XRP Price Analysis for November 19

Price Predictions
Thu, 11/19/2020 - 14:19
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Denys Serhiichuk
How long will the rise of XRP last?
XRP Price Analysis for November 19

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Cover image via www.tradingview.com

The market remains under a bullish influence, however, this does not apply to all of the Top 10 coins. Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH) are in the red zone.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

However, the total market capitalization index has declined by about $5 bln and is now at $500 bln.

Cryptocurrency market capitalization
Cryptocurrency market capitalization

The relevant data of XRP for today:

  • Name: XRP

  • Ticker: XRP

  • Market Cap: $13,554,448,771

  • Price: $0.299029

  • Volume (24h): $5,078,186,766

  • Change (24h): 1.49%

The data is relevant at press time.

XRP/USD: Can bulls fix above $0.30 by the end of the month?

Yesterday morning, the bulls were unable to overcome the resistance of $0.31, and large sells pushed the price of XRP from the point of the monthly high to the support of $0.28.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

In the afternoon, XRP price volatility eased and the price consolidated in a sideways range, taking advantage of the weak support at $0.290.

Related BTC, ETH, XRP, TRX, EOS, ADA and LINK Price Analysis for November 18
Related
BTC, ETH, XRP, TRX, EOS, ADA and LINK Price Analysis for November 18

If the market remains bullish, the price of the altcoin will continue to rise and try to overcome the resistance of $0.310. Otherwise, bears may press the price down to the support of $0.280.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the daily chart, XRP has the power to break the vital resistance at $0.30 as the altcoin has accumulated enough power for a breakout. In addition, the trading volume remains high. If buyers break the aforementioned level, they can get to the next target at $0.32 by December.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

On the weekly chart, XRP has started its bull run after a consolidation phase. The ongoing buyer pressure is also supported by the lines of the MACD indicator that has entered the green zone. If bulls keep pushing the rate of the altcoin higher, traders may expect XRP trading at $0.36 by the end of the year.

XRP is trading at $0.2983 at press time.

 
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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.