$XRP Price Eyes Breakout; Analysts Predict Surge to $0.589 - CoinPedia Analytics

Irma - Sep 3 - - Dev Community

XRP has faced a challenging two weeks, dropping 7% to a low of around $0.54. However, recent developments indicate a potential recovery. Analysts suggest a breakout could push XRP's price to $0.589, sparking a new bullish rally.

"The Moon," a Bitcoin investor, notes that XRP broke through a descending resistance line on its 3-day chart, a bullish signal that could lead to further gains. Javon Marks draws parallels to XRP's 2017-2018 bull run, suggesting another surge might be on the horizon.

Ripple also plans to introduce smart contracts to the XRP Ledger, enhancing its platform and attracting developers. XRP is currently trading at $0.57, above a crucial support level at the daily 200 moving average of $0.565. Holding above this could maintain bullish momentum, while dipping below could signal a bearish trend.

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