Ripple Price Prediction: XRP/USD Seeks Fresh Rally Towards $1.05

Ripple Price Prediction – December 1

The daily chart reveals that the Ripple price is consolidating around the moving averages with 0.55% as the value touches $0.97 support.

XRP/USD Market

Key Levels:

Resistance levels: $1.20, $1.25, $1.30

Support levels: $0.80, $0.75 $0.70

XRPUSD – Daily Chart

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XRP/USD is slowly rising above the 9-day moving average as the coin might cross above the 21-day moving average. After struggling to stay above $1.00, the Ripple price begins to move towards the upper boundary of the channel to probably move into a short-term bullish zone.

Ripple Price Prediction: Ripple (XRP) May Rally to the Upside

At the time of writing, the Ripple price is currently exchanging hands at $1.01 and any attempt to make it cross above the 21-day moving average may bring more upsides as the price could stay above the crucial $1.00 resistance level.  However, traders may need to wait for a bullish cross above the moving averages before creating a new bullish trend towards the resistance levels of $1.20, $1.25, and $1.30.

However, the market may experience a quick buy once the trade reaches the resistance at $1.10. But if the bulls failed to push the price to the upside, a bearish breakdown is likely to trigger another selling opportunities for traders, which could cause the coin to touch the support level of $0.90 and could further drop to $0.80, $0.75, and $0.70 support levels. Meanwhile, the technical indicator Relative Strength Index (14) is crossing above 50-level, suggesting more bullish signals for the market.

When compares with BTC, the Ripple price is still down as the coin nosedives below the 9-day and 21-day moving averages. If the selling pressure continues, the Ripple (XRP) may create a new low as the technical indicator Relative Strength Index (14) is likely to cross below 40-level. Therefore, traders may expect close support at 1600 SAT and below if the coin faces the lower boundary of the channel.

XRPBTC – Daily Chart

However, if a bullish movement triggers above the upper boundary of the channel; traders can confirm a bullish movement for the market and it could locate the resistance level at 1900 SAT and above.

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Read more:

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