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- Ripple price prediction expects a rise to $0.255.
- XRP is facing strongest resistance at the $0.243 mark.
- Ripple has the strongest support at the $0.237 mark.
The Ripple price prediction by Vince Prince has shown that the cryptocurrency will soon test the $0.255 level, after which it will follow a price rejection and continue moving downward. The price head the $0.239 level over the 1st of November.
1-Day Ripple price analysis
The cryptocurrency was priced at $0.239 US Dollars at the time of writing. On the 1st of November, the price fell to a day’s low of $0.236.
Ripple price prediction: XRP to hit $0.255?
Looking at the chart, we can view that the cryptocurrency had formed a fractal in the first phase of the trade, while the cryptocurrency accumulated around the $0.23 level.
The price stabilized at the accumulation level, and it pushed upwards in the ascending channel before moving towards the second phase. This is when the price volatility increased as well, after which the price observed a reversal towards the downside. At this point, the price started to push down, and the price can be seen consolidating above the lower support marked in blue.
The price is expected to form another markup and move towards the $0.255 level, where it will hit the upper resistance of the setup and the lower boundary of the up-channel. This resistance cluster will cause the price to turn downward.
Ripple shows a double bottom
The Trading View analyst Lob FX Empire has observed a double bottom pattern on the daily time frame, and they believe that the price is about to see an uptrend on the charts.
Per the analyst, the price will head upwards by 25% over the next few days, and the cryptocurrency is expected to rise on the 3rd of November following Bitcoin BTC. The analyst believes that once the current daily candlestick closes over the next 20 hours with the current weekly candlestick, the price will go up. The double bottom pattern is a bullish indicator; the cryptocurrency hit bottom at the $0.23906 mark.
XRP to move short to $0.228?
YM Group expects the price to short very soon, where the cryptocurrency will break the support structure that it is currently trading above.
Per the analyst, the price will move towards the $0.228 support soon, which is where they take profit level lies for this trade. The stop-loss order is marked near the $0.245 resistance. The current structure has supported the cryptocurrency since the 30th of November, and the price has not shown any signs of a breakout towards the downside. However, the trade volume has decreased over time.
What to expect from Ripple?
Per the chart below, the altcoin is in a big triangle pattern, and there are two trends that the XRP price could follow.
If the XRP price moves below the triangle, it will hit below the $0.20 level and go towards the support line formed here in red on the chart above. If the price tests the upper boundary of the triangle and breaks through, the cryptocurrency is expected to hit the $0.30 mark.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
