XRP Price Analysis – November 22
XRP/USD has made an impressive bullish run as the crypto rallied to a $0.46 price level. The present rally has been made possible because of the breaching of the $0.26 overhead resistance and resistance at $0.305.Similarly, the XRP/BTC is in an upward move. The crypto has broken the resistance level to reach the high Ƀ0.000025660.
Resistance Levels: $0.24, $0.26, $0.28
Support Levels: $0.22, $0.20, $0.18
For the past week, the $0.26 overhead resistance was breached. The breakout enabled XRP to achieve price acceleration. XRP rallied to $0.30 high after a breakout at $0.26 overhead resistance. In the first uptrend, XRP was facing resistance at $0.305. After a pullback, XRP resumed a fresh uptrend. In the second uptrend, the bulls broke the resistance at $0.305 and the $0.32 overhead resistance.
Today, the Ripple price has risen to the $0.46 price level after breaching the next resistance. Nevertheless, from the 4 -hour chart, the price action surpassed the projected price level of the Fibonacci tool analysis. On November 17 uptrend, the coin was resisted. The last retraced candle body tested the 61.8% Fibonacci retracement level. This gives us the impression that XRP will rise to level 1.618 Fibonacci level or $0.3375 high. However, the market has risen above this level.
.Ripple (XRP) Indicator Analysis
XRP is at level 83 of the Relative Strength Index period 14. It indicates XRP is trading in the overbought region. Sellers are likely to emerge to push prices down. However, in a strong trending bullish market sellers will not be available to push prices down.
In the case of XRP/BTC, the crypto is an uptrend. The coin has risen to level Ƀ0.000026000 and it is currently retracing. The upward move will resume if the price finds support above level Ƀ0.00002360. The crypto is above the 750% range of the daily stochastic. The crypto is in bullish momentum.
Remember, all trading carries risk. Past performance is no guarantee of future results.