TL:DR Breakdown
- Ripple price prediction expects a pullback to $0.45.
- Strongest resistance found at the $0.740 mark.
- Current support found at the $0.680 mark.
The Ripple price prediction by Solldy suggests a fall in the cryptocurrency’s price. The analyst believes that the cryptocurrency is going to move into a short-term trade soon. At the same time, Bitcoin is now becoming a viable alternate option for developing countries.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.68082 at the time of writing. On the 24th of November, the cryptocurrency rose above the $0.74 level, after which it returned towards the $0.66 mark. On the 25th of November, the price varied between the $0.62 and $0.72 levels. For the day’s highest, the altcoin was priced at $0.748, while the cryptocurrency fell to a day’s low of $0.595 at the beginning of the daily trade.
What’s next for the XRP price?
Looking at the chart, we can see that the cryptocurrency has formed a symmetrical triangle over an ascending trend line. Per the analyst, the cryptocurrency looks optimistic for now, and it may move towards the rising support line or attempt a breakout above the triangle from here.
The chart shows that the price will either fall towards the support or observe a breakout. To attempt the breakout, the cryptocurrency will have to test the triangle’s upper boundary and move towards the upside. The breakout towards the upside will allow the price to see a rise towards the higher resistances at $0.79, $0.94, and $1.13.
It can be observed that the XRP price previously saw similar triangle patterns above the same support line. The price has been breaking above these triangles and rising towards the upside. The trade volume has been increasing with time as well.
Ripple price prediction: Short to $0.45 ahead?
Solldy expects the alt to make a descending move from its current standing. The cryptocurrency is predicted to move into a short-position and fall towards the support zone between the $0.41 and 0.47 levels. The XRP price observed consolidation in this zone between the 21st and the 23rd of November, just before it broke towards the upside to test the $0.75 mark.
If the coin tires out and cannot break above the $0.75 resistance, the cryptocurrency will fall bearish and see a move towards the $0.41 to $0.47 range. The target price for this short trade will be near the $0.45 mark, while the stop-loss lies above $0.75.
What to expect from Ripple?
Vince Prince expects an uptrend towards the $0.78 mark, which is where the resistance cluster lies per the chart below. The cryptocurrency is moving on an ascending trend line.
Since the time of publishing, the cryptocurrency’s trade volume has decreased, but it continues to trend with minor sideways movements. The price is expected to rise towards the $0.7842 level before falling to bearish momentum.
Ripple technical indicators movement
The Relative Strength Index (RSI) was marked at 55.75, which is the neutral zone for this cryptocurrency. The Moving Average Convergence Divergence (MACD) line has moved below the signal line, while the histogram size increases in the negative region. This means that the cryptocurrency may see a bearish move ahead.
