XRP/USD - Pump and dump. XRP failed to rally higher for now 🙄

12 nov 2021

XRP had an exciting week with high volatility but failed to maintain its price above $1.2 which is currently acting as resistance. In the last seven days, the price decreased by only 2%, despite reaching almost $1.34 for a brief moment. Nevertheless, the bias on XRP remains somewhat bullish so long it holds above the $1 support level, the expectation is to see XRP attempt again to break above the $1.4 resistance.

The bears were quite fast to reject XRP’s attempt at a rally, but they failed to push the price under $1.2 which currently acts as the baseline for next week’s price action. The daily timeframe indicators remain positive, but the bulls need to step up in the coming week as well, otherwise, XRP will hover around $1.2 as before.

Looking ahead, XRP needs to pass beyond the $1.4 resistance if there is hope to see higher prices in the longer term. As such, a break above that level would be a strong indicator that XRP is ready to move higher.

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