XRP Price "Preheating" on November 27: The suspense of rise and fall is about to be revealed!
Ripple's XRP token has seen quite a surge in the past few weeks, but it seems to be taking a breather now. As of today (November 27, 2024), XRP, like the global cryptocurrency market, is experiencing a slight pullback.
Some say this is a normal adjustment, while others believe it's due to the tense situation between Ukraine and Russia.
Although many cryptocurrencies are plummeting, XRP has remained relatively stable, holding the crucial position of $1.35. This stability is largely thanks to recent political changes, rumors about Gary Gensler (from the SEC), and news of an upcoming ETF.
Let's take a look at the technical analysis
Experts say XRP appears to be forming a descending triangle on the four-hour chart, supported around $1.30. However, if you look daily, this token is just oscillating within a small range. This pullback is reminiscent of the previous one, when altcoins also showed a triangular pattern and later surged by 50%.
If it breaks through this time, traders and investors are likely to be excited again, similar to the last surge.
What about the price?
Looking at the recent trend, if XRP breaks through the descending triangle line, it might rise by 42% in the coming days. If it can't hold above $1.30, it could drop by 25%.
On the bright side, XRP is still above the 200 Exponential Moving Average (EMA) on the daily chart, indicating an upward trend. Additionally, the Relative Strength Index (RSI) shows there is still room for growth, currently at 50.25, not yet reaching 70.
What’s the current price?
At the time of writing, XRP is approximately $1.34, having decreased by 4.5% in the past 24 hours. Trading volume has also dropped by 18%, suggesting that market sentiment has shifted, and enthusiasm for trading has waned a bit.
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