XRP Price Prediction For November 21
The post XRP Price Prediction For November 21 appeared first on Coinpedia Fintech News
Ripple’s XRP is currently trading in green and is up by more than three percent in the last 24 hours. The altcoin is trading between the $1.06 and $1.15 range. XRP’s bullish momentum is partly supported by the speculations about SEC chair Gary Gensler’s resignation. According to reports, President-elect Donald Trump is considering a crypto-friendly chairman to replace Gensler. However, XRP’s ATH sits at $3.30 and it remains to be seen if the bulls will hit that mark before the end of this year. Here’s a price analysis by analyst Josh of Crypto World:
Current Price Action
XRP is currently trading between a golden pocket and the 78.6% Fibonacci level on the weekly chart. The 78.6% Fibonacci level, acting as strong resistance, is around $1.30. However, resistance starts at $1.26 and goes up to $1.30.
Support Zone
Support for XRP is located between $0.94 and $1.00, where a previous resistance level is now acting as support. If the price pulls back, expect support in this range.
Bullish Breakout Scenario
A confirmed breakout above $1.30 could drive XRP back towards previous highs around $1.70 to $2. This is a critical level to watch for a potential upward move.
Short-Term Price Pattern
XRP is forming a pattern similar to Cardano’s. If XRP breaks resistance at $1.14, it could see a bullish continuation, targeting $1.35. However, if support at $1.08 is broken, the price could fall to around $0.91 to $0.92, marking a potential 15% decline.
Bitcoin Comparison
Looking at XRP/BTC on the weekly chart, XRP might repeat the pattern seen in early 2021—a double bottom that led to a significant rise. If this pattern repeats, XRP could double in value against Bitcoin, potentially seeing gains of over 100%.
