Ripple's price experienced a significant increase of nearly 10% before retracing to its current trading value. This has led investors to speculate whether a new bullish trend is emerging for the cryptocurrency. However, an important resistance level must be surpassed before any conclusions can be drawn.

On the USDT paired chart, Ripple's price is breaking above both the 50-day and 200-day moving averages, converging around the $0.52 mark. If the market remains above this area, the key resistance level of $0.55 would be the next target. A successful breakout from this level could trigger a new rally in XRP's price, potentially reaching the $0.9 level in the coming months.

In the BTC paired chart, the situation appears similar, with the price being supported by the 200-day moving average and climbing above the 50-day moving average around the 2000 SAT mark. A successful bullish breakout could lead to a surge towards the 2200 SAT zone in the short term. The RSI indicator has also broken above the 50% threshold, indicating that momentum is in favor of the buyers.