XRP price prediction $055 target in sight as rally gathers pace

The price of Ripple’s token is increasing and has surpassed the $0.50 resistance against the US Dollar. It may continue to rise towards the $0.525 and $0.550 resistance levels. There is a bullish trend line forming with support near $0.4910 on the 4-hour chart of the XRP/USD pair. Ripple’s XRP saw a decent increase from the $0.420 support against the US Dollar in the past few days and moved into a bullish zone, outperforming Bitcoin and Ethereum. The price is currently consolidating gains and trading above the 23.6% Fib retracement level. The initial resistance is near the $0.5050 zone, with the first major resistance being near the $0.525 level. If Ripple fails to clear the $0.505 resistance zone, it could start a downside correction. Technical indicators show that the MACD for XRP/USD is now gaining pace in the bullish zone, while the RSI for XRP/USD is now in the overbought zone. Major support levels are at $0.491, $0.474, and $0.450, while major resistance levels are at $0.505, $0.525, and $0.550.