XRP Rising, Outperforms Bitcoin: Will Bulls Break $0.55?

XRP is unexpectedly firm following gains over the weekend. From the daily chart, prices are trickling higher, slowly reversing last week’s losses. At over $0.53 when trading, the breakout on April 20 may anchor gains that will thrust XRP above $0.55 in the days ahead. Till development, there will be a massive confidence boost for traders expecting a sharp turnaround toward $0.74 in the sessions ahead.

At press time, XRP is stable on the last trading day but up an impressive 3% in the previous week. Even with expanding prices, the average trade volume remains low, around $1.1 billion. At this level, it is lower than average, attributed to a decrease in weekend activity.

Today, the following XRP and Ripple news events might influence price action:

• Crypto regulations in the United States are being refined. As they are, some analysts think it restricts innovation, giving an edge for other countries to take over. For this reason, Brad Garlinghouse, the CEO of Ripple, is banking on XRP to benefit from the adoption in countries beyond the United States.
• XRP prices will be shaped by how the court rules. However, the rate at which the coin rises will be accelerated by BTC gains post-Halving. Currently, Bitcoin is flat, but the trading community remains bullish.

XRP Price Analysis

 XRP/USD is firm, adding 3% in the last week of trading.

At over $0.53, the coin is moving higher, trading above a local resistance, now support.

As it is, aggressive traders can load on dips, targeting $0.54—or April 13 highs—and later $0.57.

If bears flow back, reversing the weekend’s gains, a breach below $0.46 will mark the continuation of the April 13 bar—which remains the dominant trend even with the current signs of strength.