November 26, 2022

Ripple Price Analysis: XRP Fails at $1 however Is Another Attempt Incoming?

2 min read

Key Support levels: $0.89

Secret Resistance level: $1

Purchasers got excited to see the XRP rally, and there was a short-term effort to move the price above $1 last Thursday. However, a day later on, the cryptocurrency stopped by 10% and is now back simply above the support level at $0.89.

This first attempt to move higher failed however reveals that interest in XRP is returning, and another attempt may achieve success later on.

Chart by TradingView Technical Indicators Trading Volume: The volume was great during the rally recently. Since then, it has actually decreased substantially, positioning XRP into a combination with little volatility. RSI: The everyday RSI sits at 52 points at the time of this post. So long as the bulls can keep it above 50 points, the bias stays bullish for XRP and purchasers might try another break of the key resistance later.

MACD: The everyday MACD is bullish, but the pie chart is making lower highs after the rejection at $1. This is not worrying as long as the moving averages do not do a bearish crossover. This appears unlikely right now, and XRP can recover from this last drop in cost.

Chart by TradingView Bias

The existing XRP bias is bullish. As long as the cost sits above the support level at $0.89, XRP has a great chance to continue higher.

Short-Term Prediction for XRP Price

XRP is presently combining listed below the $1 resistance level. It was unlikely that a very first effort to break above would achieve success since this level represents a crucial psychological barrier too.