XRP Price Prediction – Indicators Suggest Fresh Bull Run If XRP Clears $0.642
November 22 2023 - 11:08PM
NEWSBTC
XRP price started a downside correction and tested $0.572. The
price is now rising and might gain bullish momentum if it clears
$0.642. XRP started a downside correction below $0.650 and $0.620.
The price is now trading below $0.640 and the 100 simple moving
average (4 hours). There was a break above a major bearish trend
line with resistance near $0.608 on the 4-hour chart of the XRP/USD
pair (data source from Kraken). The pair start a fresh rally if it
clears the $0.642 resistance zone. XRP Price Holds Key Support
After facing rejection near the $0.740 zone, XRP started a fresh
decline. There was a move below the $0.70 and $0.650 support
levels. The price even dived below the $0.60 support,
underperforming Bitcoin and Ethereum. Finally, the bulls took a
stand near $0.572. A low was formed near $0.572 and the price is
now attempting a fresh increase. There was a move above the $0.600
resistance. There was a break above a major bearish trend line with
resistance near $0.608 on the 4-hour chart of the XRP/USD pair. The
price is now testing the 23.6% Fib retracement level of the
downward move from the $0.7499 swing high to the $0.5723 low. On
the upside, immediate resistance is near the $0.615 level. The
first major resistance is near the $0.642 zone or the 100 simple
moving average (4 hours). It is close to the 50% Fib retracement
level of the downward move from the $0.7499 swing high to the
$0.5723 low. A close above the $0.642 resistance zone could spark a
steady increase. Source: XRPUSD on TradingView.com The next key
resistance is near $0.682. If the bulls remain in action above the
$0.682 resistance level, there could be a rally toward the $0.720
resistance. Any more gains might send XRP toward the $0.750
resistance. Another Decline? If XRP fails to clear the $0.642
resistance zone, it could start a fresh decline. Initial support on
the downside is near the $0.588 zone. The next major support is at
$0.572. If there is a downside break and a close below the $0.572
level, XRP price might accelerate lower. In the stated case, the
price could retest the $0.540 support zone. Technical Indicators
4-Hours MACD – The MACD for XRP/USD is now gaining pace in the
bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for
XRP/USD is now just above the 50 level. Major Support Levels –
$0.588, $0.572, and $0.540. Major Resistance Levels – $0.615,
$0.642, and $0.682.
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