XRP Price Analysis – November 15
The Ripple price is currently facing selling pressure below the $0.270 resistance level.
Resistance levels: $0.285, $0.290, $0.295
Support levels: $0.250, $0.245, $0.240
XRP/USD is slowly declining below key the support of $0.270 after touching the daily high of $0.277 in the early trading session of today. The Ripple price might revisit the $0.260 support before it could start another increase. After struggling to stay above $0.270, Ripple started a slow and steady decline as the coin trades below the key $0.268 support level to move into a short term bearish zone.
Would Ripple (XRP) Go Up or Down?
XRP/USD is currently changing hands at $0.264 and any attempt to make it cross below the 9-day moving average may open the doors for more downsides and the price could spike below the $0.255 support level. However, any bullish movement may likely cross above the upper boundary of the channel at $0.260 before creating a new bullish trend at the resistance levels of $0.285, $0.290, and $0.295.
Moreover, the market may experience a quick buy once the trade reaches the support at $0.260. 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 $0.250, $0.245, and $0.240 support levels respectively. The RSI (14) is likely to cross below the 60-level. Should in case the price faces the downtrend, Ripple (XRP) may fall further.
Against Bitcoin, XRP is currently trading at the 1677 SAT and it is now trading above the 9-day moving average. If the above-mentioned level could serve as market support, the price can be pushed up above the channel and move towards the resistance levels of the 1900 SAT and above.
However, if the bulls fail to push the price to the nearest resistance, the market may begin another downtrend and the pair could probably record further declines at the 1600 SAT. Breaking this level could push the market to the nearest support levels, at 1400 SAT and below. Meanwhile, the RSI (14) is facing the north to give bullish signals.