Ripple Price Prediction: Imminent XRP Advance?

XRP price is on its way to breaking through a symmetrical triangle pattern. A rise above $0.51 would confirm this breakout.

Ripple’s crypto price has been declining within a symmetrical triangle since September 23. The symmetrical triangle is considered to be a neutral pattern; thus, the course can as well exceed it as fall under this figure.

On November 2, after bouncing off the support line for the third time, XRP started a massive upside move. The rate of this rise has accelerated over the past 24 hours, leading to a high of $0.503. Knowing that there is currently no positive news regarding Ripple, it would seem that the price action is only due to a “pump”.

A rise above $0.51 (green line) would confirm the uptrend, while a drop below $0.42 (red line) would nullify it.

XRP/USDT – TradingView

XRP price prediction; can we expect $0.58?

In order to find the potential for a next upside, it is necessary to look at the weekly chart. This shows us that the price has broken through a long-term descending resistance line in place since the April 2021 high.

The RSI has also validated an upward move in price, which has crossed its bearish divergence trendline (green line). In addition, this indicator has exceeded the 50 mark.

The nearest resistance zone lies at $0.58. If the XRP price manages to break above it, the upward movement could accelerate considerably due to the lack of following resistance. The data from the technical analysis of the weekly and daily charts supports this hypothesis.

As stated above, a drop below $0.42 would negate the bullish prediction for XRP price.

XRP course
XRP/USDT – TradingView

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