{"id":32410,"date":"2023-11-13T15:52:39","date_gmt":"2023-11-13T19:52:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32410"},"modified":"2023-11-13T15:52:39","modified_gmt":"2023-11-13T19:52:39","slug":"xrp-price-path-to-1-exploring-two-potential-outcomes-from-the-0-66-resistance-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/13\/xrp-price-path-to-1-exploring-two-potential-outcomes-from-the-0-66-resistance-level\/","title":{"rendered":"XRP Price Path To $1: Exploring Two Potential Outcomes From The $0.66 Resistance Level"},"content":{"rendered":"

Following a sideways weekend, the XRP price stumbled on a critical resistance level, forcing the token to revisit support. The crypto market is following a similar trajectory on short timeframes, but an analyst believes the current price action could set the stage for a bigger rally. <\/strong><\/p>\n

As of this writing, the XRP price trades at $0.64 with a 3% loss during today\u2019s trading session. In the previous week, the token recorded a 7% loss, operating as the work performer in the top 10 by market cap, followed by Cardano (ADA), which recorded a 4% profit over the same period.<\/p>\n

XRP Meets Resistance But Prepares For Bigger Run To The Upside?<\/h2>\n

According to a pseudonym analyst, the XRP price met resistance at $0.664, which could trigger potential scenarios. On the positive side, the cryptocurrency is targeting a key level at $1, the analyst believes.<\/p>\n

As seen in the chart below, XRP needs to clear the high of its current range at $0.73 before making a run to the upside. At around $1, the cryptocurrency would climb above the 0.8 Fibonacci Extension, a series of levels used to measure resistance and support.<\/p>\n

In that sense, $0.9 is the most significant resistance for XRP and its potential bullish run. The trader believes the bullish momentum dissipated after a close below the 0.66 Fibonacci extension, which could push the token back to $0.61 or $0.58 if bulls failed to push back.<\/p>\n

On the upcoming price trend for XRP, the analyst stated<\/a> the following, favoring a sideways price action scenario:<\/p>\n

The side move is continuing between $0.6649 & $0.6131, and the latter becomes important. We can touch here because we stayed below the target level. The target is still to hit $0.87 and $1.05 in the very short term, but the prerequisite is to stay above $0.6649.<\/p>\n

When Will The XRP Price Hit $1?<\/h2>\n

Previously, the same analyst claimed that the resistance at $0.66 opens the door for a run at the $0.7 level, as mentioned. The analyst believes the token could break above these levels in the coming month.<\/p>\n

XRP could hit $0.87 on November 19th if the bulls successfully attempted to breach this resistance. Corresponding with the Elliot Wave Theory, the analyst concluded<\/a>:<\/p>\n

XRP broke the 4-hour support of $0.6649 but is still strolling around it. The daily still has not broken yet. We call this C Wave Expanded C, and it\u2019s completely technical. We wicked to $0.6287 yesterday & Fibonacci Support there is $0.6131. This correction is completely technical and routine. I trust $XRP to consolidate between $0.66 & $0.61 and continue to finalise the 5th Wave at $0.8737 very soon.<\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Following a sideways weekend, the XRP price stumbled on a critical resistance level, forcing the token to revisit support. The crypto market is following a similar trajectory on short timeframes, but an analyst believes the current price action could set the stage for a bigger rally. <\/strong><\/p>\n

As of this writing, the XRP price trades at $0.64 with a 3% loss during today\u2019s trading session. In the previous week, the token recorded a 7% loss, operating as the work performer in the top 10 by market cap, followed by Cardano (ADA), which recorded a 4% profit over the same period.<\/p>\n

XRP Meets Resistance But Prepares For Bigger Run To The Upside?<\/h2>\n

According to a pseudonym analyst, the XRP price met resistance at $0.664, which could trigger potential scenarios. On the positive side, the cryptocurrency is targeting a key level at $1, the analyst believes.<\/p>\n

As seen in the chart below, XRP needs to clear the high of its current range at $0.73 before making a run to the upside. At around $1, the cryptocurrency would climb above the 0.8 Fibonacci Extension, a series of levels used to measure resistance and support.<\/p>\n

In that sense, $0.9 is the most significant resistance for XRP and its potential bullish run. The trader believes the bullish momentum dissipated after a close below the 0.66 Fibonacci extension, which could push the token back to $0.61 or $0.58 if bulls failed to push back.<\/p>\n

On the upcoming price trend for XRP, the analyst stated<\/a> the following, favoring a sideways price action scenario:<\/p>\n

The side move is continuing between $0.6649 & $0.6131, and the latter becomes important. We can touch here because we stayed below the target level. The target is still to hit $0.87 and $1.05 in the very short term, but the prerequisite is to stay above $0.6649.<\/p>\n

When Will The XRP Price Hit $1?<\/h2>\n

Previously, the same analyst claimed that the resistance at $0.66 opens the door for a run at the $0.7 level, as mentioned. The analyst believes the token could break above these levels in the coming month.<\/p>\n

XRP could hit $0.87 on November 19th if the bulls successfully attempted to breach this resistance. Corresponding with the Elliot Wave Theory, the analyst concluded<\/a>:<\/p>\n

XRP broke the 4-hour support of $0.6649 but is still strolling around it. The daily still has not broken yet. We call this C Wave Expanded C, and it\u2019s completely technical. We wicked to $0.6287 yesterday & Fibonacci Support there is $0.6131. This correction is completely technical and routine. I trust $XRP to consolidate between $0.66 & $0.61 and continue to finalise the 5th Wave at $0.8737 very soon.<\/p>\n

Cover image from Unsplash, chart from Tradingview<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-32410","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=32410"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32410\/revisions"}],"predecessor-version":[{"id":32424,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32410\/revisions\/32424"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32410"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}