Ripple (XRP) Price Analysis – XRP Bounces Off Six-Month Low, Slowly Gaining Momentum


Ripple (XRP) is slowly recovering from a six-month low of $0.20 over the last three days of trading. Currently, the market is correcting gain of about +2.63. Though the long-term bearish bias remains dominant as there’s hope for reversal if the bulls can reclaim the $0.30 resistance. Nonetheless, the weak buying pressure is still keeping the bullish momentum slow.

Ripple (XRP) Price Analysis: Daily Chart – Bearish

Key resistance levels: $0.25, $0.30
Key support levels: $0.20, $0.18

In late October, we saw how Ripple (XRP) bounced off the channel’s lower boundary all the way to the channel’s upper boundary this month. As we can see now, the same scenario is currently playing out in the market following the November 25 recovery at $0.20 support. XRP is now bouncing back towards $0.25 resistance. The bulls may reclaim $0.30 resistance if the primary resistance breaks.

XRPUSD, Daily Chart – November 28

Looking at the market, we can see that XRP is climbing back on the RSI indicator but the bullish formation is still unclear. There’s a need for a significant rise above the RSI oversold level. Conversely, the MACD shows that the bearish action is still dominant. In case of a bearish regroup, the market is likely to roll back to the base of the channel at $0.2. A slight break could send XRP price to $0.18.

Ripple (XRP) Price Analysis: Hourly Chart – Bullish

The hourly chart for Ripple’s XRP suggests an upward movement which is currently shaping inside a rising wedge pattern. Early today, XRP touched the upper boundary of the wedge but it now appeared that a price drops could be underway. There’s near support at $0.22 on the wedge’s lower boundary before resuming bullish. Below the wedge, support is located at $0.207.

XRPUSD, Hourly Chart – November 28

On the upside, XRP is currently holding resistance $0.231, where the channel’s resistance lies. A further price gain could bring the XRP market out of the wedge to $0.24 and $0.25resistance. At the moment, RSI is currently sitting on the 50 levels. An intense buying pressure would occur if the RSI level can bolster as support. As suggested on the hourly MACD, the XRP bulls are gaining control of the market we can expect a more positive climb in future trading.


Buy Entry: $0.22
TP: $0.24
SL: $0.21

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$10 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
Share with other traders!