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Ripple Price Analysis (XRP), November 19, 2020. Over the past week, Ripple made positive moves until November 17, when it hit a high of $ 0.305.
Long Term Price Prediction of Ripple (XRP): Bearish
Buyers reached their target price at their recent high, but failed to sustain the uptrend until the previous highs. In the first uptrend, XRP held out but the coin turned back to retest the resistance the next day.
On November 18th, the bulls broke the resistance level as the price rose to a high of $ 0.308. As a result, the cryptocurrency was pushed back as the coin plunged to the low of $ 0.282. Buyers have made concerted efforts to push the XRP higher, but face another rejection twice as high as $ 0.295. XRP is now trading at $ 0.286 at the time of writing. The altcoin will continue to decline if it breaks down of the support of $ 0.27. However, if the current support holds, the bearish scenario will be invalidated.
Ripple Indicator Analysis (XRP)
Ripple is turning back after rejection from the high of $ 0.305. The selling pressure will persist if the price retraces and breaks below the bullish trend line. The price also broke the 21-day SMA and if it breaks below the second moving average, it will be in the downtrend zone.
Key resistance zones: $ 0.35, $ 0.40, $ 0.45
Key Support Zones: $ 0.25, $ 0.20, $ 0.15
What’s the next move for Ripple (XRP)?
Ripple is easing as bears attempt to push XRP to the previous low. Since the downtrend of November 18, the price has corrected upwards. The retracement candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that Ripple is likely to fall as low as the 1.618 level of the Fibonacci extension. This is the coin will drop to a low of $ 0.263.
Disclaimer. This analysis and prediction is the author’s personal opinion and not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing the funds.
