The Ripple price prediction by Solldy suggests a fall towards the $0.231 level once the price moves into a short trade. The cryptocurrency gradually made it across $0.256 after falling on the 10th of November.
1-Day Ripple price analysis
The altcoin was priced at $0.25692 at the time of writing. At its highest for the day, the cryptocurrency approached $0.264.
Ripple price prediction: Fall ahead?
We can see that the cryptocurrency is trading inside a triangle pattern and it has been riding above and below the falling resistance line. The analyst believes that the price will move into a short position level up next. This short position here appears as a sell signal, and it is suggested that the traders sell so that they gain profit when the price falls to $0.23154.
This falling resistance in red has been tested multiple times in September and October, and in November as well. The analyst is of the opinion that the price will fall towards the flat support at $0.231. The cryptocurrency confirmed supported here on the 2nd of November.
The price was trying to bounce off the falling resistance that originated in August 2020. The analyst explained that the cryptocurrency’s price did not possess enough momentum for a strong descent, which is why the cryptocurrency is moving towards the resistance level. The support level originated in March 2020 and it has pushed the price upwards several times. This means that the support level is strong enough to hold the price.
What’s next for Ripple?
The chart below shows a long descending channel that originates in 2018, and the cryptocurrency is expected to come out of the pattern soon.
The analyst stated that if the price returns to the midline from the top of the channel, it will take the midline as support and gradually move out of the channel to see an uptrend. The ascension is expected to lead the price toward $0.688 in 2021. This is the weekly chart for XRPUSD, and the cryptocurrency has high chances to go bullish after escaping this 3-year long falling channel.
Ripple might see a breakout soon
XRP has been traveling in a descending triangle since 2018, and the price has recently moved above the pattern. Seeing no major inclines yet, the price traveled close to the broken trendline of the descending triangle.
The analyst highlighted another falling trendline on top of the trading pair and they have suggested that this green trendline needs to be broken before the price can see any major ascension. Per the analyst’s chart, the price will see a huge rise with a potential new all-time high around the $170 mark. The Relative Strength Index (RSI) seems to be rising on the scale as well.
What to expect from XRP?
Vince Prince’s chart shows an ascending channel, and the price has broken above a major descending trendline. The analyst has depicted a fall up next, which will follow a rise toward the $0.27 level. This rise will conclude at the top of the channel, and the resistance that will follow will be enough to make the price turn bearish and fall below the lower boundary of the channel. The price is expected to fall toward the $0.198 mark after this trade is completed.