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XRP Price Analysis for November 26

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Sun, 26/11/2023 - 17:55
XRP Price Analysis for November 26
Cover image via www.tradingview.com

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Bulls could not hold the initiative until the end of the week, according to CoinStats.

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XRP chart by CoinStats

XRP/USD

The rate of XRP has risen by 1.25% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of XRP has made a false breakout of the local resistance at $0.6362. If the decline continues, there is a high chance of a further drop to the support level.

Image by TradingView

On the bigger time frame, neither side has seized the initiative yet. Thus, the volume remains low, which means that ongoing sideways trading is the more likely scenario.

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All in all, traders may expect consolidation in the range of $0.60-$0.64 within the next days.

Image by TradingView

From the midterm point of view, the rate of XRP has made a false breakout of the previous bar low. If the candle closes far from that mark, the rise may continue to the $0.70 area by mid-December.

XRP is trading at $0.6271 at press time.

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