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XRP Price Analysis for November 13

Has XRP accumulated enough power for a continued rise?

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Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of CryptoComes. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The market has almost recovered its lost positions as almost all of the Top 10 coins are in the green zone. The only exception to the rule is Bitcoin Cash (BCH), whose rate has declined by 1.20% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The cryptocurrency market capitalization has also increased over the last 24 hours and now makes up $463 bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP today:

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  • Name: XRP

  • Ticker: XRP

  • Market Cap: $11,698,763,452

  • Price: $0.258180

  • Volume (24h): $2,688,430,060

  • Change (24h): 0.92%

The data is relevant at press time.

XRP/USD: Is the growth going to continue to $0.30 without a correction?

Yesterday's pressure from sellers pushed the XRP price away from the upper border of a wide sideways channel ($0.260). The pair sank below the trend line, but over the past night, buyers recovered the price above the trend line.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

If the recovery continues today, buyers will break through the $0.260 resistance and try to gain a foothold above the wide sideways channel.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP has accumulated enough position and is ready to grow. The altcoin is located in the ascending channel, and there are no correction signals so far.

👉 MUST READ BTC, ETH and XRP Price Analysis for November 10related article image

Thus, the trading volume is increasing, which means that there are high chances of testing the closest resistance at $0.2777 soon.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the bigger time frame, XRP is also rather more bullish than bearish. The trading volume is slowly going up, confirming buyers' potential. Thus, the lines of the MACD indicator are about to enter the green zone, which considers a long-term bull run. If that happens, the next target is $0.3265 and may be attained by the end of the year.

XRP is trading at $0.2595 at press time.

 

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Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@cryptocomes.com