CryptocurrencyPrice Analysis

XRP Price Forecast – Time for Long Positions?

XRP’s CTO and Ripple ledger co-creator David Schwartz commented on the company’s increased interest in non-fungible tokens (NFTs) in his latest interview. Ripple-supported XRPL Labs founder Wietse Wind in 2021 Feb introduced a proposal to support NFTs on Ripple’s Ledger, which doesn’t necessitate changing the XRPL code.

Wietse Wind presented distinct NFTs features, highlighting that they allow the creation of verifiable digital scarcity and ownership and are indivisible. The founder also confirmed that Ripple Ledges supports coin issuing.

Another impressive development for Ripple’s RXP was the XRPL Summit held from September 29 to September 30, when the crypto network launched a $250 million fund to monetize accessibility, support creators, and ensure innovative non-fungible token experience on the Ledger.

XRP/USD Weekly Price Chart – Price Prediction

Ripple (XRP) witnessed increasing demand after the bullish divergence on December 28, 2020, followed by a bearish candle pattern on March 8, 2021, translating to a 410% surge against Bitcoin. The recent concealed bullish divergence on October 18, 2021, adds to XRP/BTC bullish picture. For now, crypto enthusiasts expect XRP demand to increase if the alt sees a weekly close beyond the August 9 resistance.

XRP/USDT Weekly Chart – Price Forecast

XRP/USDT retains a bullish picture on the weekly price chart as the latest bullish pattern appeared to be a bear-trap candle formation on September 20, 2021. Higher Relative Strength Index past 25-mark show an increase in buy momentum by XRP/USDT.

XRP/USDT Daily Chart – Price Forecast

The daily price chart shows XRP/USDT trading inside opposing bullish and bearish divergence resistance ($1.3550) and support ($1.100) on November 10, 2021, and November 6, 2021. A 2nd bullish divergence shape shows additional support on November 12, 2021, making it challenging for XRP bears to drive the coin lower. If the altcoin closes under the $1.100 price support, investors can expect an oversold are under the 25-mark as the crypto’s next floor.

Market players can consider long positions and upsurge in dollar-cost if Relative Strength Index dips in the oversold territory.

XRP/USDT 4Hr Chart – Price Forecast

According to the four-hour chart, XRP/USDT secured support levels on October 30 at noon, November 6 at noon, and November 10 at 20:00. The 2nd bullish support ($1.1615) sits on November noon, putting the pair ready for price surges.

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