• XRP is approaching the critical $0.6533 resistance, with bullish indicators suggesting a strong upward potential.
• Active addresses and transaction growth reinforced a positive sentiment for a breakout.

Ripple [XRP] was rapidly approaching a crucial resistance level of $0.6533 at press time, sparking renewed optimism among traders and investors.

Trading at $0.5849, with a 6.06% gain, XRP appeared ready to challenge this barrier.

Could a successful breakout lead the cryptocurrency toward the next target of $0.7463, potentially ushering in a new phase of bullish momentum?

Is XRP ready for a breakout?

XRP’s price has been on an upward trajectory, closing in on the significant resistance at $0.6533.

Previous attempts to break this level have resulted in pullbacks, but recent gains and higher trading volumes suggest that XRP may now have the strength to surpass it.

If this level is breached, it could open the path to the next target at $0.7463.

Key technical indicators further support a bullish outlook. The Average True Range (ATR), which measures market volatility, has risen to 0.0217, indicating increased trading interest and potential for a big move. 

Additionally, the Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the MACD line at 0.0083 and the signal line at 0.0048.

The positive histogram bars further strengthened the case for upward momentum, suggesting that XRP’s bullish trend could continue if it successfully breaks resistance.

On-chain signals signify growth

On-chain metrics also aligned with the bullish sentiment. According to Santiment analytics, the daily active addresses have recently reached 21,327, indicating increased engagement on the network at press

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Author: Erastus Chami