TLDR Breakdown
- Ripple price prediction expects a rise to $0.31.
- Bitcoin high is creating a bullish market momentum.
- Analyst expects a rise in the Ripple price.
The Ripple price prediction by Alan Masters suggests that the price will rise towards the $0.396 mark next. The cryptocurrency has recently been trending up on the charts following the new Bitcoin all-time high for 2020. At the time of writing, XRP is headed into a possible inverse head and shoulder, and upon completion, the prices are likely to break past the $0.31 level.
1-Day Ripple price analysis
After trending upwards on the 16th of November, the altcoin market continued to climb on its charts. The XRP price finally moved across the $0.30 level. At the time of writing, the cryptocurrency was observed at $0.29. The highest trading value for the 24-hour trade was at $0.308, while the lowest for the day was at $0.284.
Ripple price prediction: What to expect?
On the charts, we can see that the cryptocurrency has recently broken above a descending trendline, and now it will move towards the upside.
The cryptocurrency fell into this huge trading pattern in August 2018. The cryptocurrency has been trending downwards ever since, and the price has finally hit the bottom of the descending triangle. The price broke towards current prices at the end of July 2020. The analyst believes that the cryptocurrency will gradually move towards the $0.80 mark from here.
The analyst also explains that the next major resistance lies near $0.55. Once the XRP price passes the $0.32 to $0.35 levels, it will make a run for the $0.55 resistance. A break above that resistance will be followed by a test for the $0.80 range.
Looking at the technical indicator, we can see that the Moving Average Convergence Divergence (MACD) line is moving up on the scale after crossing the signal line. The histogram size is also increasing in the positive region. This only means that the cryptocurrency is going to see a continued uptrend ahead.
Ripple price can hit up to $0.396?
Analyst Alan Masters highlighted a falling trend line for the XRPUSD pair. The cryptocurrency seems to have been traveling under this very trend line since August 2020.
The price turned bullish and broke towards the upside on the 14th of November. The analyst believes that the price will continue upwards and reach the next target at $0.39685. We can see that the trade volume has significantly increased for the trading pair, and the pair is also forming green candles on the chart.
On the chart above, the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) technical indicators appear bullish. The MACD line has crossed above the signal line and still appears to be increasing while the histogram size grows in the positive region.
Per the XRP price analysis by Solldy, the cryptocurrency is set to move to the resistance near the $0.318 mark. The price is expected to get rejected at this falling trend line.
The falling trend line was previously tested by the XRPUSD pair on the 17th of August. The cryptocurrency could not break above the trend line, and now the price is looking to retest it. Per Solldy’s opinion of the XRP market, the price will turn bearish after this testing of the falling resistance, and the cryptocurrency’s price will fall to a level placed just short of the $0.28 mark.
