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Weekly support line probes XRP pullback from 2.5-year high.
Analyst Predict XRP Price might plunge to $0.45
Huge Whale Alert ! Millions worth of XRP transferred within the last 12 hours.
The last 24 hours seem to be very excruciating for the crypto market as crypto bears have taken a brief hold on the major cryptocurrencies. Most of the altcoins are bleeding red with the plunge ranging from 5% to 20%.
In the past few hours, many altcoins declined over 15%, including XVG, SUSHI, SNX, NANO, WAVES, RSR, LINK, XRP, ETH, LRC, DASH, and MIOTA. Among the top 10 cryptocurrencies, XRP Price and LINK Price are leading in terms of loss.
Will XRP Price Plunge to $0.45?
Well known Crypto trader and Analyst Solldy shared his XRP analysis on trading view.
The analyst expects XRP price might make a descending move from its current standing. The Altcoin predicted to move into a short-position and fall towards the support zone between the $0.41 and $0.47 levels.
He states that, the XRP price observed consolidation in this zone between the 21st and the 23rd of November, just before it broke towards the upside to test the $0.75 mark.
On the other hand , another Crypto Analyst believes that, if the coin tires out and cannot break above the $0.75 resistance, the cryptocurrency will fall bearish and see a move towards the $0.41 to $0.47 range. The target price for this short trade will be near the $0.45 mark, while the stop-loss lies above $0.75.
Also Read : Top 5 Reasons XRP Could Hit $1 This Year
According to the analyst, the XRP’s trade volume has decreased, but it continues to trend with minor sideways movements. The price is expected to rise towards the $0.7842 level before falling to bearish momentum.
XRP Price Analysis
Ripple’s XRP tumbled by 9.08% on Wednesday. Reversing most of a 12.39% rally from Tuesday, Ripple’s XRP ended the day at $0.63053. However, it was also a mixed start to the day. Ripple’s XRP rose to an early morning high of $0.70972 before hitting reverse.
Falling short of the major resistance levels, Ripple’s XRP fell to an early morning low of $0.61570. XRP price declined heavily after it failed to stay above the USD 0.600 support level.
The price even traded below the USD 0.585 and USD 0.555 support levels. The next major buy zone for the bulls could be USD 0.520, below which they might put a strong fight near the USD 0.500 level.
XRP/USD battles short-term rising trend line while trying not to refresh the intraday low of 0.5803, currently down over 12% near 0.6050, during the early Thursday.
The Relative Strength Index (RSI) was marked at 55.75, which is the neutral zone for this cryptocurrency. The Moving Average Convergence Divergence (MACD) line has moved below the signal line, while the histogram size increases in the negative region. This means that the cryptocurrency may see a bearish move ahead.
Active Crypto Trader, shared his analysis on Trading view. According to him :
- XRPUSD expected to see a sideways movement as the price has observed resistance after riding the upper band with Bollinger band expansion and weak selling pressure
- Oscillator indicators are mostly neutral. RSI at 70 in the neutral region.
- Moving average indicators are indicating an uptrend. Ichimoku Cloud is neutral and Hull MA indicates selling opportunities
- Volume indicators observed an increase in value as the price increase followed by a decrease in volume with a decline in price
Price expected to see a sideways movement as the price has observed resistance after riding the upper band with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line approaching the signal line from above, histogram size decreasing in the positive region suggesting a bullish bias.
XRP Whale Alert
Large investors have increased the pace at which such huge transfers are made, as seen via Whale Alert, with millions worth of XRP transferred within the last 12 hours — hinting that there might be more than meets the eyes.
The two most recent transactions include,
- 20,000,000 XRP (12,591,740 USD) transferred from Unknown wallet to Bitstamp
- 10,000,000 XRP (6,814,748 USD) transferred from Uphold to an unknown wallet.
- 12,500,000 XRP (8,082,858 USD) transferred from Ripple OTC Distribution wallet to unknown wallet.
- 10,000,000 XRP (6,210,567 USD) transferred from Bybit to an unknown wallet.
- 9,999,980 XRP (6,235,354 USD) transferred from an unknown wallet to Coinbase.
- 9,824,791 XRP (6,126,117 USD) transferred from an unknown wallet to Coinbase.