XRP Price Prediction For November 28
Ripple’s XRP has gained more than 6% in the past 24 hours and is currently trading just below $1.50. The altcoin has gained over 36% in the past seven days and is currently targeting the $2 level. Here is price analysis from Crypto World analyst Josh:
On XRP’s weekly time frame, analysts said The market is clearly in a bullish trend. The cryptocurrency recently broke above a key resistance level, hinting at a shift in upward momentum. A key support level has been established following the recent retest of the previous Fibonacci resistance level, which now serves as the new support level. This level is around $1.30, with support typically found between $1.25 and $1.30.
If XRP encounters rejection around $1.50, short-term support is around $1.42 to $1.43. Further support lies between $1.36 and $1.37, with the main support area between $1.28 and $1.30, marked by the gold pocket area.
Monitor resistance levels
As for resistance on the larger time frame, XRP faces strong resistance between $1.60 and $1.70 based on previous highs. An immediate resistance lies at the Fibonacci level between $1.50 and $1.51. If XRP manages to break above this level, the next resistance zone is expected to be between $1.60 and $1.70. A successful breakout of this area could push XRP towards the next major price target, which is around $2.
Analysts warn:
However, analysts say it’s important to understand that such a breakout comes with a slight increase in risk. The reason is that the support line formed below the breakout only has two points of contact, which is not enough to make it a highly reliable support level. This creates more uncertainty for traders. However, with the breakout confirmed, the technical price target for this move is around $1.77, with potential upside of 20% from current price levels.
