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<img width="1200" height="681" src="https://coingape.com/wp-content/uploads/2023/11/pxXt43Oj-e1699369560781.png" class="attachment-full size-full wp-post-image" alt="XRP price" decoding="async" style="float:right; margin:0 0 10px 10px;">
XRP price shows the formation of a <a href="https://coingape.com/glossary/rounding-bottom-pattern/">rounding bottom pattern</a> on the daily charts. This pattern is often spotted at a market bottom and projects a clear transition from a downtrend passing through an accumulation phase before initiating a new recovery. In the current context, the XRP price witnessed a correction trend from mid-July to August, which after two months of accumulation in September- October has now started with a fresh recovery. Should you ride this rally? 
Also Read: <a href="https://coingape.com/ripple-moves-60-mln-xrp-bolstering-market-interest-price-to-hit-0-7/">Ripple Moves 60 Mln XRP Bolstering Market Interest, Price To Hit $0.7?</a> 
<h2 id="b-xrp-price-aims-for-higher-recovery-as-bullish-pattern-b">XRP Price Aims for Higher Recovery As Bullish Pattern</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">A recent breakout from $0.66 resistance set the XRP price at 38%</li> 
 <li style="font-weight: 400;" aria-level="1">A rounding bottom pattern leads to the current recovery trend.</li> 
 <li style="font-weight: 400;" aria-level="1">The intraday trading volume in the XRP is $459.6 Million, indicating a 38% gain</li> 
</ul> 
<img decoding="async" src="https://s3.tradingview.com/snapshots/p/pxXt43Oj.png" alt="TradingView Chart">Source- Tradingview 
On October 24th, the <a href="https://coingape.com/price/xrp/">XRP price</a> breached the $0.55 resistance, marking a decisive end to the two-month accumulation phase. This breakout, buoyed by a broader market recovery, propelled the coin’s value by 35%, culminating in a high of $0.75.&nbsp; 
<blockquote>
 Amid this rally, the XRP price <a href="https://coingape.com/markets/xrp-price-explodes-hitting-3-month-high-as-whales-scoop-the-token-heres-what-next/">surpassed a crucial hurdle</a> created by the $0.66 price level and the 50% Fibonacci retracement level of its prior downtrend. This development suggests a diminishing influence of sellers and a lower likelihood of a downtrend resumption.&nbsp;
</blockquote> 
Earlier today, although the sellers momentarily forced a 9% dip, the price swiftly rebounded above $0.66, leaving behind a prominent long-wicked rejection candle. Should the altcoin maintain its foothold above this newfound support, the price is poised to escalate towards the $0.939 level, propelled by the rounding bottom pattern, and see a 38% potential gain.&nbsp; 
Throughout this surge, the XRP price might encounter intermediate resistances at the $0.74 and $0.83 levels, corresponding with the 61.8% and 78.6% Fibonacci retracement levels, respectively. 
<h2 id="b-xrp-vs-btc-performance-b">XRP vs BTC Performance</h2> 
<img decoding="async" class="aligncenter size-full wp-image-163651" src="https://coingape.com/wp-content/uploads/2023/11/image_2023-11-07_20-29-54-e1699369469400.png" alt="XRP vs BTC" width="1200" height="675">Source: Coingape| XRP Vs Bitcoin Price 
Over the past 30 days, both the XRP and <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> have reaped significant rewards from the prevailing recovery. However, as the BTC price momentum begins to fade at the $36,000 resistance, the XRP price continues to chart new highs, potentially positioning it as the more advantageous asset in the current market revival. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Bollinger band: The sharp upswing in the upper boundary of the <a href="https://coingape.com/education/bollinger-band/">Bollinger band</a> reflects the moment when the bullish momentum is active.</li> 
 <li style="font-weight: 400;" aria-level="1">Average Directional Index: The ADX slope rising above the 55% level warns of potential buyer exhaustion, which could lead to periodic pullbacks necessary to maintain a sustainable bullish trend.</li> 
</ul> 
The post <a rel="nofollow" href="https://coingape.com/markets/xrp-price-prediction-as-buyers-restore-50-of-last-correction/">XRP Price Analysis As Bullish Pattern Signals $1 Next</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.

XRP Price Analysis As Bullish Pattern Signals $1 Next

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