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The price of XRP keeps rising steadily while remaining above the $1.48 level. When looking at the current trend, it appears that an increase above the $1.60 level can be expected soon.
XRP was relatively stable around the $1.40 region, accumulating enough strength to begin its ascent. Following the patterns of Bitcoin and Ethereum, it was able to breach the first resistance zones of the $1.42 and $1.435 levels.
Ripple was able to overcome a bearish trend line located at approximately $1.445 on the hourly time frame of the XRP/USD currency pair. This trend propelled it beyond the $1.50 dollar mark and the 61.8% Fib retracement level from a previous drop around $1.6339 and $1.2594 targets.
XRP Investor to Expect Another Pullback
Ripple is currently valued over $1.50 as well as the 100-hourly Simple Moving Average. Further to that, it has also broken past the 76.4% Fib retracement level of the last downward move.
For the medium-term view, the first level of resistance could be around $1.585 and then at $1.60. However, should the price break $1.635, it could seek $1.665 and even $1.68 and possibly further to $1.692. The next big challenge for bulls could be the $1.70 level.
On the other hand, if XRP fails to surpass the resistance level of $1.600, there might be a pullback. The first level of support is around $1.500, while the next significant level of support can be seen at around $1.480.
In the event of a drop below $1.480, it could take us down further towards the $1.4550 mark. In the case of further drops, the next important area of support would be around $1.400
Jim Crame Sends Critical XRP Sell Warning
Jim Cramer, host of *Mad Money*, has become an unexpected figure in crypto discussions—but not for reasons you might expect. Over time, his comments on Bitcoin and the wider crypto market have been seen by some as indicators of when to buy or sell. Interestingly, for many in the crypto space, his opinions often signal the opposite.
For those holding positions in XRP, one crypto analyst imagines Jim Cramer’s endorsement of the token as more of a red flag than a ‘green light.’ EGRAG Crypto on the other hand, believes that in practice, when Cramer voices support for XRP, that is a sign that the coin is no longer expected to increase in value.
The expectations of some of these individuals are that once their enthusiasm is expressed, it becomes the best time to sell instead of sitting on it.
Ripple Stays Solid as Price Consolidates Round $1
On the other hand, as Bitcoin managed to hold above the $100k mark, XRP’s price moving around the $0.54-$0.55 range did not appear impressive.
All of that, however, began to shift with the election. Within a few hours of the elections, XRP’s price climbed from $0.5031 to more than a dollar by mid-November. On November 23, the price reached $1.6335, a 220% increase over only three weeks, which was the highest in nine years.
But the rally didn’t last forever. XRP had perhaps its first losing streak in over six weeks on November 24, when the price of XRP pushed lower. Such prices, despite the slight dip, are still impressive during this market stage as XRP price is still above $1.
Currently, XRP shows active price movement attempting to test the $1.6 price range that could provide an upward fluctuation. There is room for further gains above this region, but if it fails to break, the token may drop to $1.48 or even lower.
Despite the potential for price corrections, XRP has remained and continues to provide a thumbs up on averaging upwards based on investor sentiments and a solid foundation. While the market keeps an eye on Bitcoin’s movements, XRP is forging its own path, presenting both opportunities and risks for traders navigating its unpredictable swings.
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