Crypto News

Ripple Price Analysis & Prediction (Nov 15th) – These Levels Must Break to Determine the Next Price Movement as XRP Calms

Most top cryptocurrencies are currently calm, including Ripple’s XRP, which now moving sideways after it established support above $0.32. How long and strong this support can hold price actions is yet to be ascertained.

After last week’s crash, XRP’s price decreased by roughly 35% after its monthly high of $0.51. The heavy crash plunges the price significantly below a key support level of $0.44.

This level has turned resistance as the price dips lower to the $0.317 level. The price later recovered slightly from this level.

Over the past 24 hours, the price has increased by almost 12% as the market experience a break of the bloodbath. Due to more recovery, the coin has been trading between the range of $0.32 and $0.4 price levels for the past few days now.

These mentioned price levels now act as support and resistance, marked orange on the 4-hour chart. Currently, the price is increasing towards the above resistance level after yesterday’s bounce. We can expect a reaction once the price reaches this resistance.

However, if the price breaks above, it would confirm a fresh increase for XRP. Should the price later break below the current holding support, we can expect the recent bearish scenario to resume.

A continuous rejection at these range levels will likely keep XRP calm until a notable break occurs on either side.

Ripple Price Analysis (XRPUSDT): 4-Hour Chart

Source: Tradingview

As the market still looks dicey on the current 4-hour chart, let’s consider a key level to watch in case of volatility expansion.

In an upward direction, a significant increase above the $0.4065 resistance level could rally the price to an immediate resistance level of $0.44 in no time. The $0.487 level will be the next buying target if the price keeps rising.

In a downward direction, XRP would first need to bridge the $0.32 support level before it drops further to a key support level of $0.3. the support to watch below this key level is $0.27.

Key Resistance Levels: $0.4065, $0.44, $0.487

Key Support Levels: $0.32, $0.3, $0.27

  • Spot Price: $0.385
  • Trend: Bearish
  • Volatility: Moderate

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: dusanzidar/123RF // Image Effects by Colorcinch

Leave a Comment

Your email address will not be published. Required fields are marked *