Ripple Price Prediction – November 8
The Ripple price prediction is slightly bullish as the market touches the daily high of $1.32 and could push the coin upward.
XRP/USD Market
Key Levels:
Resistance levels: $1.45, $1.50, $1.55
Support levels: $1.05, $1.00, $0.95
XRP/USD has been trading sideways since a couple of months ago, gaining around 3.53% during the negotiation today. As the daily chart reveals, the Ripple (XRP) rises after touching the daily low at $1.19. Looking at the daily chart presently, traders can see that the bulls are making an attempt to step back into the market with a cross above the 9-day and 21-day moving averages, which may head towards the resistance level of $1.35.
Ripple Price Prediction: Ripple Price May Skyrocket Above $1.40
The Ripple price remains the seventh-largest cryptocurrency with a market cap of $59.23 billion. The Ripple price begins to see a tremendous increase in the market and it is currently trading around $1.25. In the meantime, XRP/USD may continue to follow a bullish movement to confirm the current direction of the market.
Moreover, should in case the price breaks above the upper boundary of the channel, the resistance levels of $1.45, $1.50, and $1.55 could be visited. Meanwhile, for a break below the moving averages, the Ripple price may hit the supports at $1.05 and $1.00 and if the price falls below the previous levels, another support could be located at $0.95 while the Relative Strength Index (14) stays above 60-level.
When compares with Bitcoin, the Ripple price is currently changing hands at 1915 SAT and it’s hovering above the 9-day and 21-day moving averages. Therefore, if the 21-day MA serves as the market support, the Ripple price may likely face the key resistance at 2000 SAT. Meanwhile, reaching this level may aid the coin to hit the resistance level of 2200 SAT and above.
Similarly, should in case the bulls fail to keep the price above the moving averages, the Ripple price may continue its downtrend and it could probably record further declines towards the lower boundary of the channel. However, a further bearish move could bring the coin to the support level of 1700 SAT and below while the signal line of the Relative Strength Index (14) continue to move below 55-level.
Looking to buy or trade Ripple (XRP) now? Invest at eToro!
68% of retail investor accounts lose money when trading CFDs with this provider
Source: https://insidebitcoins.com/news/ripple-price-prediction-xrp-usd-touches-1-32-resistance
