XRP Price Analysis – November 12

Azeez Mustapha
  • The XRP price has been fluctuating above the $0.50 price level.         
  • The crypto’s price is likely to encounter another price breakout.

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View

XRPUSD Medium-term Trend: Bullish

Resistance Levels: $0.56, $0.58, $ 0.60

Support Levels: $0.50, $0.48, $0.46 

Last week the XRPUSD pair was in a bullish trend. The crypto reached the high of $0.55 but faced resistance at the $60 price level. It was suggested in the previous week that if the price broke the $0.50 price level; the crypto would be unable to resume its uptrend. On November 8, the cryptocurrency has been fluctuating above the 0.50 price level.

Meanwhile, the crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that the price is in the bullish trend zone. As the price was resisted at upper price level, the digital currency found support at the $0.50 price level. In the same vein, the Relative Strength Index period 14 is level 56 which indicates that the price is nearing the bullish trend zone.                                                          

XRPUSD Short-term Trend: Ranging     

Ripple, XRPUSD, CryptoCompare chartXRP Chart by Trading View                            

On the short term trend, the XRP price is in a sideways trend. The crypto's price and the exponential moving averages (EMAs) are horizontally flat at the $0.50 price level.  The XRP price is neither above nor below the 12-day EMA and the 26-day EMA indicating a sideways trend. The crypto’s price is likely to encounter another price breakout.

 

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