Cryptocurrency

Bitcoin

Dogecoin

Read

<p>Cryptocurrency markets have seen some volatility lately, with Bitcoin enduring a disappointing week while some altcoins like XRP have shown impressive resilience. Cryptonary <a href="https://twitter.com/cryptonary/status/1720453615347810659?t=HKck5Y9xatcPpsKoskwI8Q&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">provided</a> an in-depth analysis on the near-term outlook for XRP, examining key technical factors to determine if the price is likely to push higher or see a potential shakeout.</p>
<h2 class="wp-block-heading" id="cryptonary-s-technical-analysis">Cryptonary’s Technical Analysis</h2>
<p>According to Cryptonary, XRP still looks positive from a technical perspective, having held up well around the $0.60 level despite Bitcoin’s struggles. However, <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> needs to break above horizontal resistance at $0.62 for more meaningful upside. Support appears strong around $0.54-$0.55, which would need to hold to avoid a breakdown.</p>
<p>Cryptonary notes XRP is forming a bullish pennant pattern that suggests upside bias, but this may depend on whether Bitcoin can stabilize. The RSI for XRP recently entered overbought territory for the first time in months, reaching 73, but Cryptonary believes this shouldn’t discourage further gains as long as divergences don’t form.</p>
<p>If Bitcoin holds up, Cryptonary thinks XRP could test the $0.62 resistance. A break above that could open the door for a move towards $0.69. However, the funding rate has come down from very positive levels and open interest is now at multi-month highs, so caution is warranted.</p>
<h2 class="wp-block-heading" id="cryptonary-s-takeaway">Cryptonary’s Takeaway</h2>
<p>While the short-term setup looks good for XRP, Cryptonary is cautious about chasing gains here given uncertainty around Bitcoin’s next move and impending resistance for XRP around $0.62. The overheated derivatives market is also a potential concern. As such, Cryptonary recommends stepping aside for now and reassessing after Bitcoin shows its hand.</p>
<h2 class="wp-block-heading" id="crypto-rover-s-breakout-call">Crypto Rover’s Breakout Call</h2>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="557" src="https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-1024x557.png" alt="" class="wp-image-369808" srcset="https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-1024x557.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-300x163.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-767x417.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-1536x835.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-2048x1113.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-276x150.png 276w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-100x54.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-644x350.png 644w, https://captainaltcoin.com/wp-content/uploads/2023/11/image-95-788x428.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p>Meanwhile, Crypto Rover <a href="https://twitter.com/rovercrc/status/1720393129914962055?t=ysrtDqwBnrXjqHVi5KveDQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">believes</a> the breakout for XRP is massive, having already broken out of a triangle pattern 16 weeks ago and retested support around $0.5 before pushing higher. Crypto Rover highlighted a potential target zone around $0.8 based on technical analysis, with XRP currently trading around $0.6. This implies considerable further upside if XRP can maintain its momentum.</p>
<p>Read also:</p>
<ul>
 <li><a href="https://captainaltcoin.com/crypto-lawyer-explains-why-ripple-is-not-going-to-abandon-xrp/" target="_blank" rel="noopener noreferrer nofollow">Crypto Lawyer Explains Why Ripple ‘Is Not Going to Abandon XRP’</a></li>
 <li><a href="https://captainaltcoin.com/get-rich-with-this-brand-new-meme-coin-thats-taking-the-market-by-storm/" target="_blank" rel="noopener noreferrer nofollow">Get Rich With This Brand-New Meme Coin That’s Taking the Market by Storm</a></li>
 <li><a href="https://captainaltcoin.com/a-weekly-close-above-this-channel-top-will-trigger-massive-buys-for-dogecoin-doge/" target="_blank" rel="noopener noreferrer nofollow">A Weekly Close Above This Channel Top Will Trigger Massive Buys for Dogecoin (DOGE)</a></li>
</ul>
<p>So while analysts have slightly different takes, the key $0.62 level appears crucial for XRP’s next move. A breakout could signal a new leg higher, but failure to push past resistance could result in a pullback. Traders may want to watch how Bitcoin acts in the short-term before making big bets on XRP at current levels.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/whats-next-for-ripples-xrp-is-price-headed-for-greater-heights-or-a-dip/" rel="noopener noreferrer nofollow">What’s Next for Ripple’s XRP? Is Price Headed for Greater Heights or a Dip?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

What’s Next for Ripple’s XRP? Is Price Headed for Greater Heights or a Dip?

Table of Contents

CaptainAltcoin

Other articles published on Nov 4, 2023

Can we expect ‘Santa rally’ for Bitcoin this Christmas?

Bitcoin May Be The Biggest Crypto, But Is This The Best?

How Is Web3 & Blockchain Transforming Business Solutions For Large Scale Enterprises

Why is the Crypto Market Up Today?

Elon Musk Clarifies: None of his Companies will Create Cryptocurrency Tokens

From English classrooms to Bitcoin mines, this Chinese man sets an example

Join our free newsletter for daily crypto updates!