60

It will be simpler for XRP to break through this barrier because it is currently trading just below $0.026. It would not take much buying pressure to push XRP over the edge, as traders frequently push prices in the direction of round numbers. Given that XRP is holding steady at these levels, it seems that the market momentum is favoring an upward move.

Signal of golden cross

On the XRP chart, a bullish technical indicator, known as a golden cross, has just developed. When the 200-day moving average is crossed by the 50-day moving average, indicating possible upward momentum, this happens. Golden crosses have historically signaled major price increases, and the fact that XRP is currently exhibiting this pattern strengthens the bullish view. For many traders, the golden cross is a sign that an asset is about to enter a strong uptrend, which increases confidence in the likelihood of hitting $0.60.

$0.60 had already been violated

Prior to a brief retreat, XRP surged above $0.60 yesterday and even touched $0.61. This suggests that there is sufficient volume and market interest to sustain a move above $0.60. The fact that XRP has already attained this stage implies that traders are preparing to retry. More evidence that the market can support higher prices, at least temporarily, is provided by the recent breach of $0.60.

At $0.60, what happens if XRP is denied? Even though there is a good chance that XRP will reach $0.60 today, it is crucial to take the other possibility into account. If XRP is rejected at this point, $0.56 would probably be the next immediate price target. This would suggest that the market will continue to move sideways and that XRP will stay in a small trading range. The asset’s next move could be determined by either a breakthrough or a retreat, so traders should keep a close eye on both.

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