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XRP Price Prediction – November 29
The technical indicator is set to enter the bullish zone as the Ripple price trades around $0.229.
Resistance levels: $0.25, $0.27, $0.29
Support levels: $0.20, $0.18, $0.14
After the November 25 bullish reversal, the XRP/USD has continued to post substantial growth. Earlier today, the price has gone up from $0.222 to $0.239 before reversing back to where it is currently trading at the time of writing. More so, although the market remains bullish in the near term as the price changes have caused the XRP to fall back to $0.229. Looking at the current price gain of 2.64%, the third-largest cryptocurrency may continue its upward trend if the $0.220 could continue to provide support.
Moreover, XRP/USD has consistently maintained a high rise and a minimal decline in recent days, causing the market to touch $0.240 on November 27. Ripple (XRP) is now trading around $0.229 after a slight downturn in the market. Despite this decline, the XRP/USD market moves around 9-day MA but below 21-day MA as the stochastic RSI indicator moves above 40-level. The daily breakdown shows that the intraday support and resistance lie between $0.210 and $0.240 respectively.
Therefore, since the XRP/USD is moving bullishly on short-term outlook, traders can expect the trend to keep advancing higher if the price actions still remain inside the channel. A channel breakout could strengthen bulls and push the price to the resistance levels of $0.250, $0.270 and $0.290 or a channel breakdown might lead the market in a bearish scenario if the price begins to fade and the closest supports to keep an eye on are $0.200, $0.180, and potentially $0.160.
When compared with BTC, the pair is following a downtrend within the channel and moving below the 9-day and 21-day moving averages. Meanwhile, should in case the movement continues as shown on the daily chart, breaking down the lower boundary of the channel may take the market price to the support levels of 2850 SAT and 2750 SAT respectively.
Moreover, if the bulls can hold the price as it is now and push it towards the north, the Ripple (XRP) may likely rise above moving averages and the nearest resistance levels for the coin are 3100 SAT and 3200 SAT but the stochastic RSI moves into the oversold zone, which indicates the continuation of the bearish movement.
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