The market’s attention has turned to XRP as numerous altcoins see significant upticks. Currently hovering below the $0.5 mark, there is anticipation for a price surge. XRP, the sixth-largest cryptocurrency, has seen an influx of funds, hinting at a bullish breakout. However, the unresolved SEC lawsuit has prevented any substantial rally. XRP has seen a spike in interest from institutional investors, with a recent analysis showing a triumphant performance. Inflows have reached $240,000 in the past week, contributing to XRP’s growing value of $6 million this year. The entire market has experienced a wave of optimism, with $199 million pouring in. Bitcoin has reaped the majority of the benefits, accounting for 94% of the total inflows. Despite this, XRP may benefit from a ‘buy the dip’ sentiment as Ripple expands globally. Currently, XRP is facing selling pressure below the EMA50 trend line, with bears defending the $0.5 resistance. The neutral momentum among traders could lead to a big move if the battle between bulls and bears intensifies. XRP is currently trading at $0.48, declining over 2.5% in the last 24 hours. If it drops below the support line, sellers could dominate and push the token below $0.44. On the bullish side, a breakout above $0.5 could lead to a test of the current support line and potentially a bullish reversal.
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