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RIPPLE PRICE ANALYSIS CMP-$0.4000: Bulls have loaded the weapon and are willing to shoot

On a 24-hour and 4-hour chart, ripple price analysis shows that the market is now in a bullish trend.


25 Nov 2022 By : COIN GABBAR
RIPPLE PRICE ANALYSI

Despite market volatility, XRP bulls appear to have regained momentum, with Ripple's native coin reaching fresh highs.

Ripple is still trading well above the $0.35 support level against the US dollar. The XRP price appears to be aiming for a new rise towards the $0.45 level. Following a sharp drop, Ripple's XRP made a base above the $0.320 level versus the US dollar. The price began to rise steadily over the $0.335 and $0.340 barrier levels.

Price was pushed above the 23.6% Fib retracement line of the bearish move from the $0.5100 swing high to the $0.3160 swing low by the bulls. Furthermore, the XRP/USD pair broke above a major bearish trend line with resistance above $0.374 on the 4-hours chart.

On the 4-hours chart of the XRP/USD pair, XRP is about to break through the ascending triangle pattern. If the price successfully breaks over the barrier, it may easily rise towards the $0.430-$0.450 levels.

XRP is slowly going above the 100 SMA (4-hours) and outperforming both bitcoin and ethereum. The price is currently facing resistance at $0.400.

The first significant barrier is located at the $0.415 level. The 50% Fib retracement level of the decline from the $0.5100 swing high to the $0.3160 swing low is very close to the $0.415 level. If the price successfully breaks over the $0.415 barrier, it may move towards the $0.450 resistance. The next significant barrier is located at the $0.465 level. Any further rises might push the price towards $0.50 in the coming days.

If ripple fails to break over the $0.415 resistance level, it may begin to fall. The 100 simple moving average and the $0.380 level offer initial support on the downside (4-hours). The next significant support level is at $0.350. If the xrp price breaks down and closes below $0.350, it may prolong losses. In the aforementioned scenario, the price might possibly go below the $0.320 support.

According to Price Analysis, The market capitalization of this XRP is estimated to be $20,115,480,119. The 24-hour trading volume for the coin is around $1,326,048,798. XRP market capitalization has risen by 4.94%. However, trade volume increased by 25.76% during intraday trading.

KEY LEVELS :

RESISTANCE LEVEL : $0.4100-$0.4300

SUPPORT LEVEL : $0.3880-$0.3750

RIPPLE is preparing to break through the ascending triangle pattern on the daily chart. Will XRP be able to break through the long consolidation and reach $0.5? Have you bought XRP since the breakout?

WHAT'S YOUR OPINION?