Ripple Price Prediction – December 2
The Ripple price prediction shows that XRP could renew the bullish trend after testing the support level of $0.82 today.
XRP/USD Market
Key Levels:
Resistance levels: $1.00, $1.05, $1.10
Support levels: $0.70, $0.65, $0.60
XRPUSD – Daily Channel
XRP/USD regains ground after touching the daily low at $0.82 during the European session today. The Ripple price is currently changing hands at $0.85 with a slight gain of 0.88% since the start of the day. Despite the recovery, the coin is still hovering below the 9-day and 21-day moving averages. Ripple now takes eight place in the global cryptocurrency market rating, with the current market capitalization of $40.89 billion.
Ripple Price Prediction: Would Ripple Price Move to the Upside?
According to the daily chart, the Ripple price is moving towards the resistance level of $0.90 as the initial move above the 9-day and 21-day moving averages could boost the price further up. The Ripple (XRP) hits the daily high at $0.87 before retreating back to where it is currently trading. Looking at it from above, more bullish movements may come into play if the Ripple price crosses above the moving averages, and the nearest resistance level could be found at $0.90.
However, the traders can see that the daily movement still remains in the hands of the bulls as the technical indicator Relative Strength Index (14) is seen moving around 45-level, building on the consistent recovery from the downside. Meanwhile, a break above the $0.95 level may most likely push the coin towards the potential resistance levels of $1.00, $1.05, and $1.10 while a drop towards the lower boundary of the channel may lead to the supports of $0.70, $0.65, and $0.60 respectively.
When compares with Bitcoin, the Ripple is seen moving sideways around the 9-day and 21-day moving averages. After the coin touches the daily high at 1828 SAT today, the coin later retreated back to where it is currently trading. Meanwhile, the price keeps moving sideways as the buyers may put pressure on the market.
XRPBTC – Daily Chart
Moreover, should the sellers return back into the market, the Ripple price may drop to the support of 1650 SAT and below. At the moment, the technical indicator Relative Strength Index (14) moves above 50-level as the market could face the upward movement in the next positive direction while the resistance level could be located at $1950 and above.
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