XRP Technical Analysis Report | 09th-November-2023


XRP rose by 0.25% yesterday after its decrease of 4.1% on Tuesday. Judge Analisa Torres mandated on October 24th that a briefing schedule be submitted by November 9th by the SEC and Ripple. A contentious briefing schedule is indicated by the lack of advancement in the SEC v. Ripple case on remedies for the unresolved charges. The asset is still trading in overbought territory, according to the 14-day RSI reading of 75.05. If the SEC v. Ripple case doesn’t provide positive updates, selling pressure can increase.

At the time of writing, XRP was trading at $0.6948.

Ripple Daily Chart_09th_Nov_2023
Ripple (XRP) Chart

XRP was trading in a range from $0.475 to $0.55. The asset finally gave a breakout above the range rallied 24% and surged to $0.7324. XRP has a strong resistance at $0.745 ( Horizontal Trendline & 61.8% Fibonacci Retracement Level). Once it breaks, closes and sustains above the resistance level it may further rally up to $0.85 levels whereas $0.63 will act as a strong support for the asset.

  Support 2Support 1AssetResistance 1Resistance 2

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Each investor must do his/her own research or seek independent advice if necessary before initiating any transactions in crypto products and NFTs. The views, thoughts, and opinions expressed in the article belong solely to the author, and not to ZebPay or the author’s employer or other groups or individuals. ZebPay shall not be held liable for any acts or omissions, or losses incurred by the investors. ZebPay has not received any compensation in cash or kind for the above article and the article is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information.

Start Trading Now