TL:DR Breakdown
- Ripple price prediction analyst believes that the altcoin can hit $0.75 next.
- XRP is currently retesting the $0.67 high.
- Strong support is now found at the $0.65 mark.
- Bitcoin price is rising and keeping the market afloat with it.
The Ripple price prediction by Solldy has suggested that the cryptocurrency’s price will rise to the $0.75 resistance again. The cryptocurrency moved above the $0.67 mark on the 30th of November. While some believe that the Bitcoin price movement is not affecting the altcoin market, it appears that the king is actually keeping the market afloat.
1-Day Ripple price analysis
The XRP was observed trading at the $0.6576 price level at the time of writing. The cryptocurrency stepped above the $0.67 level over the day’s trade as it concluded towards the bullish side. The highest price achieved by the altcoin on the 30th of November was $0.6728, whereas the lowest price for the cryptocurrency was recorded at $0.59930. The overall trend for XRP on the 30th of November was bullish.
Ripple price prediction: Another move to $0.75 ahead?
The XRP price has been trending upwards on an ascending trend line from the 20th of November. Per the analyst, the price will continue to move upwards until it retests the $0.75 flat resistance level.
Previously, the $0.75 resistance was tested on the 24th of November when the cryptocurrency was extremely bullish. The price had fallen bearish, and then it moved towards the $0.47 support level again. Over the past couple of days, the XRP price has been gradually moving towards the upside, and it is expected to continue this ascension until it re-hits the resistance. The resistance zone is between the $0.75 and $0.80 price levels.
Per the analyst, the price has bounced off the resistance zone that originated in 2018, while it also broke through an important line that also originated in 2018. The price is currently growing towards the resistance zone, where the target price for this trade is marked.
What’s next for XRP?
Vince Prince has highlighted an ascension channel for this altcoin. Per the analyst, the price should rise towards the $0.71 resistance before falling bearish and moving below the up-channel.
The trade volume for the cryptocurrency was substantially high over the last week, and now it has reduced by a lot. The price, however, seems to be gradually increasing in the up-channel while it rides the mid-line. The analyst believes that the cryptocurrency will turn bearish and fall below the channel after bouncing off the upper boundary and the flat $0.71 Fibonacci resistance that lies above.
Vince Prince’s chart shows that the price will fall bearish towards the $0.48 mark once it breaks below the up-channel. The analyst expects the price to bounce from this bottom of the trade setup.
What to expect from Ripple?
Looking at the chart below, we can observe that the 20-Day supports the altcoin’s price and 50-Day Exponential Moving Averages, and the price was expected to break upwards from the down-channel marked inside a flat channel.
Per Signal Center, the cryptocurrency will rise towards the $0.70 mark. This is a trading opportunity for the buyer market as the price is expected to go long from here and move upwards. The stop-loss was placed at $0.62970.
The take profit targets for this trade setup are at $0.7079 and then $0.7341. The price had previously fallen below an ascending trendline after its continuous ascension over the last week. The price had moved to the bottom and near the $0.47 support from where it bounced towards the upside. Cautious trading is, however, key to success.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
