XRP Price Prediction For November 18
XRP has seen an impressive price surge over the past 1-2 weeks. One of the key drivers of this rally has been news about Gary Gensler’s potential departure from the SEC, particularly as some believe his exit could have a positive impact on XRP’s ongoing legal battle. A change in SEC leadership could bring more favorable conditions for XRP’s development.
Crypto World analyst Josh said that the cryptocurrency is currently testing two important resistance levels. The first price is around $1.11, based on the previous candle’s wick high, while the second price is $1.26, based on the previous candle’s close. Recently, XRP was rejected at $1.26 levels, which is now a strong resistance level.
If XRP can break above $1.26, then based on past candle closes, the next potential target is around $1.59. Higher wick resistance is around $1.95, which could be a key level to watch if prices continue to rise.
XRP on the road to $2
In terms of resistance on the weekly chart, the 78.6% Fibonacci retracement level is located near $1.29 to $1.30, closely correlated with the $1.26 level. There is likely to be significant resistance in this area, which XRP may struggle to break above in the short term.
If XRP manages to break above $1.30, the next target could be the previous high of $1.73 or even as high as $1.95. However, it is worth noting that the RSI on the weekly chart has entered overbought territory for the first time since July 2023, which has historically resulted in pullbacks. While a major breakdown is unlikely due to overall bullish market conditions, a minor correction is possible before another breakout occurs.
in conclusion
XRP is known for swinging wildly during bull markets, often moving in near-vertical price action. Therefore, any pullbacks should be viewed with caution, as these can sometimes be short-lived, especially when strong upward momentum is at play.
