- Ripple price prediction expects a further rise.
- Ripple price is moving back towards August highs.
- Strong support is found near the $0.29 level.
The Ripple price prediction by Kyer suggests a move towards the $0.2994 level. The cryptocurrency rose to the $0.29 mark on the 16th of November, and the current flash rise at the time of writing suggests that the prediction may be right.
1-Day Ripple price analysis
We can see that Ripple has formed an ascending slope on the charts for the 16th of November. The price moved towards the $0.295 level right after closing the day’s trade. At the time of writing, the altcoin was trading at $0.2932.
Ripple price prediction; move to $0.299?
Per the setup shown below, we can see that the price has formed a monthly support level near $0.245. The bottom of the trade setup lies at $0.229, and the altcoin has been trading above an ascending trend line that has led it towards the monthly resistance.
There are two trend lines in the $0.229 to $0.299 range. One of the cryptocurrency was supported, and it broke across the second one on the 16th of November. The price has entered the resistance region after breaking above this ascending triangular pattern. The analyst expects the price to test the $0.29944 resistance, while the first take profit was at $0.28527.
What’s next for XRP?
XRP has moved above the upper boundary of a broadening wedge pattern that formed on the 4h time frame. The analyst believes that the price will now move towards $0.3057 after seeing a bounce.
The price had been moving inside the broadening wedge from the 7th of November, and it had bounced upwards from a breakout-origin-cluster in the wedge on the 16th of November. The price still appears bullish as it forms green triangles on the chart. The stop-loss is placed at $0.2675, and the bottom support was marked at $0.2549.
The analyst expects a strong move above this upper boundary for the continuation of Ripple. This is because the trading pair has managed to confirm the upper boundary marked on the chart, and a bounce should now occur here, per the analyst.
What to expect from Ripple?
The monthly chart for Ripple shows that the cryptocurrency is still inside the huge yearly ascending channel, and now it is about to break the 3-year symmetric triangle.
Looking at the chart we can see that the cryptocurrency broke a similar pattern in 2017, after which it turned extremely bullish and eventually moved above the ascending channel. The cryptocurrency has been descending after it hit the second triangle, and now it has moved to the end of the pattern. The analyst expects a breakout to occur here.
Ripple technical indicators
The Bollinger bands showed an increase in expansion after the evening of the 16th of November. The price has formed a continuous ascending slop for the day’s trade, and it rose by above $0.02.
The increased expansion shows an increase in the price volatility of the cryptocurrency. The Relative Strength Index (RSI) closed at 33.87, which is near the oversold region. The Moving Average Convergence Divergence (MACD) line is traveling towards the signal line, and the histogram size was decreasing, which indicates a bullish move.