XRP is testing a crucial resistance level amid market uncertainty following the Federal Reserve’s rate cuts. Top analyst Amonyx suggests XRP could surprise skeptics with gains exceeding 1,000% if it breaks above this level.

Amonyx's analysis highlights a bullish pennant pattern forming since 2018, indicating possible buying pressure. If XRP breaks above this resistance, it could surge to $70 or even $500, though skepticism remains high.

XRP is trading at $0.53, struggling to regain the 1D 200 MA and EMA at $0.54. Failure to close above these levels could trigger a correction, with support around $0.48 or lower.