XRP Price Analysis – November 19
The Ripple (XRP) slipped tremendously with the entire market crashing down as the price keeps the downtrend intact.
Resistance levels: $0.28, $0.30, $0.32
Support levels: $0.22, $0.20, $0.18
Ripple bears have remained active since the Asian session today. A flash drop that occurred yesterday smashed through the support at $0.25 and tested $0.24 but the recovery from the dip stalled at $0.251. Today, the continued selling activity has pushed Ripple under $0.26. Short-Term support is being established at $0.242 and is likely to stop the losses. Moreover, we expect XRP to start reversing the trend upwards anytime from now especially with the RSI (14) showing short-term oversold conditions.
As of now, the price is bearish but a bounce back to $0.28, $0.30 and $0.32 resistance levels may once again give strength to the $0.25 support. If this support gets weak, a price break-down may occur as the bears may continue to find a new monthly low at $0.22, $0.20 and $0.18 support levels. In the long run, Ripple’s XRP remains in a dominant downtrend.
Against Bitcoin, the Ripple (XRP) moves in sideways as the price trades around the 9-day and 21-day moving averages. Now, the bulls appear to be stepping back in the market, and we can expect the price-rise to 3200 SAT resistance and further resistance level lies at 3270 SAT and above. But as at the time of writing, XRP/BTC is changing hands at 3117 SAT.
Moreover, if the sellers reclaim back the control of the market and pull the price below to break the trend line of the channel, the next level of support is located at 2967 SAT and further support is found at 2850 SAT and 2750 SAT respectively. The RSI (14) moves above level 40 with the signal lines showing an upward direction.
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