The recent climb above the resistance of $0.2400 is ajob well done for the XRP bulls. The third largest crypto asset by market capis gradually rising and shows positive signs for further surge.

The price of XRP is trading above the $0.2200 and manyXRP enthusiasts look forward that it could hit the $0.3000 level. In fact,based on the data provided by Kraken, there’s a formation of connecting bullishtrend line with the support level close to $0.2405 on the XRP/USD pair hourlychart.

In addition, the XRP/USD pair comes with a strongsupport on dips close to the levels of $0.2400 and $0.2320 in the next days.

XRP’s First Target

Traders continue to turn bullish on XRP and consider$0.30 as the first target.

Crypto trader and analyst Galaxy noted that the recentmarket behavior of XRP displays some signs of strength. For the crypto assetstart getting closer to its first target, it requires to break the resistancelevel of $0.25.

Meanwhile, XRP enthusiast Joker shared a monthly chartfor XRP saying that the crypto forms a bullish flag. He also noted that the newall-time high for XRP is approaching. Once the price surges, everyone canexpect for $5.73 TP. If not, the crypto will turn bearish and the estimated TPwould be $0.005.

Any Possible Downside Consolidation?

The previous resistance close to the $0.2400 levelwill act as a support. However, in the case of downside break below the $0.2400level alongside with trend line, then the price of XRP will further collapse.

The XRP’s nexr support would be close to $2380 and itwould coincide with the Fib retracement level of 50% transferring from $0.2293low to $0.2464 high.

As for the key support, it would close to the $0.2320.Below that level, the XRP’s price will potentially struggle maintaining thepositive price level in the next few days.

Is the Surge of XRP Remain Dependent on Bitcoin?

Despite the readiness of XRP to break higher, itsprice remains dependent of that of Bitcoin. In short, if BTC does not rally,then XRP will not either.

Fortunately, the XRP bulls can gain strength in thenear term because the Bitcoin’s fundamentals and technicals suggest.

Whether or not the hash rate and prices correlatebetween of that of XRP, the fact that miners work harder to take out resourcesinto the mining cryptocurrencies foretell that there will be a long-term trendacross the crypto space.

The crypto market might encountered some challengesduring the first weeks of the year, major altcoins like XRP trade well. Itactually gained 15% weeks ago.

Although the price of XRP climb above the $0.2400level, there is still a huge potential that it will hit its first target whichis $0.30. Besides, the XRP bulls are now ready to break the $0.2500 level toensure that they will achieve the next target.