Watch out For $XRP ❄️🔥🚀

A 7% surge in XRP, the cryptocurrency that fuels the XRP Ledger established by US fintech company Ripple Labs in 2011, has been observed in the past seven days, with over 3.5% of these gains occurring within the last 24 hours, subsequently propelling XRP to $0.60 for the first time since mid-August on Tuesday.

Following support at its 200DMA last week, XRP has maintained a robust upward trajectory, breaking free from a range of around $0.46 to $0.55 that persisted for approximately two months.

As per on-chain tracking website Whale Alert, 30 million XRP tokens were recently withdrawn from Bybit and relocated to an unidentified wallet.

Considering that XRP has now reclaimed levels above the resistance zone at $0.5850 and has surpassed its previous range of $0.46 to $0.55 that spanned several weeks, the potential for price growth appears to be strongly skewed towards the positive side.

The substantial rebound from the 200DMA further reinforces optimistic price forecasts.

In the event that Bitcoin's upward trend persists and Ripple maintains its advantageous momentum in the SEC lawsuit, there seems to be no hindrance to XRP's potential return to its yearly highs in the $0.90s.

A revisit to these annual highs would signify a 60% surge from the present levels, positioning XRP as an appealing risk-reward prospect for numerous long-term investors, even in light of the recent market upswing.