This website uses cookies to ensure you get the best experience on our website

Blog

Technical Analysis for XRPUSD for 10th November 2021

Ripple in a Bullish Breakout above Pennant with Eyes on $1.40

Ripple, the company, is launching a new product dubbed the Ripple Liquidity Hub, which uses smart order routing. Through this portal, customers will access several coins, including XRP, BTC, LTC, and ETH, from a range of cryptocurrency exchanges, market makers, and over-the-counter desks.

Past Performance of XRP

The XRP/USDT price is trading in a bullish breakout pattern above a bull flag, evident in the daily chart.

Overall, XRP bulls have been resilient, soaking in selling pressure, defying the odds to print higher this week in spite of headwinds.

What to Expect of XRP

Analysts expect a re-price to pump the coin higher, considering XRP/USDT's bullish candlestick arrangement and the state of the ongoing court case.

Presently, buyers are in the driving seat, trading above October 2021 highs at around $1.20.

Given the XRP/USDT candlestick arrangement, there might be cause for prices to lift higher towards $1.40—Q3 2021 highs—or better in the weeks ahead.

Ripple Technical Analysis

Traders are confident of Ripple and XRP medium-term prospects.

XRP/USDT prices are within a bullish breakout pattern above the wedge as bulls sustain the coin above October 2021 highs.

Reading from the daily chart, there might be entries for buyers to double down, targeting Q3 2021 highs of $1.40 on every retracement. This condition is, however, valid only if prices are above $1.20—the immediate support.

Conversely, losses below $1.20 unwinding recent gains may see XRP drop back to $1 in a retest.

Resistance level to watch: $1.40

Support level to watch: $1.20

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions?

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18.