Ripple price prediction: XRP to hit $0.67 next, analyst
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TL:DR Breakdown
- Ripple price prediction expects the altcoin to hit the $0.67 mark.
- Ripple is going to through a turmoil.
- XRP finds strong support at the $0.59 mark.
The Ripple price prediction by Kyer shows that the price will ascend to the $0.67 mark next. The price has seen an abrupt move towards the $0.64 mark on the evening of the 28th of November. Ripple is moving in a possible reverse head and shoulder that can cause the rise, while Bitcoin is also enjoying some stability.
1-Day Ripple price analysis
The XRP price observed an abrupt increase towards the $0.64 mark on the 28th of November after the price had been holding between the $0.54 and $0.56 levels for over a day. The cryptocurrency had seen a bearish momentum for almost two days after observing a continuous uptrend.
The price was expected to resume its ascension, and it recovered above the $0.649 level on the 28th of November. At the time of writing, XRP was priced at $0.59801. The price approached a day’s high of $0.649, while the day’s lowest was at $0.516.
Ripple price prediction: Move to $0.67 ahead?
The price was observed inside an ascending triangle and it is expected to move towards the ascending trend line before rising to the top. Per the analyst, the cryptocurrency got rejected off the $0.8 resistance level and the price has been falling to catch support near $0.47.
The price observed a reversal near $0.47 before closing at the monthly support and it reentered the ascending triangle pattern. Currently, it has reversed above the $0.62 mark, and it will long towards the $0.67 level per the analyst’s opinion.
The swing high for 2018 was achieved by the cryptocurrency at $0.89, while the daily resistance is marked at $0.8. Both of these levels lie above the ascending channel, and the price is expected to break towards the upside from this triangle pattern soon. The breakout will allow the cryptocurrency to reach the target prices at $0.67, $0.80, and $0.89.
What to expect from Ripple?
Trading Guru’s chart also shows an ascension for the XRPUSD pair. The price is rising the $0.60 to $0.65 zone for now, and the bulls are expected to take over the market soon. Once the price closes above this range, the cryptocurrency will move towards the horizontal resistance at the top, that originated in April 2018.
The cryptocurrency’s price moved up as a part of a major uptrend over the past week. The price is now trading in the regions that it did not see much price action in. The analyst believes that the cryptocurrency will enter a long trade setup and move towards the $0.90 mark from here.
What’s next for XRP?
The Moving Average Convergence Divergence (MACD) line is moving under the signal line and the histogram size is decreasing in the negative region. This means that the cryptocurrency is under a bullish bias. The price has escaped a triangle pattern, and the analyst believes that the price is currently in a buy zone.
Per the analyst, the cryptocurrency will rise towards the $0.786 mark next. The stop-loss is marked near $0.60, and the Relative Strength Index (RSI) closed above the midline in the 60 range. The technical indicator returned from the overbought region very recently. This is an opportunity for the buyers and a long-term trade.
