Bitcoin's price has risen above $31,400 following XRP's recent surge. The cryptocurrency could experience further gains if it manages to close above $32,000. Bitcoin has broken through resistance levels of $31,000 and $31,400 and is currently trading above the 100 hourly Simple Moving Average.

Technical indicators show that the MACD is losing pace in the bullish zone, while the RSI for BTC/USD is above 50. Immediate support is near the $31,200 level, while major resistance levels are at $31,650, $31,800, and $32,000.