- Ripple price expected to retest $0.75 resistance per analyst
- XRP Price observed pullback towards $0.65
- Analysts suggest the price will continue to ascend
The Ripple price prediction by YM Group shows that the price will continue to rise on its charts and retest the $0.75 mark. The cryptocurrency rose towards $0.79 on the 24th of November, after which it observed a pullback to the $0.65 level.
1-Day Ripple price analysis
After the last surge towards the $0.55 mark on the 23rd of November, the cryptocurrency turned bullish on the charts once again and moved past the $0.75 level. Over the 24-hour trade, the price approached a day’s high of $0.79, while the lowest price over the chart was recorded at $0.4466. At writing time, XRP was priced at $0.65392.
What’s next for Ripple?
We can see that the cryptocurrency has been trending downwards on the charts while moving right below a descending trendline. The cryptocurrency has broken above this trend line in April 2020.
This long trend line originated at the end of 2017 when the cryptocurrency moved towards its all-time-high. The price has been moving downwards ever since until recently, when the crypto market saw an ascending surge and moved above the breakout zone marked at $0.34.
The first target for this trade was laid at $0.44 that the cryptocurrency has already met, and now it’s moving towards the second target, which lies at $1.01. The major resistance in this trade setup is marked at $1.94, which is also where the final target lies for this trade. Per the analyst, the price will trend towards the upside and reached the $1.94 mark in a long-term move.
Ripple price prediction: Retest of $0.75?
Per YM Group’s analysis, the price surged towards the $0.75 resistance level on the 24th of November, and the cryptocurrency then returned to the midline of the $0.5 to $0.75 range, at $0.62. The analyst is of the opinion that the coin’s price will bounce off the support near this midline and retest the resistance at $0.75.
While observing the trade volume, one can tell that the trade volume for the XRPUSD pair has increased by manifolds, and the cryptocurrency has been trending upwards from early November. Over the past few days, the price exhibited a bullish uptrend and crossed the $0.75 mark on the 24th of November. The next retest of the resistance here will determine if the cryptocurrency will continue the bullish trend or not.
Will Ripple continue to move upwards?
Per Kyer’s analysis of the altcoin‘s trade market, the cryptocurrency has broken above multiple trend lines and resistances to reach for the $0.79 level. The price will continue to trend upwards and move to the top of this trade setup, as per the analyst’s suggestion.
The idea shows that the cryptocurrency is still bullish and will test the higher resistances at $0.80, $0.899, and finally, the $0.940 mark next. The analyst added that the new targets would keep updated as the price continues to move upwards.