XRP price prediction for November 29
Ripple's XRP has crossed the $1.50 barrier and is trading towards the $1.60 level at the time of writing. The price recently broke above key resistance levels and continues its upward movement. The altcoin has gained more than seven percent in the past 24 hours and is now eyeing $2. Looking at XRP on the weekly chart, the overall trend remains very bullish.
Over the past few days, XRP managed to break the crucial 78.6% Fibonacci level at approximately $1.30, and has since retested this level and turned it into support. As long as the price does not break above this support, there is potential for further bullish momentum, according to CryptoWorld analyst Josh. The next higher resistance zone is around $1.60 to $1.70, which is based on the previous highs. If XRP can break above this resistance, we could see the price move towards $2.
Short term price action
XRP has recently broken out of a balanced triangle pattern, suggesting a major bullish move. However, after the breakout, the price bounced back to retrace the previous resistance, now acting as a new support. Immediate resistance to watch is around $1.50 to $1.51. If XRP manages to break above this level with confirmed price action, it could move back to its previous high of $1.59 to $1.63. On the other hand, if XRP fails to hold the current support from $1.42 to $1.43, the next support level to watch is $1.36 to $1.37.
Support and resistance levels:
The best scenario would be a strong price move towards the $1.77 target, but the market has shown a lack of tracking on recent price action. Immediate support is at $1.42 to $1.43, where the previous resistance has now turned into support.
A break from $1.50 to $1.51 would push the price to the $1.59 to $1.63 range, with the next target around $1.70. However, if XRP breaks below $1.36, the bullish pattern will be rejected, and the next support can be found at $1.28 to $1.30.
