Ripple XRP/USD Price Prediction, Technical Analysis – November 22nd
At the time of writing this article, Ripple XRP is trading at $0.4425, a major retracement from previous days highs of $0.5000 levels. XRP price had a significant sell-off and retraced towards the critical support zone $0.42 to $0.45 where it found some buyers. Until XRP holds $0.42 support level it will be trading in a wide range $0.4350-$0.4750 area due to high volume. In case of a major breakout above $0.4750 with big volumes, we can see $0.4950-$0.50 price levels easily.
Ripple XRP News
Craig Wright is not a well-respected figure in the crypto and blockchain circle. Furthermore, he also doesn’t seem much interested in making friends and remains controversial at large. In a controversial statement, he tweeted that XRP is just “another illegal unregistered security platform”. Furthermore, he also tweeted about how the renowned cryptocurrency, Ethereum [ETH] has lost its use-cases. He urged that Securities and Exchange Commission (SEC) should take down the cryptocurrencies.
Ripple XRP/USD Price Analysis
Based on the XRP/USD daily chart, the price is just below the important level of 55Day EMA and below 200DMA. After a significant drop from the higher levels, MACD is just on the Signal Line and RSI is now at 41.
This indicates neutral to slightly positive bias, Daily volumes are above $1.1b which is slightly encouraging.
Prediction (Short to Medium term):-
As long as the Ripple Price holds $0.4350 and breaks above $0.4650, we can expect a quick rally towards $0.49 Area….on the contrary, we can see the price drop towards critical support area of $0.42
Credits:- Srinivas Podila
This article should not be considered as an investment advice. Please conduct your own research before investing in any cryptocurrency.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.