Ripple Price Prediction – November 14
As the daily chart reveals, the Ripple price has not been able to develop the upside momentum above the moving averages.
XRP/USD Market
Key Levels:
Resistance levels: $1.40, $1.45, $1.50
Support levels: $1.00, $0.95, $0.90
At the opening of the trading today, XRP/USD is seen trading near the resistance level of $1.21. Unfortunately, the coin failed to hold the ground above this level as it begins to retreat within the 9-day and 21-day moving averages. Moreover, XRP/USD has been following a sideways movement for the past few weeks. Therefore, the coin may now remain at a tight range which could limit its bullish movement towards the upside.
Ripple Price Prediction: Ripple Price May Continue to Consolidate
The Ripple price is yet to make any recovery towards the resistance level of $1.25 as the initial break above the 9-day and 21-day moving averages may boost the price to the upside. However, the Ripple (XRP) hits a daily high of $1.21 before retreating back to where it is currently trading at $1.17. Meanwhile, from above, any bullish movement above the 9-day MA may hit the nearest resistance level at $1.30.
However, the short-term trend remains in the hands of the bears supported by the technical indicator where the Relative Strength Index (14) is facing the 50-level. Therefore, a break below the 21-day moving average may most likely bring the coin towards the critical support levels of $1.00, $0.95, and $0.90 while a break above the 9-day moving average may lead the crypto to the resistance levels of $1.40, $1.45, and $1.50 respectively.
By comparing with Bitcoin, XRP is consolidating within the 9-day and 21-day moving averages and the bulls have not been able to keep the price towards the upper boundary of the channel. Therefore, should in case the Ripple price cross above the 9-day moving average, the market price may likely hit the resistance level of 2000 SAT and above.
However, if the coin creates an additional downtrend, XRP/BTC may head to the critical support level of 1700 SAT and below. Meanwhile, the technical indicator Relative Strength Index (14) is likely to cross below the 45-level, indicating a bearish signal.
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