XRP Price Prediction for November 21: Analysis and Key Levels
Ripple's XRP has shown a 3% increase in the past 24 hours, trading in the $1.06–$1.15 range, driven by speculations of a leadership change at the SEC, with rumors suggesting a crypto-friendly chairman could replace Gary Gensler. Despite this bullish sentiment, XRP’s all-time high (ATH) of $3.30 remains a distant target. Here’s a detailed analysis based on current market trends:
Current Price Action
XRP is positioned between a golden pocket and the 78.6% Fibonacci level on the weekly chart.
Resistance Zone: Begins at $1.26, extending to $1.30, with $1.30 being a critical level for the next upward push.
Support Zone: Between $0.94–$1.00, where a former resistance now acts as support.
Key Scenarios
1. Bullish Breakout
A confirmed move above $1.30 could pave the way for XRP to target $1.70–$2, aligning with previous highs.
Breaking $1.14 resistance could initiate a short-term rally toward $1.35, adding to bullish momentum.
2. Bearish Pullback
A drop below $1.08 could lead to a pullback, testing support in the $0.91–$0.92 range, representing a potential 15% decline.
Comparison with Bitcoin (XRP/BTC Pair)
On the weekly chart, XRP shows signs of potentially repeating its early 2021 double-bottom pattern, which previously led to a significant rally.
If history repeats, XRP could experience a 100% increase against Bitcoin, bolstering its overall market value.
Conclusion
XRP's price action remains influenced by macroeconomic events and market speculation. A breakout above $1.30 could signal a bullish continuation, while failure to hold key support at $1.08 may lead to short-term losses. Traders should watch these levels closely, as XRP's trajectory could align with broader market trends and BTC performance.
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