- Ripple price prediction expects a possible fall.
- Ripple is standing at the $0.25 high.
- Strong support is found at the $0.23 level.
The Ripple price prediction by Vince Prince suggests a fall towards the $0.23 mark. On the 5th of November, the price observed increased volatility as it moved towards the $0.246 level.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.25068 US Dollars at the time of writing. The price saw a high of $0.25334 over the 24-hour trade.
Ripple moves above down-channel
The chart below shows that the cryptocurrency has been trending down inside a falling channel from the 22nd of September. Solldy’s expectations lied with the continuation of the fall; thus, the idea suggested that the price would hit the lower boundary of this down-channel by entering a short trade.
In the afternoon of the 5th of November, the cryptocurrency turned bullish and broke above the down-channel’s upper boundary. The price returned above the $0.25 level following the successful breakout. The cryptocurrency had tested the channel at five different points previously. Ripple has moved above the $0.25 level, and if it forms a support level here, then the price will see a continuation in its ascension.
Ripple price prediction: Fall ahead?
Looking at the chart below, XRP has been trending down in the long channel drawn by Vince Prince. The cryptocurrency formed a wave count while it entered an upward triangle, and its lower boundary acted as an ascending trendline, which led the cryptocurrency above the main up-channel. The price broke out of the channel on the 5th of November, after which it saw a downtrend towards the broken trendline followed by a bounce off that allowed the altcoin to move up.
Per the analyst, the price would see a pullback and then another bounce towards the upper boundary of the triangle, but the price only saw an uptrend across the triangle pattern. The uptrend allowed the cryptocurrency to break above it at the start of the 6th of November. The price was expected to see a resistance cluster near the $0.25 level, which would have caused the cryptocurrency to see a fall towards $0.23. However, the cryptocurrency currently appears to be trending above the $0.25 mark.
What to expect from the XRP price?
Ripple is in a consolidation zone from the start of September 2020, the coin had fallen to this zone after a long wave count.
The analyst marked multiple ascending trendlines on their chart, and the price had fallen towards this trendline at the start of March. The longer one originated in January, while the second one started in March. The wave pattern can be observed in the chart above. The analyst believes that the current consolidation zone will soon be broken towards the upside by the cryptocurrency. The breakout is likely to result in a big ascension. The idea shows that the cryptocurrency will rise towards the $0.40 mark after this breakout.
Ripple breaks above $0.247 resistance
YM Group’s prediction for XRP came into play on the 5th of November when the cryptocurrency turned bullish and followed a price run towards $0.247. The cryptocurrency has now broken past the $0.247 flat resistance and has moved to $0.252. If the cryptocurrency holds the newly formed support, the price will see to a further uptrend.
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.
