The price of XRP has broken out of an accumulation that has been occurring for a while over the 12-hour timeframe, giving investors the opportunity to buy into the accumulation.
If XRP bulls sustain the bullish pattern XRP will enter Elliot wave 3 and may have an impulsive leg towards a local high which I believe is around 19.755 to reach 0.62227.
Its immediate resistance level at 0.5575, a break above that level could take the resistance level to 0.5907. If there is a trend reversal, and the selling pressure takes over, the XRP price could drop to the support level of 0.4488. If it reaches the support level of 0.4143 it will invalidate the bullish thesis.
The extremely bullish RSI and the MACD already showing signs of reversal, confirm the upward trend and possible arrival at the target of 0.6227.