XRP Price Prediction as Ripple Sees Potential in Carbon Credit and Gaming NFTs – XRP to the Moon?
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After experiencing a dramatic 27.63% loss in the opening week of November, XRP was able to recuperate 16%, bouncing off its $0.32 support level during the second and third weeks of the month. Currently trading at $0.38, XRP is testing the area of support between $0.3736-$0.3820 in an attempt to break out and move higher. With the SEC v. Ripple court decision imminent and multiple new use cases being explored for the project, will Ripple continue to buck the market’s bear trend, or sink back to recent lows?
Ripple Price Prediction and Technical Analysis
Exponential Moving Averages (EMA)
At this moment, the price is trading beneath EMA 20, EMA 50, and EMA 100 levels, which suggests that in both the short- and long-term XRP may be bearish.
Relative Strength Index (RSI)
The Relative Strength Index has been moving within a range between RSI 44.49 and RSI 51.90 for the past several weeks and is currently sitting at RSI 46.08. To indicate a possible move into the upside, XRP must break out from this range and trade decisively above RSI 50.
Moving Average Convergence Divergence (MACD)
Though in a bullish crossover position currently, the separation between the moving average has been slowly diminishing for the past couple of weeks as observed from the declining histogram. The moving average has also begun to move sideways, which indicates a neutral position. If it starts pointing down, a bearish crossover may be in the cards.
Ripple (XRP) Fundamental Analysis
Will Ripple Win Against the SEC?
Crypto analyst and influencer Miles Deutscher stated to his over 250,000 followers on Twitter this past Friday that even though he isn’t a fan of XRP, he is still hoping they win their case against the SEC for the benefit of the entire industry.
“If they don’t, there will likely be massive ramifications,” he noted. “Anyone hoping they lose is against crypto.”