- XRP price expected to rise above $0.31
- Ripple price held below the $0.30 level
- The price move sideways over the charts for the 18th of November
The Ripple price prediction by Vince Prince suggests a rise across the $0.31 mark ahead once the cryptocurrency confirms the breakout and closes above the falling resistance near $0.29.
1-Day Ripple price analysis
The cryptocurrency observed sideways movements over the trade for the 18th of November. In the afternoon of the 19th of November, the cryptocurrency’s price shot towards the $0.30 level, where it observed a day’s high of $0.301. Ripple was priced at $0.297 at the time of writing. The cryptocurrency has spiked by around $0.11 over the past couple of hours.
Ripple price prediction: What to expect?
The trading pair has been ascending over a trend line from the 11th of November per the chart below. The price has approached a descending trend line that has acted as a resistance for a while. The analyst highlighted a head and shoulder’s pattern, and they believed that the price will either break above the falling resistance and continue trending over the trend line, or fall below the trend line and trade below the resistance line.
The cryptocurrency has moved above the descending resistance line on the 19th of November. If the trading pair confirms this breakout above the trend line, the price will move across the $0.31 mark. A bullish breakout here will form after the price regains strength above the descending resistance line by retesting here.
Ripple technical indicator movements
The cryptocurrency’s price is expected to move sideways per the crypto analyst. The price observed resistance by the upper Bollinger band after it rode the band during the expansion of the Bollinger band.
The trade volume for XRPUSD has increased with an increase in the price. It also saw a downward movement when the cryptocurrency’s price saw a decline. This means that the buying pressure has strengthened for the altcoin. The Moving Average Convergence Divergence (MACD) line is moving towards the signal line from the upper side. The histogram size is decreasing in the negative region. This means that the cryptocurrency has a bullish bias as of now.
The Relative Strength Index (RSI) closed around 68, which is still the neutral zone. However, the technical indicator recently observed a pullback from the overbought zone. The Commodity Channel Index closed at 132. This shows that the cryptocurrency is in the overbought region and indicates a downtrend.
The technical indicators seem to have different indications right now, and the market suggests a sideways movement over the next day, per the analyst.
What’s next for Ripple?
The chart below suggests that the cryptocurrency will soon reach the entry-level to a short position after seeing high resistance near the $0.32 mark.
Per the analyst, the price will fall towards the $0.22 mark, and then towards the $0.19 level. The chart is weak overall, per the analyst, and the correction mode will come up soon for XRP. Due to the high resistance at the top of this trade, the price may only see a limited uptrend. This idea is expected to come into play over the next 1 to 6 weeks.