TLDR Breakdown
- Ripple price trading at $0.28221 at press time
- Ripple price prediction indicates bullish November trend
- Ripple price predicted to reach $0.3200 by Jan 2021
Ripple price prediction: Today’s price overview
Ripple price opened at $0.26952, where it consolidated for a while before bullish momentum kicked in. At press time, the price is at $0.28221, showing a 4.71 percent increase from the day’s opening price. The price is following the bullish trend it has followed throughout November.
Ripple price movement in the last 24 hours
XRP price opened at $0.26952 with a slight bullish momentum that died soon. The price consolidated for the next five hours before buyers took control of the momentum. The buyers remained in control between 05:15 UTC and 08:15 UTC before meeting resistance at $0.27470. After consolidating for another few hours, the buyers rallied, and the price rose to $0.28324 at 13:30.
Since then, the price has consolidated between $0.28387 and $0.28153 with more red candlesticks than bullish. On the technical indicators, the MACD shows that the buyers have been in control since 07:30 UTC. The indication has only grown more bullish in recent hours.
If the buyers maintain the current momentum, traders can expect the price to ascent above the $0.30 level. However, the next 60-90 minutes would confirm this prediction.
XRP USD 1-hour chart
The chart above depicts the price action of XRP/USD between 16:00 UTC and 17:00 UTC.
The hour started with the Ripple price action canceling the gains of the last two hours, and the MACD began showing signs of a turnover. However, the price found support at $0.27903, as depicted in the 24-hour chart. The buyers also showed that they were not done and regained control of the price. The MACD turnover was canceled and turned more bullish.
Despite that, the selling momentum was not exhausted, as shown in the multiple red candlesticks. However, the high bullish momentum only allowed consolidation for 30 minutes before again charging at higher resistance levels. The bulls show exhaustion, and traders can expect the price to drop to $0.28396 before finding support to climb to higher levels.
XRP USD November chart
The November chart shows an ascending trendline that affirms our predictions. While the month had a slow start, the price found support at $0.22803 that enabled the price to ascend throughout the month. The ascending trendline formed a support level for the price enabling the buyers to rest between bullish rallies. As we move into the latter part of November, the ascending trendline is expected to continue supporting the bullish movement.
The MACD 4C indicator had a turnover on November 5 and has remained in the bullish territory since. Despite showing signs of exhaustion several times, the MACD went deeper into bullish territory, showing that the bulls have the potential of taking the price higher.
Ripple price prediction: Where is the XRP price heading?
Across the year chart depicted above, we can observe that since the crash in March, the XRP price has found support enabling ascension through August. Predictions indicate that the XRP price might cross the $0.3200 level by January 2021 if it follows the ascending trendline seen since August.
The MACD 4C technical indicators show that the bulls have been fighting the bearish resistance from late-August to early November. As Bitcoin closes up to its all-time high level, altcoins are expected to trace its movement. Similarly, the XRP price can also be expected to rise once again. Hopefully, the price will ascend to February’s high of $0.34.
