XRP/USD May Increase Further to Retest $0.79 Level

XRP/USD May Increase Further to Retest $0.79 Level

XRP Weekly Price Analysis – November 30

In case the bulls continue to dominate the XRP/USD market, the price may soar to the resistance at $0.73, $0.79, and $0.88 levels. On the downside, the price may find support levels at $0.61, $0.55, and $0.49.

XRP/USD Market
Key Levels:

Resistance levels: $0.73, $0.79, $0.88

Support levels: $0.61, $0.55, $0.49

XRP/USD Long-term Trend: Bullish

XRP/USD is under the bulls’ pressure as the coin rallies to the resistance level of $0.79. On November 24, it inclines to test the just mentioned level but the level holds the price and it pulled back to retest the $0.44 price level. Observation made on the daily chart; the XRP price is now trying to resume the bullish trend at the $0.61 level. The resistance level of $0.73 price level is likely to revisit in the next few positive moves in case the market continues the up-surge. 

XRPUSD daily chart, November 30

The technical indicator RSI (14) moves above the 60-level indicates that the market may continue to follow the upward trend. Taking a look at the daily chart, we can see the bulls’ momentum increasing. In case the bulls continue to dominate the XRP/USD market, the price may soar to the resistance at $0.73, $0.79, and $0.88 levels. On the downside, the price may find support levels at $0.61, $0.55, and $0.49.

XRP/USD Medium-term Trend: bullish

XRP is bullish on the medium-term outlook. The coin performance is becoming higher due to a recurring bullish sentiment which has caused the market to increase greatly. In other words, the price has been inclining for the last few days. The market is currently following the uptrend and the opportunity to place a buy trade setup may be available.

XRPUSD 4-hour chart, November 30

The price is above the dynamic resistance levels (9-periods EMA and 21-periods EMA) coupled with the relative strength index pointing up above 50 levels indicate a further increase in price.

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Author : Azeez Mustapha

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.