XRP Price Prediction For November 18

XRP has seen a powerful value enhance over the previous 1 to 2 weeks. One of many principal drivers of this rally is the information surrounding Gary Gensler’s doable departure from the SEC, particularly as some imagine his departure may positively influence XRP’s ongoing authorized battle. The change in SEC management may present extra favorable situations for XRP’s development.

Based on analyst Josh from Crypto World, the cryptocurrency is at present testing two main resistance ranges. The primary is round $1.11, based mostly on earlier candle highs, whereas the second is at $1.26, derived from the earlier candle closes. Lately, XRP was rejected on the USD 1.26 degree, which now acts as a powerful resistance.

If XRP can break above $1.26, the following potential goal is round $1.59 based mostly on earlier candle closes. The upper wick resistance is at round $1.95, which could possibly be an important degree to observe if the value continues to rise.

XRP’s Technique to $2

By way of resistance ranges on the weekly chart, the 78.6% Fibonacci retracement degree, which is round $1.29-$1.30, is intently aligned with the $1.26 degree. This area is prone to provide robust resistance, and XRP could wrestle to interrupt by way of within the close to time period.

If XRP manages to interrupt above $1.30, the following goal could possibly be the earlier highs of $1.73, and even as excessive as $1.95. Nevertheless, the weekly chart’s RSI is coming into overbought territory for the primary time since July 2023, which has traditionally led to a pullback. Whereas a serious crash is unlikely attributable to general bullish market situations, a light correction earlier than one other breakout is feasible.

Conclusion

XRP is thought for making sharp strikes throughout bull markets, typically in near-vertical value motion. Subsequently, any pullbacks needs to be considered with warning as they’ll typically be short-lived, particularly if there may be robust upward momentum in play.