Ripple Price Prediction – November 24
The Ripple price prediction reveals that XRP is currently facing selling pressure below the $1.00 resistance level.
Resistance levels: $1.20, $1.25, $1.30
Support levels: $0.90, $0.85, $0.80
XRP/USD is declining below the 9-day and 21-day moving averages after the opening of today’s trading. The Ripple price might cross below the $0.95 level before it could begin another increase. However, after struggling to cross above the 9-day moving average, Ripple begins a slow and steady decline as the coin prepares for the nearest support level of $0.93 which could move the coin into a short-term bearish zone.
Ripple Price Prediction: Ripple (XRP) May Go Down
The Ripple price is currently changing hands at $1.01 and any attempt to make it slide towards the lower boundary of the channel, it may open the doors for more downsides and the price could stay below the 9-day and 21-day moving averages. On the contrary, any bullish movement above the moving averages may locate the resistance levels of $1.20, $1.25, and $1.30.
Moreover, the market may experience a quick bullish movement if the trade reaches the support at $0.95 and should the price fails to rebound, then a bearish breakout is likely to trigger more selling opportunity for traders, which might cause the price to drop to $0.90, $0.85, and $0.80 support levels respectively. The technical indicator Relative Strength Index (14) is likely to cross below 40-level to increase the downtrends.
Against Bitcoin, the Ripple is currently trading at the 1795 SAT as it is trading below the 9-day and 21-day moving averages. If the above-mentioned level could serve as market support, XRP/BTC can be pushed back to the positive side and may move towards the resistance level of the 2000 SAT and above.
However, if the bulls fail to push the price to the nearest resistance, the market may continue the downtrend and it could probably record further declines at the 1700 SAT. Breaking this level could push the market to the nearest support level at 1600 SAT and below. Meanwhile, the Relative Strength Index (14) is likely to cross below 40-level to confirm the bearish signals.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Credit: Source link