XRP Price Analysis – November 26
Ripple continues to chop off gains within a descending channel as recovery becomes untenable. The RSI signal line point towards the bearish dominance in the coming sessions.
XRP/USD Market
Key Levels:
Resistance levels: $0.25, $0.27, $0.29
Support levels: $0.18, $0.16, $0.14
XRP/USD may be falling back to the red zone after touching the $0.22 during the early Asian hours. The coin fizzled out of $0.22 and was unable to move above the 9-day moving average. The crypto’s value has been gravitating within a descending channel while the channel has been tested severally on both sides. A break above the channel resistance could boost XRP in its mission to correct the damage caused in the last few weeks.
For now, XRP/USD is teetering at $0.217 and it may soon be grinding towards the immediate support of $0.210 as the price is below the moving averages of 9 and 21 days. In other words, the RSI (14) is diving deeper within the oversold levels. Although, the price is still bearish but a bounce may push it above the upper boundary of the channel and the resistance levels of $0.25, $0.27 and $0.29 may be visited. Otherwise, the bears may continue to find a new monthly low at $0.18, $0.16 and $0.14 support levels.
XRP/BTC Market
Against Bitcoin, the Ripple (XRP) moves in sideways as the price trades below the 9-day and 21-day moving averages. Now, the bears are gaining control of the market, any attempt to break below the channel, we can expect the price-fall to 3000 SAT and further support level lies at 2900 SAT and below. But at the moment, XRP/BTC hovers around 3054 SAT.
However, if the buyers could push the price above the moving averages and break the upper boundary of the channel, the next level of resistance is located at 3250 SAT and further support is found at 3300 SAT and 3400 SAT respectively. The RSI (14) is above level 40 with the signal line moving in the same direction.
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