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 2	Support 1	Asset	Resistance 1	Resistance 2
$17.5	$20.5	XRP	$25	$30

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