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

Technical Analysis for XRPUSD for 28th November 2022

Ripple Up 28% from November Lows, XRP Support at $0.30

Past Performance of XRP

Ripple is up 25 percent from November lows, looking at the performance in the daily chart. Even though the coin is relatively steady at spot rates, the path of least resistance remains southwards as long as prices are below $0.55—or October highs. Another worthwhile observation is that the coin recoiled to wipe out gains from September to October 2022, swinging back price action in favor of sellers. Presently, sellers are in charge. However, bulls will find relief if prices are above $0.30.

Ripple Technical Analysis

XRP prices are within a $0.25 range, with resistance at $0.55 on the upper end and $0.30 on the lower end. Even though buyers have the upper end at spot rates, printing higher from November lows, trading volumes are low, and prices are within the November 8 and 9 bear candlesticks. Therefore, while there are indicators of further gains, until XRP bulls pierce $0.43 and November 9, pushing higher is when the coin could soar to $0.55 in a refreshing recovery. If not, every high below $0.43 is favorable for aggressive sellers targeting $0.30 from an effort versus results perspective.

What to Expect from XRP

XRP is printing higher highs from the lower BB, pointing to increasing bullish momentum. However, resistance is at $0.43, and the general trend is bearish. Unless there are high volume gains above last week's highs, sellers are in control, and prices may drop to November lows.

Resistance level to watch: $0.43

Support level to watch: $0.30

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. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020