- Ripple price prediction expects a likely fall towards the $0.53 range.
- Ripple managed to hit the $0.68 high but unable to sustain.
- Current support is found at the $0.60 level.
The Ripple price prediction by Vince Prince has suggested that the XRP price will continue to fall towards the $0.53 mark, as the coin has recently broken below an ascending triangle. The cryptocurrency fell below the $0.60 mark on the 1st of December, and now it rests above $0.61. On the other hand, Bitcoin is now becoming stable around the $18900 range.
1-Day Ripple price analysis
The altcoin was priced at $0.613 at the time of writing after trading over the 24-hour chart. The price was kept above the $0.65 mark for the first half of the 1st of December, while the price observed a drastic drop near noon and fell below the $0.6 mark.
The cryptocurrency has been observing sideways movement through the rest of the day, and now it rests between the $0.61 and $0.62 levels. For the day’s highest, the cryptocurrency reached the $0.679 mark, and the day’s lowest price was marked at $0.588.
What’s next for Ripple?
The cryptocurrency has been ascending inside a flat channel from the 28th of November, while the altcoin observed a decline along a descending trendline between the 23rd and the 26th of November.
We can observe that the price is to follow an ABCD harmonic pattern on the charts, and the XRP coin is expected to move above the flat channel to complete this wave pattern. Once the price follows this ascending trend line leading the cryptocurrency out of the channel, the asset’s price will continue ascending on the charts until it reaches the top of the trade setup. At the top, a couple of resistances are marked at $1.04 and $1.07. The analyst believes that the bulls are about to make the market turn very bullish from on here.
What to expect from Ripple?
Solldy created a chart for a long position for the XRPUSD pair. Per the analyst’s idea, the cryptocurrency has been traveling above an ascending trend line that originated on the 20th of November.
The cryptocurrency previously tested the $0.750 resistance, and now it is expected to retest the mark. On the 1st of December, the price fell on the charts and moved to the $0.61 mark. The stop-loss lies at $0.577 for this setup. If the cryptocurrency falls below the $0.57 mark, it will fall bearish and find support near $0.5. This trade is still active, and the analyst believes that there is an on-going buy signal for the XRPUSD pair.
Ripple price prediction: Fall to $0.53 ahead?
Vince Prince’s idea for the XRPUSD pair suggested that the price will rise to the $0.67 mark, and then fall bearish until it moves to the $0.53 or $0.42 levels.
The cryptocurrency recently broke below an ascending triangle, due to which the analyst believes that the cryptocurrency will continue to move bearish on the charts. There are two short-term targets for the cryptocurrency, the first one lies at $0.5387, and the second one was marked at $0.4288. The cryptocurrency is expected to fall to either of the two targets and then observe a bounce-off.