Cardano

Resistance

Following a sideways weekend, the XRP price stumbled on a critical resistance level, forcing the token to revisit support. The crypto market is following a similar trajectory on short timeframes, but an analyst believes the current price action could set the stage for a bigger rally. 
As of this writing, the XRP price trades at $0.64 with a 3% loss during today’s trading session. In the previous week, the token recorded a 7% loss, operating as the work performer in the top 10 by market cap, followed by Cardano (ADA), which recorded a 4% profit over the same period. 
<img loading="lazy" decoding="async" class="wp-image-560419 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=860&amp;resize=860%2C410" alt="XRP Price XRP XRPUSDT Ripple" width="860" height="410" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=1759 1759w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=860&amp;resize=860%2C410 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRP-XRPUSDT-Ripple.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="xrp-meets-resistance-but-prepares-for-bigger-run-to-the-upside">XRP Meets Resistance But Prepares For Bigger Run To The Upside?</h2> 
According to a pseudonym analyst, the XRP price met resistance at $0.664, which could trigger potential scenarios. On the positive side, the cryptocurrency is targeting a key level at $1, the analyst believes. 
As seen in the chart below, XRP needs to clear the high of its current range at $0.73 before making a run to the upside. At around $1, the cryptocurrency would climb above the 0.8 Fibonacci Extension, a series of levels used to measure resistance and support. 
<img loading="lazy" decoding="async" class="wp-image-560418 size-large" src="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=860&amp;resize=860%2C484" alt="XRP Price XRPUSDT XRP price analysis XRP Chart" width="860" height="484" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=1366 1366w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=860&amp;resize=860%2C484 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/XRP-Price-XRPUSDT-XRP-price-analysis-XRP-Chart.jpeg?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
In that sense, $0.9 is the most significant resistance for XRP and its potential bullish run. The trader believes the bullish momentum dissipated after a close below the 0.66 Fibonacci extension, which could push the token back to $0.61 or $0.58 if bulls failed to push back. 
On the upcoming price trend for XRP, the analyst <a href="https://twitter.com/DefendDark/status/1724012624394760534" target="_blank" rel="noopener nofollow">stated</a> the following, favoring a sideways price action scenario: 
<blockquote>
 The side move is continuing between $0.6649 &amp; $0.6131, and the latter becomes important. We can touch here because we stayed below the target level. The target is still to hit $0.87 and $1.05 in the very short term, but the prerequisite is to stay above $0.6649.
</blockquote> 
<h2 id="when-will-the-xrp-price-hit-1">When Will The XRP Price Hit $1?</h2> 
Previously, the same analyst claimed that the resistance at $0.66 opens the door for a run at the $0.7 level, as mentioned. The analyst believes the token could break above these levels in the coming month. 
XRP could hit $0.87 on November 19th if the bulls successfully attempted to breach this resistance. Corresponding with the Elliot Wave Theory, the analyst <a href="https://twitter.com/DefendDark/status/1722907917500739642" target="_blank" rel="noopener nofollow">concluded</a>: 
<blockquote>
 XRP broke the 4-hour support of $0.6649 but is still strolling around it. The daily still has not broken yet. We call this C Wave Expanded C, and it’s completely technical. We wicked to $0.6287 yesterday &amp; Fibonacci Support there is $0.6131. This correction is completely technical and routine. I trust $XRP to consolidate between $0.66 &amp; $0.61 and continue to finalise the 5th Wave at $0.8737 very soon.
</blockquote> 
Cover image from Unsplash, chart from Tradingview

XRP Price Path To $1: Exploring Two Potential Outcomes From The $0.66 Resistance Level

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