Back

XRP Price Analysis for November 28

Are bulls out of strength to keep the ongoing rise of XRP?

article image
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 correction might have finished on the cryptocurrency market as all coins from the Top 10 list are again in the green zone. Mainly, Cardano (ADA) is the top gainer from the list, rising by almost 15 percent since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

Even though the market has recovered, its capitalization index has declined by $13 bln and is now at $513 bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data for XRP today:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $25,574,608,905

  • Price: $0.564969

  • Volume (24h): $14,722,797,495

  • Change (24h): 4.85%

The data is relevant at press time.

XRP/USD: How soon may the retest of $0.60 occur?

XRP has shown an enormous price rise in recent days. The third most popular crypto has rocketed by 53% since the beginning of the previous week.

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

On the 4H time frame, XRP is slowly approaching the resistance of $0.5925. It has high chances of breaking it as bulls are ready to continue the bull run after the false breakout of the zone.

👉 MUST READ ETH, XRP and XLM Price Analysis for November 24related article image

However, traders may expect a consolidation period after that, as the trading volume and the liquidity are not enough to keep the rise going.

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

On the bigger time frame, XRP is about to trade in the range of $0.56-$0.60 to gain more power to conquer new peaks. Thus, the value of the RSI indicator is already located on the verge of the oversold area, which means that a bull run is unlikely to happen from the current levels.

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

From the long-term perspective, XRP has not yet reached its peak to switch to the bearish trend. On the weekly chart, the MACD indicator has recently entered the bullish zone, which means that buyers are not going to give up so easily. In this case, the closest resistance at which a deep correction is possible is the $1.09 mark.

XRP is trading at $0.5615 at press time.

 

Subscribe to CryptoComes.com on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

article writer image
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