bullish

Resistance

Daily

<p>Ripple has recently experienced a resurgence of buying pressure around the crucial $0.5 support region, resulting in a strong price spike and reclaiming significant resistance levels.</p> 
<p>This renewed buying activity suggests an uptrend in the mid-term, with a potential target of the $0.66 resistance.</p> 
<h2 id="xrp-analysis">XRP Analysis</h2> 
<p>By <a href="https://www.linkedin.com/in/shayan-navabi-522107248/" data-wpel-link="external" target="_blank">Shayan</a></p> 
<h3 id="the-daily-chart">The Daily Chart</h3> 
<p>On the daily chart, the $0.5 zone has been a critical support for XRP over the past months. The recent influx of buying momentum pushed the asset above the 100-day moving average ($0.55) and 200-day moving average ($0.53). Breaking above these moving averages indicates a shift in sentiment, as buyers now hold a stronger position in the market.</p> 
<p>However, RP is currently trading within an expanding wedge pattern and is bounded by the $0.55 and $0.66 thresholds. A short-term consolidation within this range is expected for the mid-term, with a likely continuation of the uptrend aiming toward the $0.66 resistance level.<a href="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-D-2-scaled.jpg" data-wpel-link="internal"></a></p> 
<h3 id="the-4-hour-chart">The 4-Hour Chart</h3> 
<p>Zooming into the 4-hour chart, Ripple experienced significant demand around the $0.5 support range, which aligns with the 0.5 and 0.618 Fibonacci retracement levels.</p> 
<p>The bullish divergence seen between the price and the Relative Strength Index (RSI) confirmed the accumulation phase, resulting in a decisive breakout above both the descending wedge’s upper boundary and the $0.55 threshold. This breakout and the wedge’s pattern signal a bullish reversal in the mid-term.</p> 
<p>Ripple is now trading within a $0.55-$0.66 range, and a period of consolidation within this range is likely before a continued bullish move. As long as buying momentum persists and consolidation remains healthy, XRP’s price could approach and potentially test the $0.66 resistance in the mid-term.<a href="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-scaled.jpg" data-wpel-link="internal"><img class="aligncenter size-full wp-image-370062" src="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-scaled.jpg" alt="" width="2560" height="1372" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-scaled.jpg 2560w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-300x161.jpg 300w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-1024x549.jpg 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-768x411.jpg 768w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-1536x823.jpg 1536w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-2048x1097.jpg 2048w, https://cryptopotato.com/wp-content/uploads/2024/11/XRP-4H-2-50x27.jpg 50w" sizes="(max-width: 2560px) 100vw, 2560px"></a></p> 
<p>The post <a href="https://cryptopotato.com/ripple-price-analysis-this-is-xrps-next-resistance-target-after-gaining-15-weekly/" rel="nofollow">Ripple Price Analysis: This Is XRP’s Next Resistance Target After Gaining 15% Weekly</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.</p>

Ripple Price Analysis: This Is XRP’s Next Resistance Target After Gaining 15% Weekly

Table of Contents

CryptoPotato_News

Other articles published on Nov 11, 2024

Crypto Casino Metawin Hacked for $4M+ Due to Withdrawal System Exploit

Bitcoin Approaching $85,000 Risks Major Short Trader Liquidation

Market Sentiment of Insane Labz®️ Token and Potential for an Upcoming Bull Run

COTIUSDT Shows Bullish Momentum Following Descending Resistance Break

CNG: Bolt is considering a feature that tells riders if a car is CNG-powered

DWF Labs Partners with UCLA Blockchain Faculty on Educational Initiative in Tokenized Securities ...

Join our free newsletter for daily crypto updates!