- XRP price expected to reach $0.579 per the analyst
- Altcoin observed another price surge and moved above $0.55
- Ripple price has hit major resistance near $0.5508
The Ripple price prediction by Signal Centre suggests a rise in the price towards the $0.579 mark. The cryptocurrency has been trending upwards for a couple of days now, and it still appears bullish.
1-Day Ripple price analysis
The XRP price was observed at $0.54017 at writing time on the 23rd of November. The cryptocurrency has hit a stop near the $0.55 level after seeing another rise on the charts. The altcoin has seen continuous bullish movements for the past few days, and it has risen above the $0.5 level. The cryptocurrency hit the $0.5555 level for the day’s highest, while the lowest price over the 24-hour trade was $0.4246.
What to expect from Ripple?
Looking at the setup below, we can observe that the coin is under a bullish spell, and it has been moving towards the upside for quite a while now. The analyst believes that the altcoin will move towards the $0.8 mark.
This setup indicates that the cryptocurrency will move even higher on the charts. If we look at the technical indicators, the Moving Average Convergence Divergence (MACD) line is moving above the signal line, and the histogram size has started to increase in the positive region again. This means that the cryptocurrency will see more bulls ahead. The price is set to test higher resistances at $0.617, $0.702, and $0.8. The Relative Strength Index (RSI) closed in the overbought region at 74.30.
What’s next for XRP?
Vince Prince has highlighted an inverse head and shoulders on the 2D time frame. The asset had been ascending over a long rising trend line Q1 2020, and the cryptocurrency formed the inverse H&S below a long neckline that can be seen highlighted in blue on the chart below.
The inverse H&S is a bullish pattern, and it allowed the crypto to break across the neckline and rise towards the flat major resistances that lay at the top of this setup. The cryptocurrency met the higher resistance at $0.5508 on the 24th of November, and Vince Prince expects the price to see rejection here and return to the neckline that lies between $0.29 and $0.33. The price will confirm support near the neckline and observe a bounce-off, leading the price towards the upper resistance again. The trade volume has spiked greatly, as seen on the chart above, and the cryptocurrency trades above the red and green Exponential Moving Averages (EMAs) shown.
Ripple price prediction: Continued ascension?
XRP has drawn an opportunity to move long towards the $0.579 level. The entry-level is marked at $0.507, and the stop-loss was placed at $0.489.
The altcoin has bounced off an ascending trend line shown on the chart above, while the Exponential Moving Averages (EMAs) seem to be trending upwards. This means that the cryptocurrency is still bullish after observing a price ascension for multiple days. The cryptocurrency is expected to rise towards the $0.58 mark next. The daily signals are still bullish, and the trade volume for the XRPUSD pair is still increasing. If the cryptocurrency confirms a break above $0.5, the price will assume a bullish momentum.