CryptoSignals News

Join Our Telegram

Ripple Is in a Decline as It Revisits the $0.40 High

November 23, 2022

#Price Analysis#RIPPLE#XRP#XRP/USD

Ripple (XRP) Long-Term Analysis: Bearish
Ripple (XRP) has been ranging between $0.31 and $0.40 as it revisits the $0.40 high. The altcoin is currently surging to retest or break the $0.40 resistance. The cryptocurrency will begin to trend once the range-bound levels are crossed. Sellers are attempting to break through the existing support as a result of an unsuccessful upward corrective, according to all the signs. XRP has fluctuated above the existing support as a result of the price war between buyers and sellers. If the bears succeed in breaking through the $0.31 support, the downside is that XRP will further decline to a low of $0.20. On the other hand, the altcoin will restart its upward trajectory if price spikes and breaks through the resistance level at $0.40. The upward trend will last till a $0.50 high.

Ripple (XRP) Indicator Analysis
On the Relative Strength Index, Ripple is at level 38 for period 14. XRP is in a downtrend zone and may continue to decline. Price bars have persisted in trading below the moving average line, suggesting that XRP will continue to decline. The cryptocurrency is moving in a bullish direction at level 30 of the daily Stochastic. Momentum for the bulls has been fragile recently.

Ripple Is in a Decline as It Revisits the $0.40 High
XRP/USD – Daily Chart

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)?
As it starts moving up once more, Ripple is in positive momentum as it revisits the $0.40 high. The present upswing is most likely to reach an overbought area, where a decline will occur. According to the Fibonacci tool, XRP is expected to keep dropping below the $0.31 support. On November 9, amid the downturn, XRP made an upward adjustment, and a candle body tested the 61.8% Fibonacci retracement line. According to the correction, XRP will drop to the Fibonacci extension’s level of 1.618, or $0.19.

Ripple Is in a Decline as It Revisits the $0.40 High
XRP/USD – Daily Chart

You can purchase crypto coins here. Buy LBLOCK

Note: 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

Join Our Free Telegram Group

We send 3 VIP signals a week in our free Telegram group, each signal comes with a full
technical analysis on why we are taking the trade and how to place it through your broker.

Get a taste of what the VIP group is like by joining now for FREE!

Join Our Telegram