XRP Poised to Rally as Bitcoin Surges Ahead of Halving Event

• Ripple (XRP) price could rally as Bitcoin's price increases ahead of its halving event this month. XRP is highly correlated with Bitcoin.

• XRP has room for further profits as only 83% of supply is currently in profit, below the 95% threshold that typically signals a market top.

• XRP managed to break out of a descending triangle pattern, a typically bearish signal, securing support at around $0.60.

• If XRP holds support at the 50% Fibonacci level, it could rally toward $0.6500 next.

• If XRP falls back into the descending triangle pattern, support lies at the 23.6% Fib level around $0.5559.