Ripple (XRP) Faces Rejection at $1.30 High, May Decline to $1.15 Low
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Ripple (XRP) Long-Term Analysis: Bullish
On November 8, Ripple’s (XRP) price has retested the $1.30 resistance zone twice but could not sustain the bullish momentum above it. Ripple would have regained the previous price level of $1.41. Nonetheless, after two unsuccessful attempts, XRP has resumed a downward move. XRP price has broken below a crucial support at $1.25. The selling pressure is likely to continue to the low of $1.15.
Ripple (XRP) Indicator Analysis
Ripple has fallen to level 59 of the Relative Strength Index period 14. The crypto is in the uptrend zone and above the centerline 50. The cryptocurrency is likely to rise on the upside. Ripple has a bullish crossover and moving averages are sloping upward indicating the uptrend. XRP is below the 20% area of the daily stochastic. The altcoin is in the oversold region of the market. Buyers are likely to emerge in the oversold region.
Technical indicators:
Major Resistance Levels – $2.00, $2.50, $3.00
Major Support Levels – $1.50, $1.00, $0.50
What Is the Next Direction for Ripple (XRP)
Ripple is in a downward move after the recent rejection. XRP has fallen above $1.22 support. If the support holds, the uptrend will resume. Otherwise, the market will decline to $1.15 and resume upward. Meanwhile, on November 9 downtrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that XRP price will rise to level 2.0 Fibonacci extensions or $1.15.
You can purchase crypto coins here. Buy Tokens
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results
